Economist Jude Wanniski, the man who coined the term “supply-side economics,” died of a heart attack earlier today at 69.
The former WND columnist was founder and chairman of Polyconomics, Inc., and author of the 1978 book “The Way the World Works,” named one of the 100 most influential books of the 20th century by the editors of the National Review. At the heart of the book is his 1978 discovery of the cause of the 1929 stock market crash, a discovery that vindicates the classical economics, which had been blamed for the crash and the Great Depression.
“Jude will be greatly missed by all who knew him,” said Joseph Farah, editor and founder of WND. “To me he was a curmudgeonly adviser and friend. He had a sharp and biting wit and never hesitated to say what was on his mind – whether you liked it or not.”
It was during his tenure as associate editor of The Wall Street Journal – 1972 to 1978 – that he coined the phrase “supply-side economics.” He was an adviser to Ronald Reagan from 1978 to 1981, and designed the Reagan tax cuts that propelled the U.S. economy out of stagflation and led to the great stock market boom that followed.
He counseled Democrats as well as Republicans in the years since, pro bono, and developed pro-growth strategies for several governments.
In recent years, he became an ardent anti-war activist.
Wanniski appeared frequently in the broadcast and print media, and also wrote weekly commentary for the Polyconomics website. He also presided over a free, virtual “Supply-side University,” which has 3,000 registered students around the world. Wanniski held a B.A. in political science and an M.S. in journalism from UCLA.