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Those familiar with the history of twentieth 20th-century economic thought know of the dominance of "Keynesian economics" following the Second World War. While John Maynard Keynes typically receives credit for transforming economics, much postwar Keynesian economics was actually developed by his interpreters and followers. Perhaps the single most important one of these followers was the Romanian born economist Abba P Lerner. Keynes's book The General Theory of Employment, Interest, and Money popularized the notion that market economies were prone to persistent unemployment. Keynes often receives credit for promoting government deficit spending as a means of combating unemployment. However, Abba Lerner...

Just because counterproductive economic policies have been around for a long time doesn’t mean we shouldn’t try for a better world. There’s a proven pro-growth, pro-liberty path.Both Republicans and Democrats at the national level have put us down a path of slow growth, massive deficits, and high inflation. With a new Republican majority in the U.S. House and the daunting debt ceiling fight over the bloated $31.4 trillion national debt almost exclusively due to excessive spending, there’s a proven pro-growth, pro-liberty path.In 2022, the U.S. had real GDP growth of just 0.9 percent (Q4-over-Q4), the highest inflation in 40 years,...

Laffer said in a recent interview with Just the News that the government's widespread shutdown of society to slow the spread of coronavirus was medically necessary and fit within "reasonable limits," but reopening the economy should be based on calculated, fact-based risk rather than irrational, widespread fear "Let me tell you how I feel," Laffer said. "Now I'm 80. I've got six children, 13 grandchildren, and I have four great grandchildren. Really cool people. People I love more than life. I am perfectly willing to accept the higher risk of mortality, of dying, if I can feel better about their...

Laffer Curve strikes again: lower tax rates produced more revenue The results of last year's Trump tax cut are starting to roll in, and they should not be surprising to students of the Laffer Curve or readers of this blog. As I noted last October, not cutting taxes rates is boosting the deficit: Since early last year (February 2016, to be exact), when talk of tax cuts began to spread and politicians on both sides of the aisle began to agree that our corporate tax rate—the highest in the developing world—should be cut, revenues from corporate and individual income taxes...

The unsung hero of the GOP Christmas gift of a tax cut is Arthur Laffer -- the Reagan economist who helped devise the Gipper's tax reductions. Those tax cuts rebuilt the U.S. economy in the 1980s and pulled us out of the mini-depression of high inflation and unemployment in the late 1970s. Some 30 years later, Laffer has struck again. House Speaker Paul Ryan tells me that there "were very few economists who had a bigger impact on this tax bill than Laffer. Believe, me our (Republican) members listen to him." Rep. Mark Meadows, the chairman of the Freedom Caucus,...

The following paints a grim scenario. As you consider it, remember that sociopaths have no empathy. Thus, they have no gut feelings, no inner voice, to guide them about right or wrong, good or bad, wise or unwise. If you try to put yourself in Trump’s shoes, and conclude that you would never, could never, do such things, as a human being or as an American, you are using the wrong yardstick. Trump’s yardsticks are his own malignant narcissism first and Steve Bannon second. Rubles-to-doughnuts, Steve Bannon is painting this picture for Trump right now: With the appointment of Robert...

Love to see everyone enjoying the afterglow of this amazing GOP Convention. Haven’t felt like this politically since 1980. I think morning is once again coming to America. Art Laffer, economist, has analyzed Trumps chances and it brought up some thoughts I have on the Laffer Curve. I love the curve but I hate the terminology... Laffer and Reagan brought us an unprecedented and historic 25 years of growth and prosperity until the Left finally shut it down. Tax cuts are a must, but we need to flip the reasoning - we need to change the terminology and the paradigm...

Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...

Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...

