trickle-down theory
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In his internationally renowned work, Capital in the Twenty-First Century, Thomas Piketty says that extreme economic inequality can only be sustained by “apparatuses of justification.” He states, “ The existence of such “apparatuses” can hardly be disputed; the notion that wealth rightly belongs to those who possess it, no matter the means by which they acquired it or… Read more
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Will Rogers was skeptical about the trickle-down theory, and he had it much more correctly than biased economists such as Art Laffer. Read more
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Art hur Laffer’s theories have often been used to support supply-side economics, the idea that cutting taxes would lead to economic growth which would in turn increase tax revenue. However, empirical data shows that Laffer’s theories are more about ideology than about practical economics. Read more
J.C. Moore Online 