Arduin, Laffer & Moore Econometrics
Encyclopedia
Arduin, Laffer & Moore Econometrics (ALME) is a conservative-leaning economic consulting firm led by Donna Arduin, Dr. Arthur Laffer
, and Stephen Moore. Their experience includes public policy
, economics
, and corporate planners.http://www.arduinlaffermoore.com/About.asp
Governor Arnold Schwarzenegger
's Director of Finance from November 2003 until October 2004, where she was the Governor's chief fiscal advisor and was a member of over 70 boards and authorities. Prior to her appointment as Director, Schwarzenegger asked Arduin to undertake an outside, independent audit of California government and state finances. Prior to working for Governor Schwarzenegger, Arduin served governors from three additional states, including Florida
, New York
, and Michigan
. Arduin was Governor Jeb Bush
's Director of the Florida Office of Policy and Budget for five years, where she managed the formulation of the governor’s policy and fiscal recommendations, created the nation's first interactive "e-budget", and implemented performance-based budgeting
and long-range planning. A graduate of Duke University
, Arduin graduated magna cum laude with honors in economics and public policy. She worked as an analyst in New York and Tokyo
in the private financial markets for Morgan Stanley
and Long-Term Credit Bank of Japan
.
economist
who became influential during the Reagan
administration as a member of Reagan's Economic Policy Advisory Board (1981-1989). Laffer is best known for the Laffer curve
, a curve illustrating tax elasticity which asserts that in certain situations, a decrease in tax rates could result in an increase in tax revenues. Although he does not claim to have invented this concept (Laffer, 2004), it was popularized with policy-makers following an afternoon meeting with Dick Cheney
in which he reportedly sketched the curve on a napkin to illustrate his argument (Wanninski, 2005). Laffer received a BA
in economics from Yale University
in 1963. He graduated from Stanford University
with an MBA in 1965 and a PhD
in economics in 1971. He has six children. His followers include Lawrence Kudlow
, the co-host of Kudlow & Co. on CNBC
; and Donald Luskin
, author of the blog
The Conspiracy to Keep You Poor and Stupid.
from 1999 to 2004. He is currently a member of the Wall Street Journal editorial board and frequently opines on the pages of their Op-Ed
section. He is also a contributing editor for National Review
. He holds a B.A. from the University of Illinois
and an M.A. from George Mason University
in economics
. Moore usually advocates views in favor of free-market policies and supply-side economics
such as those promoted by the Free Enterprise Fund, which he founded. From 1983 through 1987, Moore served as the Grover M. Hermann Fellow in Budgetary Affairs at the Heritage Foundation
. Moore also was a fellow of the Cato Institute
, a libertarian think tank
. Moore was the senior economist of the U.S. Congress Joint Economic Committee under Chairman Dick Armey
of Texas
. There, he was also an architect of the Armey flat tax
proposal in 1995. The Armey Flat Tax still serves as a model for ideal flat tax legislation. He was also part of the research team hired by Americans For Fair Taxation
to create the FairTax
, the most cosponsored tax reform proposal in Congress.
Arthur Laffer
Arthur Betz Laffer is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board . Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will...
, and Stephen Moore. Their experience includes public policy
Public policy
Public policy as government action is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs. In general, the foundation is the pertinent national and...
, economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, and corporate planners.http://www.arduinlaffermoore.com/About.asp
Donna Arduin
Donna Arduin served as CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
Governor Arnold Schwarzenegger
Arnold Schwarzenegger
Arnold Alois Schwarzenegger is an Austrian-American former professional bodybuilder, actor, businessman, investor, and politician. Schwarzenegger served as the 38th Governor of California from 2003 until 2011....
's Director of Finance from November 2003 until October 2004, where she was the Governor's chief fiscal advisor and was a member of over 70 boards and authorities. Prior to her appointment as Director, Schwarzenegger asked Arduin to undertake an outside, independent audit of California government and state finances. Prior to working for Governor Schwarzenegger, Arduin served governors from three additional states, including Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, and Michigan
Michigan
Michigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
. Arduin was Governor Jeb Bush
Jeb Bush
John Ellis "Jeb" Bush is an American politician who served as the 43rd Governor of Florida from 1999 to 2007. He is a prominent member of the Bush family: the second son of former President George H. W. Bush and former First Lady Barbara Bush; the younger brother of former President George W...
's Director of the Florida Office of Policy and Budget for five years, where she managed the formulation of the governor’s policy and fiscal recommendations, created the nation's first interactive "e-budget", and implemented performance-based budgeting
Performance Based Budgeting
Adopting public sector’s performance-based budgeting to the private sector using the CPM framework. In performance-based budgeting first the goals and objectives of organization or department are identified, then measurement tools are developed and the last step is reporting.-Introduction:Today,...
and long-range planning. A graduate of Duke University
Duke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
, Arduin graduated magna cum laude with honors in economics and public policy. She worked as an analyst in New York and Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
in the private financial markets for Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
and Long-Term Credit Bank of Japan
Long-Term Credit Bank of Japan
, abbreviated LTCB in English and in Japanese, was founded in 1952 under the direction of the Shigeru Yoshida government to provide long-term financing to various industries in Japan. Along with the Industrial Bank of Japan and the Nippon Kangyo Bank, it was one of the major financiers of the...
.
