Arthur B. Laffer

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Arthur B. Laffer
Occupation Economist

Arthur Laffer is often called 'The Father of Supply-Side Economics' because of his influence in triggering a worldwide tax-cutting movement in the 1980s, as a member of President Ronald Reagan's Economic Policy Advisory Board. He was also a member of the Executive Committee of the Reagan/Bush Finance Committee in 1984 and was a founding member of the Reagan Executive Advisory Committee for the presidential race of 1980.

He was recognized by Time Magazine in its March 29, 1999, cover story, "The Century's Greatest Minds" for inventing the Laffer Curve, which Time called 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.

Laffer was awarded two Graham and Dodd Awards from the Financial Analyst Federation for outstanding feature articles published in the Financial Analysts Journal; the Distinguished Service Award by the National Association of Investment Clubs; the Adam Smith Award for his insights and contributions to the Wealth of Nations; and the Daniel Webster Award for public speaking by the International Platform Association.[1] 

Background

Laffer was formerly the Distinguished University Professor at Pepperdine University and a member of the Pepperdine Board of Directors. He was also the Charles B. Thornton Professor of Business Economics at the University of Southern California from 1976 to 1984. He was an Associate Professor of Business Economics at the University of Chicago from 1970 to 1976 and a member of the Chicago faculty from 1967 through 1976.

From 1972 to 1977, he was a consultant to Secretary of the Treasury William Simon, Secretary of Defense Don Rumsfeld and Secretary of the Treasury George Shultz. He was the first to hold the title of Chief Economist at the Office of Management and Budget (OMB) under Mr. Shultz from October 1970 to July 1972.

Education

Laffer received a B.A. in economics from Yale University in 1963. He received a MBA and a Ph.D. in economics from Stanford University in 1965 and 1971 respectively.

References

  1. Arthur B. Laffer. EconomyProfessor.