Comment by elmer2
1 day ago
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.
1 day ago
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?
You should see the comments sections on NYT articles, lately. It was like someone flipped a switch about two weeks ago.
It would be neat if someone did sweeping sentiment analysis on them, just to see it graphed, but I’m sure gathering the data would be prohibited.
1 reply →
Hate to break it to you, but the US doesn’t even break the top 10 in a lot of reports.
The US alone!