3 ms·
Colloquial use of theory usually means concept or hypothesis.
by darpa_escapee 9y ago
Colloquial use of theory usually means concept or hypothesis.
- ChefDenominator 9y agoOkay, there is no formal concept or hypothesis of trickle down economics. (However, most PhD economists use the phrase "economic theory," but you may have some insight into this that they have not yet been exposed to.)
- defterGoose 9y agoSure there is. The concept is that if you allow the richest to keep all their riches, they will spend it on things which will stimulate the rest of the economy. Of course, this has proven to be a seriously misguided theory, with the actual results being a lack of consumer spending and concentration of wealth to the wealthy. Is that succinct enough for you? Now, whether a bonafide economist came up with this, or RR just pulled it out of his butt is another question...
- ChefDenominator 9y agoThis is not a description of a formalized theory, but thanks for playing.