Is “supply-side Economics” Enough?

My answer to the question—Is “supply-side economics” enough?— is simply that it is both too much and too little. This paper will elaborate the sense in which “supply-side economics” is an exaggerated answerto current economic problems, and the sense in which it falls short of providing an adequate solution to our economic ills. I shall contend that “supply-side economics,” as defined by the media and a small group of propagandists, lacks the consistent analytical framework necessary to provide effective solutions for our socioeconomic problems. On the contrary, “supply-side economics” has contributed to the tactical difficulties encountered by the Reagan administration in executing its economic program. My assessment of “supply-side economics” is based on an examination ofthe problems we have inherited from past economic policies, and on the answers to these problems suggested by sound economic analysis.