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“He rejected with scorn as crude, novel and unproven the notion associated with the US economist Art Laffer that marginal tax cuts could yield substantially higher tax revenues and that they had a crucial role in accelerating economic growth.8 And he also favoured according a role to the exchange rate that orthodox monetarists would not.”
― Not for Turning: The Life of Margaret Thatcher
― Not for Turning: The Life of Margaret Thatcher
