That’s a bit reductive, too.
I recall economists arguing the Laffer curve is valid & the US is on the low tax-rate side of the optimal tax rate, and that was decades ago.
They’ll show the deadweight loss of taxes & also point out its regulatory uses to correct market failures.
It’s also not a recent development.
The field is broad and includes leftists & Marxists applying the same methods to study different problems.
That’s a bit reductive, too. I recall economists arguing the Laffer curve is valid & the US is on the low tax-rate side of the optimal tax rate, and that was decades ago. They’ll show the deadweight loss of taxes & also point out its regulatory uses to correct market failures.
It’s also not a recent development. The field is broad and includes leftists & Marxists applying the same methods to study different problems.