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Sunday, October 10, 2010

Trickle Down used to be called Horse and Sparrow economics


The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory".

Galbrath wrote, "Mr. David Stockman has said that  supply-side  economics was merely a cover for the trickle-down approach to economic  policy.  What an older and less elegant generation called the horse-and-sparrow theory: "If you feed the horse enough oats, some will pass through to the road for the sparrows."

source: Csaba, Usenet Date: Sun, 10 Oct 2010 19:20:40 

Trickle down is the "horse shit" school of economics.
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