Arthur Laffer While he was teaching at the USC Marshall School of Business, Laffer played a key role in writing California Proposition 13, the property-tax-cap initiative that inspired a tax revolt across the nation. In the mid-1980s, Laffer left to teach at Pepperdine University in nearby Malibu. Laffer remained on the faculty for several years. In 1986, Laffer was a candidate for the Republican nomination for the U.S. Senate—which he lost in the California primary to U.S. Congressman Ed Zschau who lost in the general election to the incumbent, Democrat Alan Cranston. Laffer identifies himself as a staunch fiscal conservative and libertarian.
To each according to his contribution products for an equal amount of labor". Joseph Stalin and Leon Trotsky both mentioned the term in their works. To each according to his contribution "To each according to his contribution" is a principle of distribution considered to be one of the defining features of socialism. It refers to an arrangement whereby individual compensation is reflective of one's contribution to the social product (total output of the economy) in terms of effort, labor and productivity. This is held in contrast to the method of distribution and compensation in capitalism, where those who own private property receive unearned income in the