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...
Paying the workers too little does not result in poor quality. If the labor supply exceeds demand, the natural price of labor is driven down, meaning the assembly line will keep going even if the workers are not making a living wage. So what do you do when the laws of supply and demand are not providing living wages to the majority of workers?
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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