This is one of those annoying quips that people throw around. If you hear some form of, “This is an example of ‘trickle down’ economics which never works.”They don’t provide examples of who initially advocated this or still does. They may also be the type to claim that giving more money to the ‘poor,’for example through a rise in minimum wage would spur the economy through their spending, yet they argue that the wealthy keeping more of their money doesn’t do this.
Consumption does not grow economies, creation does. Creation is somewhat driven by the demand that consumption creates though. No demand for the consumption/usage of snow creating machines in Eskimo communities, so even if you cancelled the taxes (taxation is theft but shhhh) using that money to set up this kind of business in the northern arctic regions would likely not spur the economy.
Anyway, enough from me, here are two good articles worth a read.
“If there is ever a contest for the biggest lie in politics, this one should be a top contender.
While there have been all too many lies told in politics, most have some little tiny fraction of truth in them, to make them seem plausible. But the “trickle-down” lie is 100 percent lie.
It should win the contest both because of its purity — no contaminating speck of truth — and because of how many people have repeated it over the years, without any evidence being asked for or given.
Years ago, this column challenged anybody to quote any economist outside of an insane asylum who had ever advocated this “trickle-down” theory. Some readers said that somebody said that somebody else had advocated a “trickle-down” policy. But they could never name that somebody else and quote them.”
“The case against trickle-down, then, is pretty clear. But who exactly is making the case for it? Where are the economists, the politicians, the commentators, arguing that we should give more to the rich? Who avers that the best way to stimulate the economy is for plutocrats to have more to spend on their Lamborghinis and swimming pools?”
Thanks for reading. Now : Video of the post. As I discussed the arctic I still have to think if its the one in the north or south. Here is somehtign in the south. Should have a band called Women at Home make a video called Up Above- about Greenland (of which I found out at a trivia night is actually considered the worlds largest island, thought it was Australia but i may not have been using that word Island correctly)