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I did not know the definition of 'trickle down' economics, thanks for that. I had a vague idea of bread crumbs falling off the table of the 'lords' to be consu

I did not know the definition of 'trickle down' economics, thanks for that. I had a vague idea of bread crumbs falling off the table of the 'lords' to be consumed by the 'populace'. My idea was : someone buys a multi-million Yacht, well they need a captain, cook and other staff to maintain their ship. The wealth (from buying a luxury item) trickles down to the employees. Of course, this was a simple intuition and the idea had no formal definition for me.

monknomo 6y ago
You may enjoy horse and sparrow economics - to feed the sparrows, simply give the horse oats. Eventually the birds will get some
dmix 6y ago
Just to be clear no economist has ever used the phrase "trickle down economics" to describe an economic policy. It's always been a derisive term used in politics. > Years ago, this column challenged anybody to quote any economist outside of an insane asylum who had ever advocated this "trickle-down" theory. Some readers said that somebody said that somebody else had advocated a "trickle-down" policy. But they could never name that somebody else and quote them. https://www.creators.com/read/thomas-sowell/01/14/the-trickle-down-lie https://www.creators.com/read/thomas-sowell/01/14/the-trickl...
- Veen 6y ago
  > no economist has ever used the phrase "trickle down economics" No, but plenty of economists have used the phrases "supply-side economics" and "Laffer Curve" to discuss (and advocate) the policies that "trickle down" was coined to disparage.
  - deleted 6y ago
    [deleted]
  - tialaramex 6y ago
    Right, and the fact that actual economists (including obviously Laffer who has a Stanford PhD in economics) have tried to pretend the curve is relevant to real world tax policy ought to be cause for laughter. Instead of course American politicians took him seriously and it's cause for misery for many of its poorest citizens. "Brilliant". It should be taken as seriously as if a physics PhD tried to persuade your state that it should use solar power to convert lead into gold.

monknomo 6y ago

You may enjoy horse and sparrow economics - to feed the sparrows, simply give the horse oats. Eventually the birds will get some

dmix 6y ago

Just to be clear no economist has ever used the phrase "trickle down economics" to describe an economic policy. It's always been a derisive term used in politics. > Years ago, this column challenged anybody to quote any economist outside of an insane asylum who had ever advocated this "trickle-down" theory. Some readers said that somebody said that somebody else had advocated a "trickle-down" policy. But they could never name that somebody else and quote them. https://www.creators.com/read/thomas-sowell/01/14/the-trickle-down-lie https://www.creators.com/read/thomas-sowell/01/14/the-trickl...

Veen 6y ago
> no economist has ever used the phrase "trickle down economics" No, but plenty of economists have used the phrases "supply-side economics" and "Laffer Curve" to discuss (and advocate) the policies that "trickle down" was coined to disparage.
- deleted 6y ago
  [deleted]
- tialaramex 6y ago
  Right, and the fact that actual economists (including obviously Laffer who has a Stanford PhD in economics) have tried to pretend the curve is relevant to real world tax policy ought to be cause for laughter. Instead of course American politicians took him seriously and it's cause for misery for many of its poorest citizens. "Brilliant". It should be taken as seriously as if a physics PhD tried to persuade your state that it should use solar power to convert lead into gold.