21 Jul The Emergence of Arthur Laffer: The Foundations of Supply-Side Economics in Chicago and Washington, 1966-1976
Brian Domitrovic’s recent book, The Emergence of Arthur Laffer: The Foundations of Supply-Side Economics in Chicago and Washington, 1966-1976, explores Dr. Laffer’s career before working alongside the Reagan administration. In this period, the primary focus of Dr. Laffer’s studies was monetary policy, rather than tax policy, which became the spotlight of his career during and after Reagan’s presidency.
John Tamny from RealClear Markets sings the book’s praises, claiming that in his book, Domitrovic “reveals the monetary genius of Dr. Laffer.” Tamny notes, “What’s fascinating about the time in question is how rapidly the monetary discussion changed.” In 1971, the U.S. began it’s severance from the gold standard and adopted a floating currency. During these considerable changes, and despite his disapproval, Dr. Laffer grappled with new theories to keep the U.S. economy thriving. The book also details Dr. Laffer’s time as chief economist to Nixon’s OMB.
Read John Tamny’s RealClear article here.