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"Trickle down" is the political synthesis of the Chicago School of economics, largely invented by https://en.wikipedia.org/wiki/Milton_Friedman https://en.wik
by dsr_ 6y ago
"Trickle down" is the political synthesis of the Chicago School of economics, largely invented by
https://en.wikipedia.org/wiki/Milton_Friedman https://en.wikipedia.org/wiki/Milton_Friedman , and the existing authoritarian built in the Republican Party.
Remember that their counter-argument is that giving money to people who don't deserve it (proven because they are not the elite) is a waste because they don't "build" anything with it, since they need to spend it.
The value of this proposition is to build concentrations of wealth, which are their own proof of virtue.
The religious expression of this is the Prosperity Gospel https://en.wikipedia.org/wiki/Prosperity_theology https://en.wikipedia.org/wiki/Prosperity_theology .
- jiojfdsal3 6y agoThis is like saying YC should give their money to the poor instead of investing it in privileged entrepreneurs from Ivy League universities
- lhoff 6y agoI think thats the wrong analogy. Trickle down would be to give the money to big successfull corporations and hopen that they are buying and funding startups with it.
- Can_Not 6y agoWhy would YC give their hard earned money to the lazy poor startups when they can give it to hard working companies like Microsoft and IBM?
- rascul 6y ago> largely invented by https://en.wikipedia.org/wiki/Milton_Friedman https://en.wikipedia.org/wiki/Milton_Friedman That doesn't seem correct. I'm led to believe that trickle down economics (the concept, if not the name) existed before Milton Friedman was born after looking through https://en.wikipedia.org/wiki/Trickle-down_economics https://en.wikipedia.org/wiki/Trickle-down_economics.