The phrase 'supply side economics' was officially coined by a journalist by name Jude Wanniski in the year 1975, who later elaborated on the same in his book, 'The way the world works'.Basically, supply side economics is a theory which is based on the age old principle of supply and demand. The theory mainly focuses on increasing supply in the market, so as to eventually increase demand for several other products too. The book, ‘the way the world works’, explained the major aspects of supply side economics in detail. It also covered several other topics like increasingly high tax deductions and other monetary policies. All in all, the journalist was in favor of a reduced taxing system.

This was how supply side economics came into existence, however all the features of it are well explained in a book called 'The Foundations of Supply Side Economics', which was written by the economist Victor Canto, approximately 5 years after 'The Way the World Works' was published. The book correctly explains the entire theory in detail, while covering every nook and corner in doing so. Even though he and other early studiers of supply side economics believed that the theory would prove to be beneficial in the long run, most economists today seem to claim otherwise. It is so believed by the younger generation that supply side economics can prove to be effectively profitable even on a short term basis.

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