Two supply-side economists of the Reagan transition team weigh in on Timothy Muris’s “Ronald Reagan and the Rise of Large Deficits” (Winter 2000). Reynolds notes that Reagan’s economic advisors were divided over inflation, not real-growth forecasts, while Roberts emphasizes the Federal Reserve’s unwillingness to break with conventional economic wisdom.

Paul Craig Roberts is the John M. Olin fellow at the Institute for Political Economy and former Assistant Secretary of the Treasury for Economic Policy.
Economic PolicyEconomyFiscal Policy/DebtGovernment and PoliticsTaxes
Other Independent Review articles by Paul Craig Roberts
Winter 2020/21 What Is Supply-Side Economics? Four Decades Later Wikipedia and Academic Economists Still Don’t Know
Fall 2009 Letter to the Editor
Spring 2004 My Time with Karl Marx
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