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
Mid-Levels higher residential property price for a residence that is away from pollution and yet remain so close to the centre of the city. Many streets are named after former Governors of Hong Kong. Examples include Bonham Road (after George Bonham, 1848–1854) and Kennedy Road (after Arthur Edward Kennedy, 1872–1877). Many of the roads in this area are within walking distance of the Central Business District, which is accessible by the Mid-Levels escalator from Central. Many choices for housing are available, from ultra-luxurious apartments to compact, near-luxury apartments. The costs of these apartments vary considerably according to the size, location and