Friday
Sep102010
Another day, another dinner
Friday, September 10, 2010 This is becoming a habit ... I'm at the Guildhall in London for my second black tie dinner in two days. (I hate wearing a dinner jacket and bow tie because they always feel too tight!!)
Tonight's event is the TaxPayers' Alliance Gala Dinner in the Great Hall (above). Guest speaker is Dr Arthur B. Laffer, creator of the 'Laffer Curve' and 'The Father of Supply-Side Economics'.
No, I've never heard of him either but it should be a good evening.
Must go. The champagne starts flowing in approximately five minutes ...
Reader Comments (3)
"Guest speaker is Dr Arthur B. Laffer, creator of the 'Laffer Curve' and 'The Father of Supply-Side Economics'.
No, I've never heard of him either but it should be a good evening."
Really? Next you'll be saying you've never heard of Glen Beck :)
I got an invite for that event too but at £180 a pop was a bit steep. The event is a culmination of week of free market think tanks and lobbiests getting together. I will be catching up with some of them next week and is a not bed of the Austrian School of Economics.
The Laffer Curve if you are curious is about relationship between government revenue raised by taxation and all possible rates of taxation. For example at one end 0% tax rates = £0 tax and 100% tax rates = £0 receipts too. Then you have all the shades of grey in between for revenue maximisation which is a curve.
A good example of the marginal rate of return on taxation are tobaco taxes. Governments have raised taxation and their returns are diminishing proportionately. Laffer would think that taxation is far too high and hence we have the black market.
What West2 said.