Larry Kudlow Affairs, where he studied politics and economics. He left before completing his master's degree. In 1987, Kudlow was hired by Bear Stearns as its chief economist and senior managing director. Kudlow also served as an economic counsel to A. B. Laffer & Associates, the San Diego, California, company owned by Arthur Laffer, a major supply-side economist and promoter of the "Laffer curve", an economic measure of the relationship between tax levels and government revenue. Kudlow was fired from Bear Stearns in the mid-1990s due to his cocaine addiction. He was a member of the board of directors of Empower America,
Notional Defined Contributions Notional Defined Contributions The term Notional Defined Contributions or Non-financial Defined Contributions or NDC refers to type of public pension system in which contributions made by the public behave in similar way they would in most public funds. This system is implemented in several countries in Europe such as Latvia, Poland, Italy and Sweden. NDC is in many ways similar to classical PAYG pension scheme. Working age individuals contribute to the system and pay for the benefits of current retirees. However, NDCs are different when it comes to determining the size of the benefits. For each individual the amount contributed