Famous American liberal economist, born August 14, 1940, Arthur B. Laffer obtained his Ph.D. in Economics from Stanford University in 1972.
His fame goes back to the mid-1970s, when he demonstrates that “too much tax kills the tax” with the now famous Laffer curve. In the late ’70s, Mr. Laffer is the first economist to advance the possibility of applying this finding to the US tax system. The Laffer curve has influenced a global tax reduction movement since the 1980s.
From 1967 to 1976, Mr. Laffer was a member of the Faculty of Economics at the University of Chicago Graduate School of Business and Associate Professor, from 1970 to 1976. From 1970 to 1972, he was the first to hold the title of Chief Economist at the Office of Management and Budget. From 1972 to 1977, Arthur B. Laffer was a consultant to Treasury Secretary William Simon, Defense Secretary Don Rumsfeld and Secretary of the Treasury George Shultz. Mr. Laffer was a senior adviser to the Reagan Administration (1981-1989). More recently, Dr. Laffer advised Donald Trump on his campaign for the presidency of the United States in 2016.
Dr. Laffer is the author of several books, including The End of Prosperity, How Higher Taxes Will Doom the Economy, If We Let It Happen, published in 2008, and nominated for the FA Hayek Book Award in 2009. He also wrote Return to Prosperity in 2010 and the New York Times Best Seller An Inquiry into the Nature and Causes of the Wealth of States, and its sequel Wealth of States: More Ways to Enhance Freedom, Opportunity and Growth.
Dr. Laffer has been widely acknowledged for his economic achievements. He was noted in Time magazine’s March 29, 1999, cover story “The Century’s Greatest Minds” for inventing the Laffer Curve, which it deemed one of “a few of the advances that powered this extraordinary century.” He was listed in “A Dozen Who Shaped the ’80s,” in the Los Angeles Times on Jan. 1, 1990, and in “A Gallery of the Greatest People Who Influenced Our Daily Business,” in The Wall Street Journal on June 23, 1989. His creation of the Laffer Curve was deemed a “memorable event” in financial history by the Institutional Investor in its July 1992 Silver Anniversary issue, “The Heroes, Villains, Triumphs, Failures and Other Memorable Events.” In addition, Bloomberg Businessweek selected the Laffer Curve as one of the “85 Most Disruptive Ideas in Our History” for its 85th anniversary issue in 2014. Furthermore, he was awarded the Hayek Lifetime Achievement Award in 2016
Since 1979, Mr. Arthur B. Laffer has been the founder and chairman of Laffer Associates, a firm specializing in economic research that provides global investment research services to institutional asset managers, pension funds, institutions and companies. Laffer Investments, meanwhile, offers unique investment strategies managed by the portfolio management group of the company.