Supply-side Economics (Noun)
Meaning
The school of economic theory that stresses the costs of production as a means of stimulating the economy; advocates policies that raise capital and labor output by increasing the incentive to produce.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The politician's platform was built on supply-side economics, with a focus on reducing taxes to boost business investment and job growth.
- Supply-side economics argues that high taxes and government regulations stifle economic growth by discouraging innovation and entrepreneurship.
- The government's decision to cut corporate tax rates was seen as a victory for supply-side economics, which holds that lower taxes will lead to increased economic output.
- Critics of supply-side economics argue that it favors the wealthy at the expense of the poor, and that its policies have exacerbated income inequality.
- The economist's influential book on supply-side economics challenged the conventional wisdom on government intervention in the economy, advocating instead for a more laissez-faire approach.