Arthur Laffer: Bring the Pain

by Benjamin Domenech on 7:44 am June 11, 2009

The Seventies are back: “As bad as the fiscal picture is, panic-driven monetary policies portend to have even more dire consequences. We can expect rapidly rising prices and much, much higher interest rates over the next four or five years, and a concomitant deleterious impact on output and employment not unlike the late 1970s.”

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