Brent Cebul: Supply-Side Liberalism: Fiscal Crisis, Post-Industrial Policy, and the Rise of the New Democrats

This has relatively little to do with my brand of “Supply-Side Liberalism,” but given the coincidence of the name, I thought I would post the link in case someone is interested. Here is the abstract:

A new generation of liberals emerged in the 1970s, a decade of stagflation, deindustrialization, global capital flight, and public sector fiscal crises. Prevailing interpretations of New Democrats like Bill Clinton and Michael Dukakis explain their emphasis on entrepreneurialism and post-industrial sectors as the byproduct of cynical electoral strategies of “triangulation,” that is, primarily as a reaction to the rise of Reagan Republicanism. This article instead positions their political economy as part of a much longer history of liberals’ efforts to restructure the economy in order to stimulate new jobs and tax revenues that might also generate public revenue and support a progressive policy agenda. With roots in local, state, and regional industrial policies inspired by the New Deal, “supply-side liberalism” reemerged with force in the 1970s and 1980s, revealing heretofore unappreciated continuities that contextualize and clarify the origins of New Democrats’ promotion of a set of seemingly “neoliberal” economic policies.