The Ministry of Energy explained how supply-side economics should work

Russian Reaganomics

Supply-side economics emerged in the United States in the mid-1970s in response to stagflation (both economic stagnation and high inflation). This is an anti-Keynesian theory, that is, it assumes that government participation in the economy should be kept to a minimum. “Supply-side economics” became a common term during the presidency of Ronald Reagan, who used it to describe his fiscal policies. During his 1980 presidential campaign, a key US issue was double-digit inflation, which Reagan described as “too many dollars chasing too few goods.” Supply-side economics and so-called Reaganomics are often used interchangeably.