Dr. Robert Goodman is the managing director and senior economic advisor for Putnam Investments. He knows what he's talking about, which is why he frequently appears on television and is the author of the book, How to Build Financial Security in the New Economic Era (Wiley & Company).

I recently saw Bob in Boston at an advanced investment management conference. He says that this country's present economic problems are different from the ones we faced some 25 years ago. "Back then, supply constraints were the cause of economic instability, sluggish growth, inflation, and high and rising interest rates." Policy, he adds, at that time, called for a supply-side solution which meant tax cuts for corporations, investors, savers, and high-income individuals.

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