trickle down

Jeffrey Tucker on “the whole trickle-down thing”:

For years, free market theory of one sort or another has been caricatured as “trickle down economics.” The idea is that we believe that if society protects the wealth of the rich, and let’s them keep more of their money, the blessings will eventually trickle down to the poor and middle class. In some ways, it is not an entirely indefensible view, but of course the phrasing is designed to somehow elucidate the elitist absurdity even before arguments are heard. One thing I’ve learned is that when anyone says your position amounts to trickle-down economics, there’s not much else they are willing to discuss.

But it occurs to me that there might be a way to turn this phrase back on those who push for government intervention…

Read the rest.

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