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Technology Stocks : George Gilder - Forbes ASAP
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To: George Gilder who wrote (81)10/1/1997 1:16:00 AM
From: JF Quinnelly   of 5853
 
There is something I've been curious about since reading Martin Anderson's book Revolution. As you no doubt are aware, Martin Anderson is an economist and was a close and long-time advisor to Ronald Reagan. In his book, Mr Anderson has a lengthy passage in which he objects to "the myth of the supply-siders", complaining that no Reagan economist ever stated that cutting tax rates would increase the yield to the Treasury; moreover, he claims such an increase didn't happen, but rather what did happen is that the loss to the Treasury was less than what was predicted by static analysis.

Mr. Anderson appears to blame you and Jude Wanniski for popularizing "the myth of the supply-siders", and believes that you all misled the public by claiming that it was the goal of President Reagan and his economic team (I have recently heard Rush Limbaugh repeat "the myth" on his program, claiming that tax cuts will bring in higher receipts to the Treasury. "The myth" appears to live on.)

Mr Anderson faults liberal economists and journalists for equating the Reagan program with "the myth", claiming that you and Mr Wanniski were responsible for "the myth", that you aren't economists, and that you didn't work for President Reagan anyway. Have you replied to Mr Anderson? It's a controversy that may not interest very many, but I find it intriguing. I'd appreciate reading your response to Mr Anderson.
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