One argument surrounding it concerns whether or not people would continue to work if they would receive no net income, and it served as a central tenet of economic policy during the Reagan administration.
Its namesake gave credit for it to Ibn Khaldun and John Maynard Keynes, and Martin Garder developed a "neo" version that show chaos everywhere except at the minima. Publicized in Jude Wanniski's book The Way the World Works, it is an application of the law of diminishing returns and the upper portion of it is known as the "prohibitive range". One argument surrounding it concerns whether or not people would continue to work if they would receive no net income, and it served as a central tenet of economic policy during the Reagan administration. Originally drawn on a cocktail napkin, FTP, identify this curve that shows how the tax rate affects how much tax revenue is collected.
Its namesake gave credit for it to Ibn Khaldun and John Maynard Keynes, and Martin Garder developed a "neo" version that show chaos everywhere except at the minima.
{Laffer} curve