But the supply-siders jumped to the daring conclusion that a permanent cut in tax rates on labor would encourage more work permanently – with no diminution of effectiveness. Larry Summers and I both doubted that this could be generally true.
但是供应学派却又突然抛出了一个惊人的结论，持续降低劳动力税率将会持久性增加工作岗位——还不会降低效率。拉里·萨莫斯（Larry Summers）和我都对它的真实性表示怀疑。如果每次税后工资率的上升都会增加现有劳动力数量，我们推理可得，自十九世纪中期后，税后工资率的急剧增长应该已使工作时间惊人延长，退休年龄大大推后。但是相反，工作时间却减少了，退休年龄也被提前，欧洲大陆的失业率反而更高了。