Dr. Art Laffer, one of the most influential economists of the past half-century, joins Julia La Roche for episode 154.
Dr. Laffer is the founder and chairman of Laffer Associates, an economic research and consulting firm. Known as the "Father of Supply Economics," he is famous for developing the Laffer Curve, a representation of the relationship between tax rates and tax revenue that was foundational to supply-side economics.
Dr. Laffer served as a member of President Reagan's Economic Policy Advisory Board for both of Reagan's terms.
In our wide-ranging discussion, Dr. Laffer shares his insights on the current state of the U.S. and global economy, fiscal and monetary policy, and his outlook for the future.
Links:
https://www.amazon.com/Taxes-Have-Consequences-Income-History/dp/1637585640
Timestamps:
00:00 Introduction and Overview
01:08 The Five Pillars of Prosperity
11:13 Factors Leading to the Current Situation
26:08 Addressing Incentives in Politics
30:41 The Flawed Logic of Stimulus Spending
35:17 The Fallacy of Redistribution
37:38 The Impact of Tariffs and Trade Policies
38:04 The Lack of Economic Understanding Among Professional Economists
39:02 The Laffer Curve and Tax Rates
40:19 The Role of Private Money in the Economy
44:34 The Possibility of a Low, Broad-Based Flat Tax Rate
50:25 The Failure of Government-Controlled Money
54:30 Assessment of the Federal Reserve and Monetary Policy
57:23 The Importance of Economic Principles over Political Labels
01:01:50 Future Topics: Medical Transparency, Debt, Enterprise Zones, and Climate Change
