In the 1970s, monetarism has adapted into supply-side economics which advocates reducing taxes as a means to increase the amount of money available for economic expansion.
Those on the left don't understand supply-side economics as a macroeconomic innovation that cured stagflation by utilizing the impact of fiscal policy on aggregate supply.
As in classical economics, supply-side economics proposed that production or supply is the key to economic prosperity and that consumption or demand is merely a secondary consequence.
These policies are commonly associated with supply-side economics, referred to as trickle-down economics by political opponents and free market economics by political advocates.