Do you believe in 'trickle-down' economics?
Do you think high levels of inequality is what developing countries need to grow? Such as like in China or in Industrial age Britain? With money in the hands of the wealthy few, they have more money to lend out to investments and do luxury expenditure?
Here's an overview of my undergraduate research into the topic!
Here's an overview of my undergraduate research into the topic!
No, trickle down economics does not work, it has never worked.
Triple up economics is how the world works actually. The majority of the rich have got their wealth from the work of the poor effectively stealing it. This understanding is why we shouldn't be too scared of the rich leaving the country as instead the Government could invest in creating businesses and in the long term wealth would be generated for the people not the rich.
The idea that entrepreneurs and businessmen can devise innovations in the market and expand production to a scale which improves the material wellbeing of ordinary workers isn't outlandish at all. Trickle down economics isn't about wealth literally trickling down to poorer people, we have state redistribution for that. The fundamental principles of trickle down, less aggressive taxation and less burdenous regulation, is to encourage wealth creation through supply side expansion. So long as the state provides the essentials like health, housing and education, we should let the markets and consumers do their jobs. Excessive taxation and excessive red tape is bad for productivity and bad for job creation.
Seeing as the concept was based on fundamentally flawed economic data and assumptions, it's not surprising that it doesn't work. So no, I do not "believe" in it, because this isn't a theological concept, it's an empirical model which is wrong, and thus needs to be thrown out. However it's a convenient way for conservative politicians to prop up their business interests so we must live in its stranglehold for posterity it seems.
Picture is related.
Picture is related.
I believe in free markets but in a regulated sense. people sometimes have to be pushed to be entrepreneurs and it's not that easy to create an entreprenuial culture.
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Why is the political left now censorious and authoritarian??Last reply 1 day ago
Is it true that British unis are prejudiced towards degrees from Scottish unis?Last reply 1 day ago
If the Russell Group was now a fair representation of what it still claims to beLast reply 2 weeks ago
TSR Goes Green: How important will the environment be in this year's election?Last reply 2 weeks ago
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