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Forum nameGeneral Discussion
Topic subjectI saw Art Laffer interviewed on TV a few days ago.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13330258&mesg_id=13330742
13330742, I saw Art Laffer interviewed on TV a few days ago.
Posted by stravinskian, Mon May-06-19 11:45 AM
Wanted to slap the shit-eating grin off his face.

He was saying "It's so great to have such a full and clear vindication on all these things I've been arguing for fifty years!"

Frederica Whitfield followed up with some lame thing like "Yeah, but a lot of people are still struggling," which was a dumb red herring when people said it over seven years of the Obama recovery, so I can't bring myself to cheer for it as an argument now.

She didn't think to bring up the story of Kansas, which Laffer was behind 100%, and which really DID involve the dramatic economic changes that the supply siders are calling for, and which ended in a fucking calamity.

The fact that a massive unaffordable tax cut will speed up the standard economic indicators (even if just by a little bit) is hardly a supply-side argument. It seems like textbook Keynesian economics. (PTGC is the expert on this stuff around here, of course, so I'd defer to his view.)

And as for deregulation, of course that would help the economy. Regulations aren't meant to help the economy, they're literally meant to rein it in and keep companies from putting their interests ahead of the public good. Of course letting companies set their own rules will be good for the economy. The question is the long-term non-economic cost.

I kinda hope Trump's dumb attempt to take credit for all this helps undermine the naive belief that the President deserves credit or blame for "the economy." Apart from emergency measures, the economy is a lot bigger than politics.