Comment by xingped
1 day ago
Ah yes, the famous "trickle down" theory, which you may know from its smash hit "trickle down economics"! Surely this time it'll be different, right?
1 day ago
Ah yes, the famous "trickle down" theory, which you may know from its smash hit "trickle down economics"! Surely this time it'll be different, right?
> Ah yes, the famous "trickle down" theory
While trickle down theory is dubious when it comes to economics, it's clear that it is valid when it comes to technology. Tech trickles down.
Ah yes, like my RAM, SSDs, and GPUs are trickling down right now? You're absolutely right! I love a trickle of PC parts!
This is a temporary anomaly due to the datacenter buildout, which will not last forever. Historically, tech has always trickled down. Sooner or later, hardware will again become cheap.
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How can you say tickle down economics doesn't work? The US has made it easier for businesses to grow and the result is the highest standard of living ib tje world.
I think it's hard to quantify "highest standard of living", but for the attempts at it (e.g. HDI, etc), the US is not number one.
Trickle-down economics specifically refers to economic policy that favors the wealthy and corporations with the argument that this will lead to wealth trickling down to the economically less fortunate. Examples include the Reagan and Trump tax cuts.
This has been studied somewhat extensively (https://academic.oup.com/ser/article/20/2/539/6500315?login=... is one example), and it’s been shown over and over that this does in fact not work and leads to larger wealth disparity, across many countries where it has been attempted.
It’s possible you’re working off some other definition of the term based on your comment but that’s the generally accepted usage.
The person you replied to was the second person I've seen on HN this week try and defend trickle-down economics explicitly in more or less the exact same terms and justifications. What is going on with that? Did Peter Thiel tweet some pro trickle down dreck recently that these people latched on to?
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Hate to break it to you, but the US doesn’t even break the top 10 in a lot of reports.
The US alone!