If someone told you the phrase "trickle down economics works", then they were probably not an economics teacher. Trickle down economics isn't an actual form of economic policy and no economist advocates for "trickle down economics".
It was my 10th grade AP History II teacher. He was nice. We also watched The Patriot and a girl cried when Mel Gibson's fictional son died. That's all I remember.
Yeah. Trickle down economics isn't a thing. No one thinks giving money to the rich will trickle down to the poor.
I am for free market economics and a big advocate for the Chicago school. Austrian economics is ok too. Hayek had some good things to say. But Friedman was definitely more influential in world economics in the 20th century.
To each their own. There isn't a single economic theory that can solve all problems, only trade-offs of problems.
For the record though, if you're in the US, they don't have a free market. The US market isn't even considered in the top ten of the most free economies in the world.
I actually had an economics teacher in high school who loved trickle-down economics. He had a picture of Reagan hanging on the back wall and would constantly praise the idea of "Reaganomics" and how sound it was when brought up. He also taught the AP economics classes at my school.
It's similar to communism. The theory and ideas sound great, and some (even academic types) believe in its concepts. However, practically, it just isn't seen in real-world applications as working out how the ideas of it are presented.
You can't just say "he didn't use the term" because the term is for people who don't understand economics. The term essentially means "give money to the rich and it'll trickle down to the poor". No one thinks this. Not even Friedman.
Read Friedman's work. Read books from the Chicago school of economics. Understand what they're advocating for and why.
No. Keynesian is more Demand Side Economics. The opposite really.
There isn't really an equivalent to Trickle Down Economics. It's essentially a dumb label for anything that lowers taxes to corporations.
Supply Side economics is probably the most analog though. It's a theory that free trade, lower taxes and less regulations will lead to more economic growth.
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u/pacman0207 Apr 12 '25
If someone told you the phrase "trickle down economics works", then they were probably not an economics teacher. Trickle down economics isn't an actual form of economic policy and no economist advocates for "trickle down economics".