You know, without China there is no Wal-Mart and without Wal-Mart there is no middle class and lower class prosperity in the United States.
Arthur Laffer Quotes
I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten.
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| Birth: | 14th August, 1940 |
| Nationality: | American |
| Profession: | Economist, Professor |
About
Arthur Betz Laffer was born in Youngstown, Ohio. He is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board. Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. He is the author and co-author of many books and newspaper articles, including Supply Side Economics: Financial Decision-Making for the 80s. Laffer is Policy Co-Chairman of the Free Enterprise Fund. Laffer earned a B.A. in Economics from Yale University and an M.B.A. and a Ph.D. in Economics from Stanford University. He has stated publicly that he voted for President Bill Clinton in 1992 and 1996. Laffer references President Clinton's conservative fiscal policies as cornerstones of his support. Laffer also regularly writes opinion articles in The Wall Street Journal.
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