Arthur Laffer
Arthur Laffer is a supply sideSupply-side economics
Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively created by lowering barriers for people to produce goods and services, such as lowering income tax and capital gains tax rates, and by allowing greater flexibility by reducing...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
who became influential during the Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
administration as a member of Reagan's Economic Policy Advisory Board (1981-1989). Laffer is best known for the Laffer curve
Laffer curve
In economics, the Laffer curve is a theoretical representation of the relationship between government revenue raised by taxation and all possible rates of taxation. It is used to illustrate the concept of taxable income elasticity . The curve is constructed by thought experiment...
, a curve illustrating tax elasticity which asserts that in certain situations, a decrease in tax rates could result in an increase in tax revenues. Although he does not claim to have invented this concept (Laffer, 2004), it was popularized with policy-makers following an afternoon meeting with Dick Cheney
Dick Cheney
Richard Bruce "Dick" Cheney served as the 46th Vice President of the United States , under George W. Bush....
in which he reportedly sketched the curve on a napkin to illustrate his argument (Wanninski, 2005). Laffer received a BA
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in economics from Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
in 1963. He graduated from Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
with an MBA in 1965 and a PhD
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in economics in 1971. He has six children. His followers include Lawrence Kudlow
Lawrence Kudlow
Lawrence "Larry" Kudlow is an American economist, television personality, and newspaper columnist. He is the host of CNBC's The Kudlow Report. As a syndicated columnist, his articles appear in numerous U.S. newspapers and web sites, including his own blog, Kudlow's Money Politic$.-Early...
, the co-host of Kudlow & Co. on CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
; and Donald Luskin
Donald Luskin
Donald Luskin is Chief Investment Officer for Trend Macrolytics LLC, a consulting firm providing investment strategy and macroeconomics forecasting and research for institutional investors....
, author of the blog
Blog
A blog is a type of website or part of a website supposed to be updated with new content from time to time. Blogs are usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video. Entries are commonly displayed in...
The Conspiracy to Keep You Poor and Stupid.
Stephen Moore
Stephen Moore is an economist and policy analyst who founded and served as president of the Club for GrowthClub for Growth
The Club for Growth is a politically conservative 527 organization active in the United States of America, with an agenda focussed on taxation and other economic issues, and with an affiliated political action committee . The Club advocates lower taxes, limited government, less government spending,...
from 1999 to 2004. He is currently a member of the Wall Street Journal editorial board and frequently opines on the pages of their Op-Ed
Op-ed
An op-ed, abbreviated from opposite the editorial page , is a newspaper article that expresses the opinions of a named writer who is usually unaffiliated with the newspaper's editorial board...
section. He is also a contributing editor for National Review
National Review
National Review is a biweekly magazine founded by the late author William F. Buckley, Jr., in 1955 and based in New York City. It describes itself as "America's most widely read and influential magazine and web site for conservative news, commentary, and opinion."Although the print version of the...
. He holds a B.A. from the University of Illinois
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana–Champaign is a large public research-intensive university in the state of Illinois, United States. It is the flagship campus of the University of Illinois system...
and an M.A. from George Mason University
George Mason University
George Mason University is a public university based in unincorporated Fairfax County, Virginia, United States, south of and adjacent to the city of Fairfax. Additional campuses are located nearby in Arlington County, Prince William County, and Loudoun County...
in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. Moore usually advocates views in favor of free-market policies and supply-side economics
Supply-side economics
Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively created by lowering barriers for people to produce goods and services, such as lowering income tax and capital gains tax rates, and by allowing greater flexibility by reducing...
such as those promoted by the Free Enterprise Fund, which he founded. From 1983 through 1987, Moore served as the Grover M. Hermann Fellow in Budgetary Affairs at the Heritage Foundation
Heritage Foundation
The Heritage Foundation is a conservative American think tank based in Washington, D.C. Heritage's stated mission is to "formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong...
. Moore also was a fellow of the Cato Institute
Cato Institute
The Cato Institute is a libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Edward H. Crane, who remains president and CEO, and Charles Koch, chairman of the board and chief executive officer of the conglomerate Koch Industries, Inc., the largest privately held...
, a libertarian think tank
Think tank
A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...
. Moore was the senior economist of the U.S. Congress Joint Economic Committee under Chairman Dick Armey
Dick Armey
Richard Keith "Dick" Armey is a former U.S. Representative from Texas's and House Majority Leader . He was one of the engineers of the "Republican Revolution" of the 1990s, in which Republicans were elected to majorities of both houses of Congress for the first time in four decades. Armey was...
of Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
. There, he was also an architect of the Armey flat tax
Flat tax
A flat tax is a tax system with a constant marginal tax rate. Typically the term flat tax is applied in the context of an individual or corporate income that will be taxed at one marginal rate...
proposal in 1995. The Armey Flat Tax still serves as a model for ideal flat tax legislation. He was also part of the research team hired by Americans For Fair Taxation
Americans For Fair Taxation
Americans For Fair Taxation , also known as FairTax.org, states it is the United States' largest, single-issue grassroots organization and taxpayers union dedicated to fundamental tax code replacement...
to create the FairTax
FairTax
The FairTax is a tax reform proposal for the federal government of the United States that would replace all federal taxes on personal and corporate income with a single broad national consumption tax on retail sales. The Fair Tax Act would apply a tax once at the point of purchase on all new goods...
, the most cosponsored tax reform proposal in Congress.