But it was countered brilliantly by Richard Rahn, executive director of the American Council for Capital Formation.
To elaborate, this video discusses the Rahn Curve, which augments the data in the World Bank study.
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Richard W. Rahn is a Senior Fellow at the Cato Institute and Chairman of the Institute for Global Economic Growth.
For all intents and purposes, all this research shows that developed nations are on the downward-sloping portion of the Rahn Curve.
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Taavi Rahn headed an own goal from 20 yards just before half-time but England failed to score in the second half.
But what we can be sure of is that the peak of the Rahn Curve is much closer to zero than to where we are now.
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"It may be that the Finra rules will pre-empt the state ban, but that's not been tested, " said Scott Rahn, a lawyer at Greenberg Traurig LLP.
Named after my Cato colleague Richard Rahn and explained in the video below, the Rahn Curve is sort of a spending version of the Laffer Curve.
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And once we educate everybody about the Laffer Curve, we can then concentrate on teaching them about the equivalent relationship on the spending side of the fiscal ledger, the Rahn Curve.
There was considerably more Estonian involvement in England's third goal a minute later when Rahn spectacularly headed past his own keeper from outside the penalty area as he tried to cut out Ashley Cole's cross.
Government expenditures are not the only variable, so even if we had more examples of small government, we would still not be able to specify an optimal size of government expenditures, where the Rahn Curve peaks.
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The original theory underlying the Rahn Curve assumed that as the size of government increased from zero, supplying law and order and some basic services, economic growth rates would increase until government reached some optimal size.
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The director of the Missouri Department of Transportation, Pete Rahn, told CNN that he and Slay had held "many" conversations in the past year and both are now more or less seeing eye to eye.
Those who need the assurance of statistical studies would be better served by the Rahn Curve (named after economist Richard Rahn), which shows a long-term negative relationship between the size of government expenditures as a percentage of GDP and economic growth rates.
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This Greek debt drama has profound lessons for the U.S. whose debt to GDP ratio is expected to reach 90% by 2012 according to Richard W. Rahn, a senior fellow at Cato Institute and Chairman of the institute for Global Economic Growth.
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