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Supply-Side Follies is a progressive political and economic challenge to the current George W. Bush policies. It debunks commonly held assumptions of conservative economic policies centered on the obsession that tax cuts led to greater productivity and prosperity. These fundamentally flawed policies are setting the United States up for a major economic downturn in the near future. The 21st century knowledge economy requires a fundamentally different approach to boosting growth than simply cutting taxes on the richest investors. The alternative is not, however, to resurrect old Keynesian, populist economics as too many Democrats hope to do. Rather, as Rob Atkinson makes clear, our long-term national welfare and prosperity depends on new economic strategy that fits the realities of the 21st century global, knowledge-based economy: innovation-based growth economics.
- Sales Rank: #1162911 in eBooks
- Published on: 2006-10-24
- Released on: 2013-03-19
- Format: Kindle eBook
Review
In this important book, Rob Atkinson leaves behind the stale economic debates in Washington, D.C. and presents a compelling case that both conservative and liberal economic doctrines are out of step with today's global, knowledge-based economy and that we need a new 'innovation economics.' This book is a must-read for anyone―liberal, centrist, or conservative―interested in ensuring a prosperous future for all Americans. (Senator Evan Bayh)
Dr. Atkinson's Supply-Side Follies is a primer on Bush/Reagan's supply-side economics doctrine, clearly showing how, despite claims to the contrary, it's a failed economic growth strategy. No solution-less Chicken Little, the book is full of provocative alternatives that understand the distinctions between fulsome economic policy in a global setting and unfair political ideology masquerading as such. Supply-Side Follies is an easily grasped must-read for every voter of every stripe. (Leo Hindery, Managing Partner at InterMedia Partners and former CEO of AT&T Broadband and TCI)
Supply-Side Follies is a closely-argued broadside against the Bush administration's two-pronged economic policy of tax cuts and more tax cuts. Anyone trying to evaluate the highly politically-charged arguments that these tax cuts stimulated economic growth, and may even have paid for themselves, would profit from thinking hard about the counterarguments Atkinson marshals in his clearly-written and accessible book. (Joel Slemrod, Director, University of Michigan Office of Tax Policy Research)
About the Author
Robert D. Atkinson, Ph.D., is president of The Information Technology and Innovation Foundation, a Washington, D.C.-based non-profit think tank with a pro-innovation, pro-productivity, and digital economy public policy agenda. He was formerly vice president of the Progressive Policy Institute and project director at the Congressional Office of Technology Assessment. Government Technology magazine and the Center for Digital Government named him one of the 25 top 'Doers, Dreamers and Drivers of Information Technology' and Inc. Magazine listed Atkinson as one of '19 friends' of small business in Washington.
Most helpful customer reviews
6 of 8 people found the following review helpful.
Excellent explanation of why supply-side myth continues
By BASL
This is an excellent overview of the history of supply side economics and why it continues to be perpetuated by the Republican party. Atkinson further explains that we need to move beyond the supply-side (cut taxes and government spending) and the demand-side (government spending to boost demand) economics. Instead, we need to recognize that the fundamentals of our economics have changed to innovation and knowledge-based. Therefore, government policies must respond to this change and look at ways to improve innovation and help entrepreneurs. This, Atkinson explains, cannot come from simply cutting taxes since the availability of capital is not the fundamental problem of our economy. The problem is a lack of domestic investment opportunities. He further explains that the general consensus is that any gains from tax cuts really were realized from the cut in the top rate from 70% to the high 30% that occurred under Reagan. The marginal benefits that could be achieved from further cuts are really a distraction from the real changes that are needed.
0 of 1 people found the following review helpful.
An author who hasn't read the supply-siders he attacks
By Mike Dodaro
Atkinson begins with the premise that supply-side economics is about taxes and incentives. Evidently, he has never read George Gilder whose recent book "Knowledge and Power" explains for the umpteenth time that capitalism works because it sustains verifiable/ falsifiable experiments by entrepreneurs that produce innovation and progress.
4 of 19 people found the following review helpful.
You Can't Be Serious!!!
By M Nobleman
It's amazing that such liberal twaddle get's published. While I'll be first to admit that I only read sections of the book, I would expect that these were the sections the author felt were best representative of his overall theory. This book is an attack on supply side economics that focuses primarily on the Bush era - an era when Republicans seemed to waffle and even follow the Democrats path. Hardly the perfect example to use since most true conservatives really wouldn't have held either Bush up an shining examples of good policy making. The author uses "facts" that left me scratching my head and wondering what he was thinking. For example, he shows evidence that cutting taxes doesn't increase savings. True, but it does increase spending which in turn greases the economic wheels. Why would you even talk about savings or hours worked (another topic used to prove his points) - these are relative to people's values. Unfortunately, our society has lost many of its core values including savings and a strong work ethic. Both these can be credited to a entitlement society created in part by government give-aways. The entitlement spiral will keep on expanding as people watch others getting freebies and asking themselves why they are working so hard and wanting freebies and entitlements for themselves. This is the new economy - the one that the book ignores. It's also the economy created by years of liberal politics from both sides. The bottom line is don't waste your time on this politically biased book.
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