Laffer curve New Palgrave Dictionary of Economics reports that a comparison of academic studies yields a range of revenue maximizing rates that centers around 70%. In the early 1980s, Edgar L. Feige and Robert T. McGee developed a macroeconomic model from which they derived a Laffer Curve. According to the model, the shape and position of the Laffer Curve depend upon the strength of supply side effects, the progressivity of the tax system and the size of the unobserved economy. Economist Paul Pecorino presented a model in 1995 that predicted the peak of the Laffer curve occurred at tax rates around 65%.
To each according to his contribution to his needs". Lenin wrote "The State and Revolution" to answer all the burning questions of the movement, and to prevent Marxism from becoming tainted by "opportunists" and "reformists", as he called them. The work is very important as it categorizes the "first phase of communist society" as socialism, with the higher phase being communism proper. The pamphlet also answers all questions and concerns of the Marxists of his time by utilizing the classic works of Marxism. When he is set to describe socialism and its economic features he turns to the authority of Marx, especially the "Critique of the