Arthur Laffer

Arthur Betz Laffer (pronounced /ˈlæfər/;[1] born August 14, 1940) is an American supply-side economist who became influential during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–1989). Laffer is also known for the Laffer curve, an illustration of tax elasticity which asserts that, in certain situations, a decrease in tax rates could result in an increase in tax revenues.