Jim Devine writes: The supply-siders -- like most politicians and economists -- are like Moliere's bourgeois gentilhomme who don't know that they've been speaking prose all their lives. They may consciously and even honestly believe that a cut in the allegedly high marginal tax rate will have all sorts of wonderful effects, but they don't see that in reality the only way that their policies have an effect is through Keynesian (demand-promoting) mechanisms. The supply-siders don't know that their whole theory _only makes sense_ in terms of Keynesian logic (demand promotion).
This is called "begging the question." If you assume Keynesian theory is correct, then of course the consequences of tax cuts will necessarily be explained by Keynesian theory. As I have to constantly remind you and others on this list, assuming your intellectual adversaries do not understand something, as opposed to understanding but not agreeing, is not a very fruitful way to engage in debate. David Shemano _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
