Reviewing And Criticizing Of The Supply-side Economics Idea

Since the financial crisis swept the world in 2008,Chinese economic development has gradually emerged some problems that will need to be addressed,such as over capacity,debt-infested,asset bubbles and a series of structural problems.Therefore the General Secretary Xi Jinping putted forward the "supply side of the structural reform" in the central financial leadership group at the eleventh meeting which was hold in the November 10 2015.The ideas and policy proposals of the Supply-side economics once again returned to the people's vision to the east wind.This article begins with the logical thoughts and theoretical origin of supply-side economics,along with the trajectory of historical development,and elaborates the stages in germination,the embryonic form and the forming process of the supply-side economics thoughts.And discusses the challenges encountered in the development of supply-side economics thoughts-"Keynesianism" and the rise and fall of the development in different economic type,social and historical environment,then show the views and ideas between them.The author not only summarizes the similarities and differences between the supply of supply-side economics thoughts and"Keynesianism",but also lays a good foundation for further development of supply-side economics thoughts.For the specific practical application of the supply-side economics thoughts,the "Reagan economics" of the 1970s and 1980s was quite representative,therefore the author discusses and analyzes the background of"Reagan economics",the use and performance of supple-side economics thoughts and the difficulties and the challenges in the late practice of the "Reagan economy Learning " in the United States in detail.In the elaboration of the difficulties and challenges of "Reagan Economics",the author introduces the academic history of the supply-side economics in our country.The author thought that the development of supply-side economics.The author thought that the development of supply-side economics in our country can be divided into three stages--Cognitive and enlightenment stage,exploration and suggestion stage and theoretical innovation and policy refactoring stage,and in the stage of theoretical innovation and policy reconstruction,Chinese scholars put forward the theoretical system of new supply economics,which corresponds to the " China Characteristics "and the background of the times,and serving tracing and surpassing strategy of Chinese modernizations and realizing the great revival of Chinese.The author compares the new supply-side economics with the supply-side economics thoughts,combined with current the economic problems and social background of Chinese,raises supply-side structural reform of China.The author introduces the background of the supply-side structural reform and discusses that the supply-side structural reform is not a simple repetition of supply-side economics thoughts,but the innovation and breakthrough on the basis of the Marxist political economy as a practical guide which is the practical criticism of supply-side economics thoughts.