Who is a fan of Arthur Laffer?

Based upon much recent armchair quarterbacking in the forums about the SL economy, I'm curious who says they are a fan of this guy, and who says otherwise.

Particularly in light of everyone's history of commentary over the past months.


This is a poll, but I'll skip the poll function and make it comments only.

http://en.wikipedia.org/wiki/Laffer_curve

I am certainly NOT a fan of Laffer and his famous curve (I have to admit that this curve and the theory behind it is all I know of Laffers works). It is a very simplistic model for a very complicated system (a national economy influenced by other economies in the world). It is no wonder, that the most famous fan of it was Ronald Reagan, a man who certainly had a lot of fans but is not exactly regarded as an intellectual giant even by those fans.

The theory might have a few merits. It certainly is true at the extreme left and right of the X-axis. But between those points the situation is much more complex and the big question (where is the peak) can not be answered easily. Reagan and his advisors obviously did believe, that the US economy already was to the right side of the peak. I doubt if the economic data about the latter days of the Reagan administration supports this assumption.

Eeeehmm ... Why you're asking?

...that was exactly why I was asking.

I'm curious to see how simplistically (or otherwise) people view the economic activity here.



Imagine the Second Life economy controllable by a set of levers (or in a more modern sense, maybe a java app).

VERY oversimplified, an economic watchdog might have functions such as:
--------------------------------------------------------------------------------------------
Basic Membership Price (+) (-)
Basic Stipend (+) (-)

Premium Membership Price (+) (-)
Premium Stipend (+) (-)

Sell $L (x, rate)
Buy $L (y, rate)

Sell Land (x)
Buy Land (y)

$L Sink Textures&c (x)
$L Sink Ads (x)
$L Sink Groups (x)


I'm curious how various people's philosophies would be applied to a complex set of levers like these.

I suspect a LOT of people didn't expect the effect that limit buys had (insofar as a lot of people probably never used LindeX in Advanced Mode, and probably got far less USD or $L than they could have).