Markets certainly aren’t immune to failure–however, many economic models exploring “market failure” and classic textbook examples criticizing free-markets utilize unrealistic ...
Supply-side economics emphasizes economic growth achieved by tax and fiscal policy that creates incentives to produce goods and services by lowering marginal tax rates to increase the after-tax rate of return.
Arthur B. Laffer’s economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s have earned him the distinction in many publications at “The Father of Supply-Side Economics.”