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Essay / Research Paper Abstract
A 4 page review of the life and theories of Arthur "Art" Laffer. This paper illustrates the various application of Laffer's so-called Laffer curve. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: AM2_PPecnLaf.rtf
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Unformatted sample text from the term paper:
Most accounts on Arthur Laffer begin with the obligatory story of him on December 4, 1974 sitting in a coffee shop. The historic stage for the
coffee shop was the Gerald Ford Presidency. Laffers fellow actors in the coffee shop scene were Dick Cheney (Cheney when he was just a mere Ford administration staffer of course)
and Jude Wanniski, an editorial writer for the Wall Street Journal. According to the legend that is when Laffer first presented what would become the now infamous Laffer curve
(Levinstein 64). According to Levinstein (64), however, neither Cheney nor Laffer remember the well publicized incident. It was recorded for infamy, however, by Wanniskis journalistic pen. Although
perhaps best remembered for this infamous scene, Arthur "Art" Laffers life and accomplishments were in reality more deeply immersed in economic theory and strategy than such a simplistic account, or
the perceived flaw in his theory that would surface just a few years later when the Reagan administration acted on the theory, could ever convey.
Laffers work ranged from academia to politics and embraced several noteworthy accomplishments. He held a B.A. (Yale University, 1963), an MBA (Stanford University, 1965), and a
Ph.D. (Stanford University, 1971), all in economics (Barber and Associates). At the time of the coffee house incident Laffer was already a professor of economics at the University of
Chicago (Levinstein 64). He had already leant an invaluable hand in shaping the terms of Californias Proposition 13, a move that dramatically slashed property taxes with no long term
ill effect to California revenue (Barber and Associates). By 1979 he had founded Laffer Associates, a consulting firm that specialized in research on the various demographic and political factors
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