Sowell states that "no such theory has been found in even the most voluminous and learned histories of economic theories." That's from a scholar who has published extensively in the history of economic thought. Several years ago, Sowell, in his syndicated column, challenged anyone to name an economist from any economic school of...
Actually, "trickle down" had been around a long time when I was in high school during the 1960's. Real "trickle down" only happens with communism and Socialism, where workers are paid very little, or as in Red China, are almost literally slaves. Free Market Capitalism results in the workers getting paid reasonably close to what their services are worth. This applies to both the workers on the assembly line and upper management. Paying the workers too little results in poor quality, which does not sell very well. Management is aware of this. A rising tide floats all boats. Viva la revolucion.
Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the Rich'" has just been published by the Hoover Institution. Having read this short paper, the conclusion you must reach is that the term "trickle down theory" is simply a tool of charlatans and political hustlers.
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