arkardoMar 22, 2023
Robert Reich

A quick reminder:

1) Trickle-down economics is a cruel joke designed by the wealthy.

2) The “free market” has been distorted by campaign contributions from the ultra-rich.

3) Don’t lionize the ultra-rich as superior, “self-made” human being. They were lucky, had connections.

Mar 21, 2023 at 9:57pmWeb
Show threadRahul JaishankarMar 21, 2023
@rbreich: The only trickle-down effect I can appreciate is the one in tech/engineering. For example: R&D in motorsports, like F1, and how it benefits the automotive industry.
Show threadTim Ward ⭐🇪🇺🔶 #FBPEMar 21, 2023

@rbreich "Campaign contributions from the ultra-rich" do not *distort* the free market, they are *part of* the free market.

Anyone can join in the free market and buy and sell whichever politicians they like.

So long as they've got enough money of course ... but then that applies to everything else in the "free market" as well.

Show threadDenis RobertMar 21, 2023
@rbreich no such thing as a “free” market. There are always entities that control any market, whether explicitly, such as governments who write the rules of the market, or implicitly, such as market players who have outsized advantages over others. And in the end, there’s little that can distinguish the two.
Show threadSmartcowMar 21, 2023

@rbreich I think it’s original name of horse and sparrow economics is a better title.

https://www.saltwire.com/newfoundland-labrador/opinion/letter-horse-and-sparrow-theory-all-over-again-158995/

Letter: ‘Horse and sparrow theory’ all over again

Explore stories from Atlantic Canada.

The Telegram
Show threadBart Willems Mar 21, 2023
@rbreich it's funny how the Right's reluctance to accept scientiicf theories - evolution, vaccines, global warming, where "alternative views should be studied as well" goes out of the window with this economic theory.
Show threadDarwin WoodkaMar 22, 2023
@rbreich think how rich we could *all* be without the selfishness of the ultra-rich.
Show threadLabtjdMar 22, 2023
@rbreich
Without our brains and muscle not a single wheel would turn.