#154 Dr. Art Laffer: We Are In The Middle Of A Massive Redistribution Revolution And It's Destroying Growth

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