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It was called trickle down economics and it failed.

• harimau777 3y ago
  For what it's worth, Nobless Oblige is the idea that people with power (originally nobility but we could probably extend it to people like wealthy industrialists) have an obligation to behave with nobility; in this context to help those less fortunate. It's sort of the opposite of trickle down economics in that trickle down said that the wealthy shouldn't be expected to directly work for the good of society because the wealth that they attain will trickle down and contribute to the good of society on its own.
• suoduandao3 3y ago
  One might say it was rebranded as trickle down economics. Given the 'nanny state' that exists in London where there still is a culture of nobless oblige there might be an argument for benign neglect from the well-off. Of course, the ideal is a balance between the two extremes.