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SUPPLY SIDE POLICY - Coggle Diagram
SUPPLY SIDE POLICY
to increase competition
Deregulation
Privatisation
Anti-monopoly regulation
Trade liberalisation
for the labour market
Reducing the power of labour unions
Abolishing minimum wages
Reducing unemployment benefits
Incentive-related supply-side policies
Personal income tax cuts
Cuts to business and capital gains tax
Goals of supply-side policies
Long-term growth by increasing the economy’s productive capacity
Improving competition and efficiency
Reducing labour costs and unemployment through labour market flexibility
Reducing inflation to improve international competitiveness
Increasing firms’ incentives to invest in innovation by reducing costs.
Interventionist supply-side policies
education or other forms of training
improving quality, quantity and access to health care
research and development
provision of infrastructure
industrial policies