This comprehensive study on Kentucky’s economic history and prosperity agenda examines state revenue, pensions, tax structure, and political corruption. While Kentucky’s economic performance has historically ranked poorly, Dr. Laffer offers remedies for a path forward. Link to study: The Commonwealth of Kentucky - An Economic History and Prosperity Agenda
I spent all weekend thinking about Bob Mundell. I had just gotten the hard copy of my own book released several weeks ago, and I was reading it, beginning with the dedication: To Bob Mundell. Robert A. Mundell, the 1999 Nobel Prizewinner in economics and in an easy argument the greatest economist of the last…
Robert A. Mundell, the 1999 Nobel Prizewinner in economics and in an easy argument the greatest economist of the last several generations, died April 4 in his beloved Italy at the age of 88.
On the death of legendary public servant George P. Shultz several days ago, the New Republic ran an extraordinary piece of historical reflection, Bruce Bartlett’s “George Shultz, the Godfather of the Discredited Laffer Curve.” Bartlett’s piece uses Shultz’s death as the merest of pretexts for its principal purpose, which is to ridicule Arthur Laffer’s turn…
Take a couple of minutes to brush up on your free market knowledge with a crash course from Dr. Laffer.
It’s a fact: economists know that monetary policy caused the Great Depression. The economy of the late 1920s was overheated with a bloated stock market—caused by excessive tax cuts for the rich, unsupervised banks and overleveraged credit. The inevitable reckoning came at the hands of an ultra-conservative Federal Reserve, tight monetary policy and an inflexible gold standard.
Professor Saez, the Svengali of raising tax rates on the rich, argues that a tax rate of 73% on the top 1% of income earners raises the most revenues. Somehow, he must have overlooked the 1920s when the highest tax rate was cut from exactly 73% down to 25% and revenues exploded as never before.
When the recent public health crisis took shape in early March, one of the intriguing events that was postponed until the fall was a debate between Arthur Laffer and Emmanuel Saez on the issues of inequality, top income tax rates, and the possibility of a wealth tax. The debate was to have taken place at Pepperdine University in California. Saez, a proud man of the left, is one of the most prominent economists in the world—recent striking evidence being the honorary degree that Harvard University conferred upon him last year.
