The Joint Economic Committee in the Early 1980s: Keynesians versus Supply-Siders

The activities and policies of the Joint Economic Committee (JEC) in the 1980s that pitted supply-side economists against Keynesian economists are examined. The debate within the JEC in the early 1980s was a microcosm of a larger public policy debate on the merits of the traditional Democratic economic policy based on Keynesian economics and supply-side economics, which was embraced by Republicans. Although the Democrats never fully embraced supply-side economics, their tepid support for Keynesian economics and modest support for supply-side economics under Lloyd Bentsen were politically important at a critical moment in time