History of economic thought voting procedures; he developed the theory with Eric Maskin (1950–) and Roger Myerson (1951–), sharing the 2007 Nobel Economics Prize with them. In 1974 American economist Arthur Laffer formulated the Laffer Curve, which postulates that no tax revenue will be raised at the extreme tax rates of 0% and 100%, and that there must be at least one rate where tax revenue would be a non-zero maximum. This concept was adopted by U.S. President Ronald Reagan in the early 1980s, becoming the cornerstone of Reaganomics, which was co-founded by American economist Paul Craig Roberts. In 1986 French economist Jean Tirole
Eponymous archon was responsible for the civic religious arrangements. After 508 BC the offices were held for only a single year, and the year was named after the archon eponymous. The year ran from July to June. The archon eponymous was the chief archon, and presided over meetings of the Boule and Ecclesia, the ancient Athenian assemblies. The archon eponymous remained the titular head of state even under the democracy, though with much reduced political importance. Under the reforms of Solon, himself archon eponymous in 594 BC, there was a brief period when the number of archons rose to ten. After 457