The communlque contalns a propostltlon concerning interpretation of the соncept "supply-side economics”. Its aim is to show that it is primarily a concept of economic policy composed of an "economic" and an "ideological layer. In both these layers a reference is made to certain aspeots of the clascioal llberalism. Thus, it is a conservative reaotion to Keynesism and socialism.
The "welfare state" based on rules of the state intervention in the economy having their roots in Kaynesism and welfare programs developed and expanded against this background was thriving end consolidating in the FRG in the late sixties and in the early seventies. A peculiar reaction to consolidation of the doctrine and practice of the "welfare state" in the FRG was intensification of neoconservative trends in the social thought since the early seventies. The conservative "welfare state" is a model of socio-economic stabilization connected with a new stage in development of the capitalist есоnоmу in the FRG among deteriorated general conditions of growth. The resulting model is an effect of adjustment of the neoliberal economists to the contemporary socio-economic conditions, and, simultaneously, an effect of adjustment of the economic policy concept to neoliberal values.
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