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The trickle down was never meant to trickle and if it had, the people who advocated it would not have advocated it. Its purpose, like that of the "business cyc
by FrankWilhoit 2y ago
The trickle down was never meant to trickle and if it had, the people who advocated it would not have advocated it. Its purpose, like that of the "business cycle", is to concentrate ownership.
- dpe82 2y agoThe "business cycle" has no purpose; it's an emergent phenomenon.
- FrankWilhoit 2y agoOh, my sweet summer child....
- SR2Z 2y agoI love it when people smugly post econ opinions that fly in the face of consensus with zero evidence. Dude, the "business cycle" is the natural consequence of speculatively allocating resources. Sometimes people do just overestimate how much the economy can grow.
- FrankWilhoit 2y agoLike anything else, the manner in which it is exploited becomes its purpose.
- dpe82 2y agoI quite enjoy the warm weather of summer, and exploit that by wearing shorts. Are shorts the purpose of summer?
- Gibbon1 2y agoI think Will Rogers has a quote that the advantage of giving poor people money is they get to use it for a short time before the rich get their hands on it. In honest economics this is referred to as the propensity to consume. I extend it by noting when you give the wealthy money they use it to blow asset bubbles.