The history of Republican economic stupidity

[ivwshane]

I thought this was a good read on the origin of Republican economics. Its particularly telling that the laffer curve has cemented itself in Republican policy because it was easy to understand and made sense, in other words, it felt right.

https://qz.com/895785/laffer-curve-...about-trickle-down-economics-and-reaganomics/

 

[greatnoob]

I don't know who this Laffer bloke is but he sounds like a classical Republican moron. Pun intended.

What does Krugman have to say about him?

 

[ivwshane]

I don't know who this Laffer bloke is but he sounds like a classical Republican moron. Pun intended.

What does Krugman have to say about him?

Funny you should ask-

And when I say “they predicted”, I especially mean Laffer himself, who has a truly extraordinary record of being wrong at crucial turning points. As Bruce Bartlett pointed out a few years ago, Laffer was even wrong during the Reagan years: he predicted that the Reagan tax hikes of 1982, which partially reversed earlier cuts, would cripple the economy; “morning in America” promptly followed. Oh, and let’s not forget his 2009 warnings about soaring interest rates and inflation.

https://mobile.nytimes.com/blogs/krugman/2015/04/10/the-laffer-swerve/?referer=