Supply-Side Hero Arthur Laffer to Receive Presidential Medal of Freedom

Next week, Donald Trump will award the Presidential Medal of Freedom to “the Godfather of supply-side economics,” Arthur Laffer. Trump’s decision to bestow America’s highest civilian honor on Dr. Laffer is one for enormous celebration, as few have contributed more to American prosperity than he has. Arthur Laffer came to prominence in the 1970s by championing income tax rate reduction (i.e. ‘The Laffer Curve’) as well as a stable dollar (via the Mundell-Laffer hypothesis). Taken together, these two pillars amount to what historian Nathan Lewis refers to as a “magic formula” for economic growth. President Reagan used this playbook to

This Week in Economics: 3 Stories You Should Know About

1.) Reagan economist Arthur Laffer corrects the record on who deserves credit for our economic boom. Last week, I explained why Barack Obama does not deserve credit for Trump’s economic boom. To the contrary, the economic growth President Trump has achieved comes in spite of Obama, as many of the previous administration’s economic policies remain on the books (though President Trump is working diligently to dismantle them brick by brick). This week, Reagan economist Arthur Laffer echoed this sentiment by pointing out that we had “the worst recovery in U.S. history under Barack Obama,” while President Trump has had the