“The basic concept was not new; Laffer himself notes antecedents in the writings of the 14th-century social philosopher Ibn Khaldun and others.”

IMO, it’s says less about economics than it does democracy. You can find many “think tanks” which are paid to create papers in support various ideologies. This doesn’t guarantee what they are saying is incorrect, but it does many they gloss over any inconvenient caveats.