KEY TAKEAWAYS:
Supply-side economics holds that increasing the supply of goods translates to economic growth for a country.
In supply-side fiscal policy, practitioners often focus on cutting taxes, lowering borrowing rates, and deregulating industries to foster increased production.
Supply-side fiscal policy was formulated in the 1970s as an alternative to Keynesian, demand-side policy.
The validity of this theory remains contested on both theoretical and empirical grounds, with advocates on both sides of the debate.