Arthur Laffer of Laffer Associates reacts to presidential candidate Ted Cruz's tax plan, in which Cruz proposes individuals above certain income threshold pay a 10 percent flat tax, and a 16 percent flat tax on companies. http://video.cnbc.com/gallery/?video=3000509983

On the Sunday broadcast of "The Cats Roundtable" on New York City's AM 970, host John Catsimatidis spoke about the upcoming 2016 presidential election with economist Arthur Laffer, a former member of President Ronald Reagan's economic policy advisory board. Laffer not only predicted a victory for the GOP, but he would be "surprised" if they did not take as many as 47 of the 50 states. "I would be surprised if the Republicans don't take 45, 46, 47 states out of the 50," he said. "I mean, I think we're going to landslide this election."[continued]

As we've cheerfully noted on these pages, the good news on the presidential campaign trail is that almost all Republicans are now for serious pro-growth tax reform and simplification. Every candidate wants lower rates (some a one-rate flat tax), fewer loopholes and carve-outs, and a reduced role for an abusive IRS. What a contrast with Bernie Sanders, who declared at last week's Democratic debate that he could live with a 90% tax rate on the rich. Why not take it all, Bernie? All the GOP tax plans look good to us — though some are admittedly better than others. The...

This was Neal Cavuto last night.

'Government is not the solution to our problem; government is the problem," may well be President Reagan's most oft-repeated quote. And the reason it's so frequently quoted is because it's so damn true. And no example fits this quote better than the government actions taken before and during the Great Depression. In 1929, the single largest tax increase on traded products was passed by both the U.S. House and the U.S. Senate. In May 1930, this so-called Smoot-Hawley tariff was signed into law by President Herbert Hoover, which precipitated massive retaliation on U.S. products by foreign governments. From that moment...

IÂ’m a big advocate of the Laffer Curve. Simply stated, itÂ’s absurdly inaccurate to think that taxpayers and the economy are insensitive to changes in tax policy.Yet bureaucracies such as the Joint Committee on Taxation basically assume that the economy will be unaffected and that tax revenues will jump dramatically if tax rates are boosted by, say, 100 percent.In the real world, however, big changes in tax policy can and will lead to changes in taxable income. In other words, incentives matter. If the government punishes you more for earning more income, you will figure out ways to reduce the...

Americans are right to be feeling so down about the economy, according to Art Laffer. The former economic advisor to President Ronald Reagan said Saturday that he can understand why people's views on the jobs market, inflation, and growth remain negative, despite a strong 2023 where price pressures cooled and the US managed to dodge a long-expected recession. "Let me just give you where the huge disconnect comes here," he told Fox Business. "People care about jobs, not unemployment rates, and so when you look at total jobs, it's way down."

The whole video is 1:02 hours. They had covered several topics and had been talking Money Supply and Crypto when Art delivered this message towards the end of the video. And this was extracted from Youtube transcript. I may not have attributed every word correctly. And Youtube may not have captured every word correctly. ... Art: now you know why everyone's investing in Ireland because the capital is always Dublin. ... Cathie: my biggest fear is we are going to lose Innovation Art: we're not the we're not this is a Cathie: we're not? Art: no what you may lose...

Reagan Economic Advisor Arthur Laffer explains what we need to do in order to beat 9.1% inflation

Economic adviser to late President Ronald Reagan Arthur Laffer joined Fox Business yesterday to dismantle the nutty economic thinking behind President Joe Biden’s leftist tax agenda. Fox Business host Larry Kudlow asked Laffer if it was “true that rich people and corporations — and by the way, small business tax hikes are in this Democratic plan — is it true they don’t pay their fair share?” Biden has been reportedly eyeing the “first major” tax hike since 1993, which would include reversing some of former President Donald Trump’s tax cuts. Laffer didn’t hesitate in his answer: “No, it’s not true,...

Renowned economic advisor to late President Ronald Reagan Art Laffer remains very optimistic about a rapid economic recovery, which flies right in the face of the apocalyptic narratives put out by the media. Laffer concluded that once big states “get pro-growth, once they get the restrictions removed because the disease incidence is less, you’re going to get that economy continuing to boom. I think we’re perfectly poised for a very, very rapid, continued recovery in this economy. “I am very optimistic about the country and the economy,” Laffer said.