Economic Insights with Dr. Arthur Laffer

College of Business Owls glided into the Schmidt Family Complex for a fireside chat with presidential economist Dr. Arthur Laffer. Known as the “Father of Supply-side Economics,” Dr. Laffer is a respected voice in public policy discussions. Over his decorated career, he has served as a member of President Reagan’s Economic Policy Advisory Board and as an advisor to British Prime Minister Margaret Thatcher on fiscal policy.

Dr. Laffer is perhaps best known for the “Laffer Curve” that shows the tradeoff between higher tax rates and tax revenues. Florida Atlantic economics students were enthused to meet the economist behind the curve they have heard so much about during their principles of macroeconomics lectures.

Department of Economics Chairwoman Monica Escaleras, Ph.D. also welcomed Dr. Laffer to speak to her principles of macroeconomics class, where he discussed numerous topics. Fresh off the heels of the presidential election, a common theme was how to use economic principles to make optimal policy choices at the federal level.

“Dr. Laffer embodies the principles we strive to instill in our economics students. Economics is all about making optimized decisions in the face of tradeoffs and incentives," Escaleras said. His classroom discussion focused on debunking common myths regarding tax policy in the United States. Students also had the opportunity to solicit Dr. Laffer’s advice for young entrepreneurs aiming to jump-start their careers. Dr. Laffer’s visit follows recent campus events organized by the Phil Smith Center for Free Enterprise that welcomed Argentinian economist Nicolas Cachanosky (October) and Former Iowa Governor Terry Branstad (September) who was also awarded with the Dean's Distinguished Award for Entrepreneurial Leadership.

Dr. Laffer’s visit was co-sponsored by the Phil Smith Center for Free Enterprise and Young America’s Foundation. Named in recognition of native of South Florida and leading Broward County businessman Phil Smith, the Phil Smith Center aims to promote the principles of free enterprise and the doors that it opens to all who are willing to work hard and pursue their dreams. The Young Americas Foundation is a national youth organization whose mission is to ensure the promotion of free enterprise, individual freedom, and a strong national defense.

The Economics Department is excited to welcome more economics-focused speakers in the future. In partnership with the Phil Smith Center, the Economics Department offers reading groups to allow students to gain insight into economic thinking in addition to student excursions. Students interested in joining an Economics Reading Group in the Spring, please contact Andrew Garrison (agarrison2018@fau.edu).

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