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Wealth and Poverty, by George Gilder.    Richard Nixon reportedly observed, "We are all Keynesians now."  As economics students of my generation know, prior to the early 1980s Keynesian economists focused primarily on studying the effects of various governmental policies on aggregate economic demand.  These economists were half right, because it is the interaction between demand and supply that determines prices and production in a market economy.  Prodded in part by this influential 1981 book, economists, legislators and the public gradually became more aware of the important supply-side effects of economic policy initiatives such as tax, spending and regulatory proposals.  Indeed, Gilder, known more as a social philosopher than an economist, helped lay an important part of the intellectual foundation for a renaissance in "supply-side" economic thinking.  In turn, this renewed focus on supply-side effects led to what most economists now accept as part of the most appropriate economic analysis of governmental policies, but which represented rather dramatic--even controversial--changes back in 1980.

ISBN: 1558152407
Format: Paperback, 327pp
Pub. Date: May 1993
Publisher: ICS Press

 

 

 

 

"The first book in years that compellingly makes the case for the moral as well as practical merits of capitalism."

Jack F. Kemp

 

 

 

"A remarkable analysis of American social and economic policy that demolishes a host of pieties as to the causes of poverty and the conditions that overcome it."

Nathan Glazer