Word: lafferism
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...Laffer and Wanniski have now been shunted aside, and Kemp, while he still campaigns hard for Reagan, is no longer regarded as an influential issues adviser. The current program was shaped by study groups organized by Martin Anderson, a conservative economist who was an adviser on domestic affairs in the Nixon Administration. The panels included Alan Greenspan, former chairman of the Council of Economic Advisers and a member of TIME's Board of Economists, George Shultz, former Secretary of the Treasury, and Charls Walker, a leading tax expert. The group is sometimes joined by Arthur Burns, conservative chairman...
Reagan has consistently favored a tax cut not as an antirecessionary measure but as a goal in itself. The intellectual underpinnings for Reagan's current ideas were supplied mostly by Arthur Laffer, an iconoclastic young (40) professor at the University of Southern California whom Reagan began consulting in 1976, when most of the powers in traditional Republican economic thought were allied with Gerald Ford. Laffer is the originator of the Laffer Curve, a diagram that he delights in sketching on napkins at any dinner he happens to attend. It purports to show that past a certain hard-to-determine...
...Laffer sold his ideas to Jack Kemp, a former pro-football quarterback, now a New York Congressman, and a Reagan idea man, who introduced the Kemp-Roth Bill to cut taxes 30% over three years. It became official policy of the G.O.P. leadership...
...blond hair, black velvet jacket, red scarf, clodhopper shoes and, of course, trademark potato nose. After 30 years with the circus, Oleg Popov, 49, is regarded as the king of clowns even beyond Soviet borders. How long did it take to dream up the medical mayhem in his latest laffer? Says Popov: "Six months, plus my entire life...
...brightest younger economists on campuses, including Harvard's Martin Feldstein, Southern California's Arthur Laffer and Stanford's Michael Boskin, generally emphasize the strengths of the free market and the failure of government intervention. The theme that unites them is skepticism