"Let me just try to give you sort of the intuitive one here on the stimulus funds. If you have a two-person economy - let's imagine we have two farms, and that's the whole world, just two farms. If one of those farmers gets unemployment benefits, who do you think pays for him? Am I going way over your heads today?"
- Arthur Laffer
About this Quote
This quote by Arthur Laffer is referring to the idea of stimulus funds. He is utilizing a two-person economy as an example to explain the concept. He is recommending that if one of the two farmers gets unemployment benefits, the other farmer is the one who pays for it. He is trying to discuss the idea in a manner that is simple to understand and intuitive. He is also asking if he is reviewing the listener's heads, recommending that the idea might be tough to understand. This quote is a terrific example of how Laffer has the ability to discuss intricate financial principles in such a way that is simple to comprehend.
This quote is written / told by Arthur Laffer somewhere between August 14, 1940 and today. He was a famous Economist from USA.
The author also have 21 other quotes.
"What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money"
"I have just explained my idea of how a constructive period of reflection, one that would send a clear message to the citizens of Europe: You should now what our priorities are. For Germany this means: Unemployment is one of one of our biggest problems"
"Really, the potential for, first of all, any college graduate today is enormously good. These are good times for anyone with a college degree today, particularly African Americans. With a college degree today, you really breach the unemployment rate"
"The internal conditions in Iran are worsening in all aspects. Poverty and unemployment are becoming more severe, despite the fact that Iran has turned into a developed and industrialized country"
"We are a people trying not only to solve the problems of the present: unemployment, inflation... but we are attempting on a larger scale to fulfill the promise of America"
