art laffer

I just heard about 30 seconds of his nonsense.
You understand he isn't rich, isn't a respected economist.... Just a chucklehead.

So.. This is his thesis

I own a widget company.
With the economic contraction I have fired people.
With the fed "PRINTING MONEY"*rolls eyes*
and with high unemployment inflation goes up.

there is too much money chasing too few goods. Because I fired people I can't produce enough goods to keep up with demand.... Therefor INFLATION

So.... this is how Art would run a business... with a FULL ORDER BOOK, he would fire people.
Then as the book got backed up, instead of pushing the plant to full capacity, where his cost ratios is highest... Just the usual backwards nonsense... business fires people because there is LESS Demand for goods, If there is less demand for goods. it's not inflationary.