Thursday, September 01, 2005

Father of Supply Side Economics, Dead at 69

After coining the phrase "supply-side economics" in 1976 as an editor of The Wall Street Journal editorial pages, Wanniski wrote his seminal book The Way The World Works. Named one of the 100 most influential books of the 20th century by the editors of the National Review, the book revealed Wanniski's discovery of the cause of the Crash of 1929. His lucid reporting that the U.S. Senate's floor votes on the Smoot-Hawley tariff legislation coincided day-to-day with the October 1929 financial market collapse was the first persuasive explanation of that pivotal event, and began the rehabilitation of classical economics that Wanniski dubbed "supply-side" to distinguish from the "demand-side" Keynesian and monetarist theories.

I'm not endorsing him, but he did have a strong effect on the economic policy of the country.

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