Arthur Laffer Biography: Wife, Age, Education, Net Worth, Children, Parents, Height, Wiki
Biography
Arthur Betz Laffer (born August 14, 1940) is a prominent American economist widely recognized as the “Father of Supply-Side Economics.”
He is best known for the Laffer Curve, a theoretical illustration showing that tax rates above a certain point can reduce government revenue by discouraging economic activity.
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A graduate of Yale University (BA, 1963) and Stanford University (MBA and PhD), Laffer advised presidents, serving as a member of President Ronald Reagan‘s Economic Policy Advisory Board (1981–1989) and as an economic advisor to Donald Trump‘s 2016 campaign.
In 2019, he received the Presidential Medal of Freedom. He founded Laffer Associates, an economic research and consulting firm, and has authored numerous books on taxation and economic policy.
| American economist | |
| Arthur Laffer | |
|---|---|
 | |
| Wiki Facts & About Data | |
| Real Name: | Arthur Betz Laffer |
| Stage Name: | Arthur Laffer |
| Born: | 14 August 1940 (age 85 years old) |
| Place of Birth: | Youngstown, Ohio, United States |
| Nationality: | American |
| Education: | University School, Yale University, Stanford University |
| Height: | 1.61 m |
| Parents: | William Gillespie Laffer, Marian Amelia Laffer |
| Siblings: | N/A |
| Spouse: | Traci Lynn Hickman (m. 1982) |
| Girlfriend • Partner: | Not Dating |
| Children: | Justin Laffer, Arthur Laffer Jr., Rachel Laffer, Patricia Laffer, Allison Laffer, Molly Laffer Rembert |
| Occupation: | Businessman • Economist |
| Net Worth: | $75 million (USD) |
Early Life & Education
Arthur Betz Laffer was born on August 14, 1940, in Youngstown, Ohio, USA. He grew up primarily in the affluent Cleveland suburb of Shaker Heights after his family relocated there shortly after his birth.
His father, William Gillespie Laffer, was a prominent business executive who served as president of the Clevite Corporation (later involved with Gould Inc., where he became chairman). His mother, Marian Amelia “Molly” Laffer (née Betz), was a homemaker and local politician.
Laffer was raised in a prosperous household influenced by his father’s career in manufacturing and industry during the post-World War II economic boom. No publicly available biographical sources mention any siblings, suggesting he may have been an only child.
Laffer is a Presbyterian by religion. Given his family names and Midwestern American roots, he is generally considered of European-American descent.
For education, he attended private schools in the Cleveland area and graduated from University School (a prestigious independent boys’ school in Shaker Heights) in 1958.
He then earned a Bachelor of Arts in economics from Yale University in 1963, followed by an MBA (1965) and a PhD in economics (1972) from Stanford University.
Career
Arthur Laffer’s influential career spans academia, government service, consulting, and decades of impact on economic policy—earning him the nickname “Father of Supply-Side Economics.”
After completing his PhD at Stanford in 1972, he began teaching at the University of Chicago, where he served on the faculty from 1967 and became an associate professor of business economics from 1970 to 1976.
He then joined the University of Southern California as the Charles B. Thornton Professor of Business Economics from 1976 to 1984 and later held distinguished roles at Pepperdine University and Mercer University.
Laffer entered public service in the early 1970s as the first chief economist at the Office of Management and Budget during the Nixon administration. He advised senior officials, including Treasury Secretaries William Simon and George Shultz, and Secretary of Defense Donald Rumsfeld.
During this period, he developed his most famous contribution—the Laffer Curve, a framework illustrating how excessively high tax rates can reduce overall tax revenue by discouraging economic activity.
His ideas gained national traction in the late 1970s, influencing California’s Proposition 13 property tax cuts in 1978. Laffer became a key economic advisor to Ronald Reagan’s presidential campaigns and served on President Reagan’s Economic Policy Advisory Board for both terms (1981–1989), helping shape the administration’s signature supply-side tax policies. He also advised Margaret Thatcher’s government on fiscal strategy.
In 1979, Laffer founded Laffer Associates, a Nashville-based economic research and consulting firm where he continues to serve as chairman. The firm provides investment insights and policy analysis to governments and major institutions. Over the years, he has sat on numerous corporate boards and co-authored the widely cited “Rich States, Poor States” report evaluating state economic competitiveness.
In later years, Laffer advised Donald Trump’s 2016 presidential campaign. In 2019, he received the Presidential Medal of Freedom from President Trump in recognition of his contributions to economic theory and public policy.
A prolific author of more than 20 books—including bestsellers such as An Inquiry into the Nature and Causes of the Wealth of States and Taxes Have Consequences—Laffer remains one of the most prominent advocates of supply-side economics.
Personal Life
Arthur Laffer is 85 years old, having been born on August 14, 1940.
He has been married twice. His first marriage (name of spouse not publicly detailed in sources) ended in divorce around 1979, partly due to his extensive travel schedule.
In 1982, he married his second wife, Traci Lynn Hickman (often referred to as Traci Laffer), whom he met while she was a political science student at USC; they bonded over a shared interest in exotic birds. They remain married.
Laffer has six children in total: four from his first marriage and two with Traci. Known names include Justin Laffer, Arthur Laffer Jr., Rachel Laffer, Patricia Laffer, Allison Laffer, and Molly Laffer Rembert (mentioned during his 2019 Medal of Freedom ceremony).
His height is 1.61 m.
Net Worth
Arthur Laffer‘s net worth is estimated at around $75 million.
This figure reflects his long career earnings from Laffer Associates, corporate board positions (including significant stock holdings in companies like MasTec Inc.), investment management through Laffer Investments, book royalties, speaking engagements, and economic consulting.
His wealth has grown substantially from professional accomplishments in academia, policy advising, and the private sector.
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