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
What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money.
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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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