Economist Laffer backs Black for governor

News release from Diane Black campaign

NASHVILLE – Conservative economist and close Reagan advisor Arthur Laffer today endorsed Diane Black for Governor and will serve as Economic Advisor to Diane Black for Governor.  Dr. Laffer was a personal economic advisor to both President Reagan and Prime Minister Thatcher, serving on the President’s Economic Policy Advisory Board for both of President Reagan’s two terms in office.

“Diane Black knows exactly how to keep Tennessee’s economy growing rapidly by ensuring that Tennessee keeps tax rates low while paying its bills and protecting its taxpayers,” said Dr. Laffer.  “I moved from California to Tennessee eleven years ago for these very reasons, and I couldn’t be happier with my adopted home state.  There’s no one more qualified and prepared to lead Tennessee into a new era of prosperity than Diane Black.”

Dr. Laffer’s economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980’s earned him the distinction in many publications as “The Father of Supply-Side Economics.” The New York Times wrote, “we do know from official economic statistics that the seven-year period from 1982 to 1989 was the greatest, consistent burst of economic activity ever seen in the U.S. In fact, it was the greatest economic expansion the world has ever seen – in any country, at any time.”

“Art Laffer has the greatest fiscal policy track record of the last 40 years,” said Black.  “I am honored to have his endorsement and look forward to working with him to put conservative economic principles to work in Tennessee.  My team will focus on bringing jobs, low taxes and prosperity to every corner of Tennessee.”

Laffer is the founder and chairman of Laffer Associates, an institutional economic research and consulting firm in Nashville.  One of his earliest successes in shaping public policy was his involvement in California’s Proposition 13, the groundbreaking initiative that drastically cut property taxes in California in 1978.

Dr. Laffer received a B.A. in economics from Yale University in 1963.  He received a MBA and a Ph.D. in economics from Stanford University in 1965 and 1972, respectively.  He has served on the faculty of the University of Chicago, University of Southern California and Pepperdine University.

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Former Knoxville News Sentinel capitol bureau chief Tom Humphrey writes about Tennessee politics, government, and legislative news.
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