Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index [Paperback]

Arthur Laffer (Author), Stephen Moore (Author), Jonathan Williams (Author)

Book Description

Publication Date: March 17, 2009

Authors Arthur Laffer, Stephen Moore and Jonathan Williams provide an in-depth analysis of policies, some of which foster economic growth and prosperity in states like Utah, Arizona and Texas, others of which cause economic malaise in states like California, New York and Michigan.

The 2009 ALEC-Laffer State Economic Competitiveness Index offers two rankings. The first, the Economic Performance Rank, is a historical measure based on a state s performance on three important variables: Personal Income Per Capita, Absolute Domestic Migration, and Non-farm Payroll Employment all of which are highly influenced by state policy. This ranking details states individual performances over the past 10 years based on this economic data.

The second measure, the Economic Outlook Rank, is a forecast based on a state s current standing in 15 state-policy variables. Each of these factors is influenced directly by state lawmakers through the legislative process. Generally speaking, states that spend less especially on income-transfer programs and states that tax less particularly on productive activities such as working or investing experience higher growth rates than states which tax and spend more.

Editorial Reviews

About the Author

Dr. Arthur B. Laffer
Arthur B. Laffer is the founder and chairman of Laffer Associates, an economic research and consulting firm, as well as Laffer Investments, an institutional investment firm. As a result of Dr. Laffer s economic insight and influence in starting a worldwide tax-cutting movement during the 1980s, many publications have named him The Father of Supply-Side Economics. He is a founding member of the Congressional Policy Advisory Board, which assisted in forming legislation for the 105th, 106th and 107th Congresses. Dr. Laffer served as a member of President Reagan s Economic Policy Advisory Board for both terms. In March 1999, he was noted by Time Magazine as one of the Century s Greatest Minds for his invention of the Laffer Curve, which has been called one of a few of the advances that powered this extraordinary century. He has received many awards for his economic research, including two Graham and Dodd Awards from the Financial Analyst Federation. He graduated from Yale with a Bachelor s degree in economics in 1963 and received both his MBA and Ph.D. in economics from Stanford University.

Stephen Moore
Stephen Moore joined The Wall Street Journal as a member of the editorial board and senior economics writer on May 31, 2005. He splits his time between Washington, D.C., and New York, focusing on economic issues including budget, tax and monetary policy. Moore was previously the founder and president of the Club for Growth, which raises money for political candidates who favor free-market economic policies. Over the years, Moore has served as a senior economist at the Congressional Joint Economic Committee, as a budget expert for The Heritage Foundation, and as a senior economics fellow at the Cato Institute, where he published dozens of studies on federal and state fiscal policy. He was also a consultant to the National Economic Commission in 1987 and research director for President Reagan s Commission on Privatization.

Jonathan Williams
Jonathan Williams is the director of the Tax and Fiscal Policy Task Force for the American Legislative Exchange Council (ALEC), where he works with state legislators and the private sector to develop free-market fiscal policy in the states. Prior to joining ALEC, Jonathan served as staff economist at the Tax Foundation, authoring numerous tax policy studies. His work has been featured in many publications including The Wall Street Journal, The Los Angeles Times, Forbes and Investor s Business Daily. Williams is a contributor to The Examiner (Washington, D.C.) and writes a syndicated column for the Flint Hills Center for Public Policy in Wichita, Kan., where he also serves as an adjunct fiscal policy fellow. He is a contributing author to the Reason Foundation s Annual Privatization Report and has written for Tax Analysts, a scholarly journal dedicated to tax issues. Williams has also appeared on numerous television outlets, including FOX Business News. A Mid-Michigan native, Williams graduated magna cum laude from Northwood University in Midland, Mich., majoring in economics, banking/finance, and business management. While at Northwood, he was the recipient of the prestigious Ludwig von Mises Award in Economics.

Product Details

• Paperback: 164 pages
• Publisher: American Legislative Exchange Council; 2 edition (March 17, 2009)
• Language: English
• ISBN-10: 0982231520
• ISBN-13: 978-0982231524
• Product Dimensions: 10 x 6.9 x 0.6 inches
• Shipping Weight: 13.6 ounces
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #867,629 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

10 of 11 people found the following review helpful:

5.0 out of 5 stars Strong Empirical Refutation of Liberal Redistributionsist Policies, June 29, 2009

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A Rationalist (Bay Area, CA USA) - See all my reviews

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This review is from: Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index (Paperback)

This is a current, wonderfully written and argued case against failed liberal tax-and-spend policies. The data and conclusions reached seem fairly irrefutable and intuitively obvious after examination of the underlying data. The book also highlights the liberal paradox: "the poor are left victims of the misguided liberal policies that were enacted to assist them...high taxes don't redistribute income, they redistribute people." As billionaire Tom Golisano noted in a recent WSJ OpEd, raising taxes on the rich in NY "was irresponsible, since the top 1% of earners account for about half of state revenue.....We're the ones who can -- and will -- leave." In fact he did leave, for Florida where there is no income tax and one of the authors of this book, Arthur Laffer, also "voted with his feet" and left California for similar reasons. The authors do an excellent job of illustrating their points in an entertaining and engaging manner: ex. "Robin Hood had a progressive stealing structure. You recognize the model, don't you? Doesn't it sound like the California government?...how long would it take you to learn not to go through the forest?" This is a great read for anyone with an interest in liberal vs. supply-side tax policy implications. It is especially relevant for anyone living in California who wonders why the "Golden State" is a perpetual budgetary train wreck despite having so many other positive natural attributes that would serve as a growth magnet in the absence of "liberalism run amok in Sacramento."