Schumpeterian Analysis, Supply-Side Economics and Macroeconomic Policy in the 1920s

Robert B. Ekelund () and Mark Thornton ()

Review of Social Economy, 1986, vol. 44, issue 3, pages 221-37

Abstract: Supply-side policies , and specifically tax cuts, were a major causalfactor in the prosperity of the 1920s. Simple empirical tests are used to support this position. An opposing vi ew-that prosperity and tax cuts resulted from general Schumpeterian expansion-is refuted with Schumpeter's own view that tax policy is a major determinant of ec onomic activity and growth in economic aggregates. Further, the authors analyze the contemporary interest in supply-side economics and discuss the important ins ights that supply-side concepts have for economic stability and growth. Copyright 1986 by Taylor and Francis Group

Date: 1986

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Persistent link: http://EconPapers.repec.org/RePEc:taf:rsocec:v:44:y:1986:i:3:p:221-37

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Review of Social Economy is edited by Wilfred Dolfsma, Deborah Figart, Robert McMaster and Martha Starr

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