This fact was obvious long before 50 years ago! For starters, just go back to Marx and Engels in the 1840s. The longstanding problem with that trickle down arg

This fact was obvious long before 50 years ago! For starters, just go back to Marx and Engels in the 1840s. The longstanding problem with that trickle down argument is and has always been that the rich have always had the money to: (a) effectively lobby politicians into accepting that viewpoint, and or (b) becoming politicians thus enabling them to enact laws that benefit themselves directly, and (c) to purge or whitewash arguments/statements to this effect from history (such as my comment here) by the effective use of propaganda. Ordinary people simply don't have the financial resources to effectively counter these self-serving actions. It really is time we stopped mucking about and called this economic nonsense for what it really is—a charade or justification that only fools the gullible. For instance, we could begin by abandoning the Nobel Prize for economics, this would bring the artificially-propped-up status of the Milton Friedmans of this world back down to earth.