Leonard Rapping was an economist, most famous for his work with Robert E. Lucas which laid the foundations for real business cycle theory. Although the implications of this work supported laissez-faire

Laissez-faire

In economics, laissez-faire describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies....

 policies, Rapping's ideas subsequently evolved in a radical direction. He was highly critical of the supply-side policies of the Reagan Administration

Ronald Reagan

Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....

.