Definition

Proper noun: * Arthur Laffer: An American economist, born in 1940, who is most famous for proposing the Laffer curve, a theoretical model illustrating the relationship between tax rates and government tax revenue.

Usage

• Arthur Laffer is used as a proper noun to refer specifically to the individual economist. It is typically used in discussions of economic policy, taxation, and supply-side economics.
  • The tax cuts were influenced by the theories of Arthur Laffer.
  • Arthur Laffer argued that excessively high tax rates could reduce total tax collection.

Advanced Usage

• The name Arthur Laffer is almost exclusively associated with the Laffer curve. Mentioning him inherently references this economic concept and the school of thought (supply-side economics) it supports.
  • The debate centered on the validity of the Arthur Laffer hypothesis.

Variants and Related Words

• Laffer curve (noun): The specific economic model for which Arthur Laffer is known. It is a separate term.
  • Politicians often reference the Laffer curve when discussing tax policy.

Synonyms

• Economist: A general term for a professional in the field of economics.
• Supply-side economist: A more specific term describing an economist who advocates for policies focused on stimulating production and supply, a school with which Laffer is closely associated.

Related Phrases

• Supply-side economics: The economic theory most associated with Arthur Laffer's work.
  • Arthur Laffer is a prominent figure in supply-side economics.

Noun

1. United States economist who proposed the Laffer curve (born in 1940)