Monday, October 27, 2008

Laffer: "The Age of Prosperity Is Over"

Talking heads on CNBC were discussing this on Monday. I hope he's wrong, but I would hate to bet against him. In the WSJ:

Twenty-five years down the line, what this administration and Congress have done will be viewed in much the same light as what Herbert Hoover did in the years 1929 through 1932.
That's Laffer as in "Laffer curve."

Cited in discussion at Jerry Pournelle's place.

Update: Speaking of Hoover, he was only in till March '33. It took FDR to keep the Depression going. FDR's policies prolonged Depression by 7 years, UCLA economists calculate.

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