The experience of the Reagan administration, however, famously left supply-side theory open to debate.

By the end of the Reagan Presidency, supply-side theory had been widely discredited.

And supply-side theory allows policy makers to think about how to enhance long-term growth.

Crucial to the operation of supply-side theory is the expansion of free trade and free movement of capital.

You would think that 20 years of the demonstrated failure of this "supply-side" theory would change their minds but they choose to stick with it.

Although few economists today embrace the supply-side theory without reservations, Mr. Kemp has never lost his fervor.

How can anybody defend the supply-side theory by citing the '80s?

In short, supply-side economic theory works!

The first prediction was clearly wrong, as is the supply-side economic theory that is bankrupting our country once again.

Mr. Laffer also condemned the deficit, but said supply-side theories were not the villain.