this post was submitted on 15 Jun 2024
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So I have never actually understood the name of this meme. Why "supply side"? What does that mean?
It's from supply-side economics:
Ahhh, thank you.
Supply and demand are two major parts of capitalist economic theory, Regan implimented economic relief for the supply side of the economy only. Corporations, owners, importers, and resource owners, like oil, gas, food, industries. While totally ignoring demand side, that's the working class side of the economy, if there isn't enough money in the demand side of the economy, it will eventually collapse. Which has happened several times, why are we still here and still doing this? Because were not a capitalist economy. We're a state capitalist economy. Financial institutions fail? Government bail outs, stagnating wages hurting demand? Work tax credit, still not enough money in the market? Deregulate credit lenders, payroll still can't cover basic living? SNAP program subsidized the cost of living, letting owners continue to stagnate wages while not paying enough to keep the middle class capable of participating in the market.
We've been doing this a long time.
The State now controls the economy, almost exclusively helping corporations and the very rich, with no strings attached.
Supply side only economics at work.
It's a caricature Al Franken (who went on to become a Democrat senator) came up with for his book Lies and the Lying Liars Who Tell Them.
You can see some of the original comics here: https://www.beliefnet.com/news/2003/09/the-gospel-of-supply-side-jesus.aspx