Why trickle down economics doesn't work

Retro

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There's this notion that trickle down economics helps to grow the economy and therefore help the poorer sections of society. However, it's been tried and discredited several times over. If you're ever faced with a zealot who insists that it does actually work, Phil Moorhouse of A Different Bias does an excellent job of explaining why it doesn't and also what actually does work. Phil also explains how brexit is that big barrier to growing the economy.

 

Tiffany

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Markets without stifling over-regulation and and honest businesses supports the growth of business and societal harmony. Capitalism only works when their is honesty at the top tier. Trickle-down economics is one of those terms that people hear and think it's okay until they really look at it. Good topic!
 

Retro

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Capitalism needs a moderator or it turns into slavery. A mixture with socialism, not too much, seems to be the best blend. Things seldom settle on the optimum though.
 

Crims

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I posted a video of Thomas Sowell a while ago. He was in Milton Friedman (popular libertarian)'s class as the most socialist person, and still doesn't agree with this notion of economics either.

To improve on this, as nerds surely there's a smarter way?
 
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Arantor

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Trickle down relies on those higher up having the willingness not to hoard. So, uh, never, because those higher up do not get higher up without having the willingness to hoard by definition.
 

Tiffany

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Truss on child poverty is double-speak; mumbo-jumbo to me. If one is in poverty, then you are in all out survival mode, where food, and shelter is the ultimate challenge, and if you are working you have a tiny edge against those that are not working to have some austere comforts. If you are in a destitute state, then how are you going to get educated to to be "the people that get into work for those high paying jobs"? What's the "mini-budget" going to go towards? I get why you all are frustrated with Truss.
 

Retro

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Yeah she's totally effing useless. Only thing she's good for is getting the tories out of power. There's already talk that they're stuffed.

Oh and she's not Johnson. What a bonus.
 

Retro

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Well, that didn't take long. I think the tories are in meltdown lol.

 

Arantor

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What kills me is the way they’re desperate to spin it as though that the Tories aren’t responsible.

The NHS for example is messed up because of Labour— except Labour haven’t been in power for the last 12 years. But it sounds compelling.
 

Tiffany

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Political blame games....when do parties ever own their failures? Same here in the US.
 

Arantor

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Yes but this is 12 years of the Tories running it but all the faults and it all being broken *now* is somehow the fault of those in power in 2010…
 

Tiffany

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Yes but this is 12 years of the Tories running it but all the faults and it all being broken *now* is somehow the fault of those in power in 2010…

K, well, the Tories have "no standing" in the matter, if that's the case. They own this for sure...2010 is a long time ago. Seriously!! :rolleyes:
 

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What's especially galling, is that they come up with any old BS excuse blaming everyone but themselves and the gullible great unwashed usually believe them. Thus, they've got away with so much corruption for so long and keep winning elections, but I think it's finally catching up with them now. Even some other tories are going on record saying they think Labour will win the next election.

Can't come soon enough, I tell you.
 

Tiffany

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I totally understand your sentiments during these times of who's fricking up, er... a.... occupying the office of President or Prime Minister at the time....sigh.....
 

Crims

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We've had quite a lot of issues from several governments ago that have basically been all but left. Relevant because A. Tory culture and divide and conquer gaslighting the general public
B. Economic spending

A great example is drug use. The UK in 2010 was so good that celebrities from the US would go here for rehabilitation. Now it's atrocious.

EDIT: So probably with Jeremy Hunt the next thing is how accurately things are taxed.
 
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Retro

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That site isn't formatted for smartphones, is it? Really should be in 2020.

I got the impression that article was trying to point up problems with the EU as the author may be pro brexit.

There are certainly issues, but leaving, like we did, was beyond idiotic and we're suffering the consequences now. Hopefully, it won't take us 20 years to get back in.
 

Crims

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I got the impression that article was trying to point up problems with the EU as the author may be pro brexit.
First result on DDG for 'economics of europe map'. Kind of a crucial topic though for the future ahead for the UK.
 
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