Very few economists of any kind come even close to achieving celebrity. Jude Wanniski, who also worked as a journalist and commentator, was the exception.
Wanniski was an associate editor of the Wall Street Journal in 1976, when he came up with the descriptor "supply-side economics," which made him a darling of the Reagan White House. Wanniski published the influential book The Way the World Works in 1978.
Later, he broke with the Right by discrediting the George W. Bush administration's claims about the existence of weapons of mass destruction in Iraq prior to the U.S. invasion of that country, and he continued to be anti-war where Iraq was concerned.
As far back as the mid-1990s, Wanniski began warning that America's biggest economic problem would be deflation, not inflation. At this point in 2009, it seems that he might just be right.
Wanniski died in 2005 at age 69.
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