Supply-side economics Supply-side economics Supply-side economics is a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulation, by which it is directly opposed to demand-side economics. According to supply-side economics, consumers will then benefit from a greater supply of goods and services at lower prices and employment will increase. It was started by economist Robert Mundell during the Ronald Reagan administration. The Laffer curve is one of the main theoretical constructs of supply-side economics, the idea that lower tax rates when tax level is too high will actually boost government revenue because of higher
From each according to his ability, to each according to his needs in solidum is that 'everyone assumes responsibility for anyone who cannot pay his debt, and he is conversely responsible for everyone else'. James Furner then argues: 'If x = a disadvantage, and y = action to redress that disadvantage, the principle of solidarity is: if any member of a group acquires x, each member has a duty to perform y (if they can assist). All we then need to add, to get to the fundamental principle of developed communism, is to assume that non-satisfaction of a need is a disadvantage. The corresponding principle of solidarity in respect of need says: