Attention economic policy nerds! Today’s Globe and Mail contains a letter to the editor from yours truly, in which I critique a theoretical model known as the Laffer curve. To read it, please click on this link and scroll down, or find the text of my letter below:

A laughable economic model

Re “California learns about the Laffer curve” (Report on Business, Jan. 20): At best, the Laffer curve is a theoretically sound notion with only limited real-world applicability. At worst, it is fundamentally flawed even at a theoretical level.

Governments around the world have used this economic model to claim they can cut taxes while at the same time increasing revenue. Unsurprisingly, this almost always fails.

No more magical thinking, please. In matters of public policy, let common sense reign.

David Taub Bancroft Vancouver