レーガノミックスの再検討 : サプライサイド政策を中心に

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This report is trying to review the "Reaganomics" policy of the early 1980's, which was supposed to distinctively lean on supply-side ecconomics utilizing such measures as broad tax cuts. Reviewing the supply-side economic policies adopted by the Reagan administration shows us a couple of its special features. First, supply- side policies in the Reagan era were far from new, because almost the same kind of measures, including broad tax cuts, had been taken under the Kennedy administration. As a typical Keynesian policy of the early 60's it had partly the same results expected from supply-siders in the Reagan era. Second, in the short term, supply-side policies did not improve supplyside performance (e. g., higher productivity) but unintentionally produced demand-side effects along Keynesian lines. Supply-siders mistakenly neglected their effects. Third, in the long term, it is quite probable that supply- side policies have been implicity sustaining the long and brilliant expansion of the U. S. economy through the 90's by improving economic growth potential or durability against economic downward pressure. The positive effect of supply-side economics, even though it is still controversial and has not developed as had been initially expected, cannot be completely denied in the long term. Under the current situation, in which supply-side economics is still often criticized and nearly forced to retreat from the academic world, it seems an irony that silent supply-side effects may have been encouraging the U. S. economy.
恵泉女学園大学の論文

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坂井誠
恵泉女学園大学

レーガノミックスの再検討 : サプライサイド政策を中心に

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