There's nothing particularly complicated about the Laffer Curve. In fact, it's so easy to grasp, the man who came up with it in the 1970s, economist Arthur Laffer, first sketched it out on a cocktail napkin.
It may be simple, yet the Laffer Curve has been credited with inspiring Reaganomics the economic policies of American president Ronald Reagan and British prime minister Margaret Thatcher in the 1980s. The theory behind the Laffer Curve goes like this: the higher you set tax rates, the more you will receive in tax revenues until you hit a certain point. Thereafter, tax revenues will dwindle as tax payers lose the will to work harder.
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Albert Einstein's first violin sells for £860,000 at auctionAlbert Einstein left his first violin behind as he escaped Nazi Germany. Last week, it became the most expensive instrument not owned by a concert violinist
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Rob Granieri: the mysterious billionaire boss of Jane StreetProfits at Jane Street have exploded, throwing billionaire Rob Granieri into the limelight. But it’s not just the firm’s success that is prompting scrutiny
