Arthur Laffer: cuts succeeded where stimulus failed” The Spectator (26 October 2013)
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The notion of a Keynesian spending multiplier is right out of an Aesop fable. And who ever heard of a poor person spending himself into prosperity? No one!
— Arthur Laffer
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The notion of a Keynesian spending multiplier is right out of an Aesop fable. And who ever heard of a poor person spending himself into prosperity? No one!" in the context of "Arthur Laffer: cuts succeeded where stimulus failed” The Spectator (26 October 2013)" to mean that wisdom is timeless.
Source: Wikiquote: "Arthur Laffer" (, Quotes 2013)
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About Arthur Laffer
Arthur Betz Laffer (born August 14, 1940) is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund.
About Arthur Laffer
Arthur Betz Laffer (born August 14, 1940) is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund.
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