Laffer curve costs). Although tax policy is often mentioned in relation to supply-side economics, supply-side economists are concerned with all impediments to the supply of goods and services and not just taxation. In their economics textbook "Principles of Economics" (7th edition), economists Karl E. Case of Wellesley College and Ray Fair of Yale University stated "The Laffer curve shows the relationship between tax rates and tax revenues. Supply-side economists use it to argue that it is possible to generate higher revenues by cutting tax rates, but evidence does not appear to support this. The lower tax rates by the Reagan administration decreased
To each according to his contribution is derived from greater training requirements, job intensity, safety hazards, etc.—the more one is rewarded for the labor contributed. The purpose of the principle, as Trotsky would later state, is to promote productivity. This is done by creating incentives to work harder, longer, and more productively. The principle is ultimately a stowaway from capitalism that, according to Marx, will vanish as work becomes more automated and enjoyable, and goods become available in abundance. The principle has its roots in the way that capitalism manages its affairs. That is, each is rewarded according to how much he produces. Remuneration increases as