ECON 101 with Dr. Art Laffer

Happy Birthday to Dr. Art Laffer, the father of supply-side economics! Take a couple of minutes to brush up on your free market knowledge with a crash course from Dr. Laffer.

---

Watch more #onlyatYAF videos every day! Click now to connect with us on

[Oswaldx]

I'm not sure why so many people struggle with this simple concept.

[revenueguru]

Awesome. Absolutely clear as a bell, and I love the tone.

[nathanngumi]

Word. Whenever there is a redistribution of income, the total income decreases, because those from whom it taken have less incentive to produce, and those who receive it have equally less incentive to produce. The more the redistribution, the steeper the decrease.

[georges]

The many will always want to take from the few. That is the Democrats’s view of democracy.

In Norway you get paid not to work, I work, and I'm getting tired of the ideology of working for another's safety. If I was an ass, I'd join the sheeples, but no, I'll work til I die, eventhough I'll be a slave for anothers well being.

[kerriwilson]

I get his point, & generally agree that income is incentive.
I disagree that income is always reduced by redistribution. In my household if I give my teen $ to buy a car... I've reduced my wealth, but increased his capacity to earn (he can drive to work). I have enabled my household's income expansion. Similarly, on a national level spending tax money on education, policing, transportation, healthcare, etc frees the citizens to participate in the economy & create wealth. Win - win. 🍁

[SB-cpre]

Yes I agree. So simple a concept Not sure how people don’t get it or just don’t want to get it ...

[davidking]

I was not happy with Laffer after watching him laugh at Peter Schiff when he predicted the Real Estate bubble burst. After watching this he has redeemed himself. It all makes sense to me.

[TheLoscla]

Government can print all the money they like, but that paper means nothing if the workers don't make it worth something.

[simpletruth]

Did AOC not get this at Harvard? It’s so simple.

[manwesulimo]

Purchasing power creates jobs. Id pay to see him debate a robert reich or ole prof wolff. We do better as a country when more people do better. Whoever thinks voodoo economics is healthy after 40 years of barely a rise in median income ( accounted for by inflation) with astronomical growth in corporate profit needs to open their mind and eyes.

[FuriousAuto]

Is this the twilight zone? I stepped into the film set of idiocracy.

[manwesulimo]

A wealth tax would definitely make the wealthy man no longer rich. 😂 wtf