Muqaddimah empires to collapse, with the result that lower revenue was collected from high rates." He wrote: Ibn Khaldun introduced the concept now popularly known as the Laffer curve, that increases in tax rates initially increase tax revenues, but eventually the increases in tax rates cause a decrease in tax revenues. This occurs as too high a tax rate discourages producers in the economy. Ibn Khaldun used a dialectic approach to describe the sociological implications of tax choice (which now forms a part of economics theory): This analysis is very similar to the modern economic concept known as the Laffer curve.
Notional Defined Contributions pension system the pension is based on history of lifetime earnings and is much more heavily influenced by misreporting of one’s income. In Poland NDC pension scheme was introduced in 1996. The country faced serious fiscal challenges with rate of contribution into the pension system having reached 45% of gross wage. The system was implemented in 1999 after long political discussion about its various aspects and was meant as means of both reducing the future pension debt and motivating workers to prolong their careers. Notional Defined Contributions The term Notional Defined Contributions or Non-financial Defined Contributions or NDC refers to