Regardless of a country’s natural resources, culture, or education, the institutions it has in place are far more significant in explaining its economic development. Countries...
Supply-side economics emphasizes economic growth achieved by tax and fiscal policy that creates incentives to produce goods and services by lowering marginal tax rates to increase the after-tax rate of return.
Arthur B. Laffer’s economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s have earned him the distinction in many publications at “The Father of Supply-Side Economics.”