Supply-side economics

Japanese: 供給側の経済学 - きょうきゅうがわのけいざいがく

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[Inflation and tax rates]
In the 1970s, Western countries all suffered from double-digit inflation rates, but at the same time, their economic growth rates were extremely low. In these circumstances, the argument that inflation caused effective tax rates to rise and became a hindrance to labor, savings, investment, etc. was made in what was called "supply-side economics." In other words, under a progressive personal income tax, the tax rate is determined in response to nominal income.

From [Economic Growth]

…The process by which the size of the national economy expands year by year is called economic growth, and specifically, gross national product (GNP) (or gross domestic product (GDP)) and real national income (NI) are the objects of measurement. This term is sometimes used synonymously with economic development, but as shown in J. Schumpeter's "The Theory of Economic Development," the term economic development is usually concerned with discontinuous changes in economic quantities, including changes in the economic structure, whereas economic growth is often concerned with continuous or harmonic changes in economic quantities. …

*Some explanations of terms that refer to "supply-side economics" are listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

Japanese:

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【インフレと税率】
　1970年代の欧米諸国はいずれも2けたに近いインフレ率に悩まされたが，同時に経済成長率もきわめて低かった。このような状況において，インフレの結果，実効税率が上昇して，労働，貯蓄，投資等の足かせとなっている，との主張が〈供給側(重視)の経済学supply‐side economics〉としてなされた。すなわち，累進的な個人所得税のもとで，税率は名目所得に対応して決まっている。…

【経済成長】より

…国民経済の規模が年々拡大していくプロセスを経済成長といい，具体的には国民総生産＝GNP(あるいは国内総生産＝GDP)や実質国民所得(NI)が，その計測の対象となる。この語は，ときには経済発展と同義に用いられることもあるが，J.シュンペーターの《経済発展の理論》に示されているように，普通には経済発展という用語は経済構造の変革を含む経済諸量の断続的変化が問題とされるのに対して，経済成長という場合には経済諸量の連続的変化や調和的変化が問題とされることが多い。…

※「供給側の経済学」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典第２版について | 情報

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