Hard Knocks Chronicles

Observations from a graduate of the school of Hard Knocks
MARCH 26, 2009 11:34AM

Rethinking "Top Down" Economics

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One simple thing about it makes no sense...

If we rely on the good nature of the Rich to create jobs we are turning employment into charity.

It also sets up a Labor shift where the jobs are not created until the Owner feels they are rich enough to "give" some of their Money away.  This creates an explosion of available labor, thus pushing compensation rates down.

It builds a "you're lucky I gave you a job" mentality rather than the proper "Let's use our mutual talents to benefit each other" mentality that is needed for this country to return to greatness.

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Exactly. And to that point, we have had 30 years of top down fiscal policy, and economic preference. In that time the preference for investment and growth has been overseas, not domestic. The trickle down does not work. To all those who say making the wealthy wealthier creates jobs, I say, Where are they? They should be here by now.
Bill Beck
March 26, 2009 12:12 PM
Exactly. And to that point, we have had 30 years of top down fiscal policy, and economic preference. In that time the preference for investment and growth has been overseas, not domestic. The trickle down does not work. To all those who say making the wealthy wealthier creates jobs, I say, Where are they? They should be here by now.
Bill Beck
March 26, 2009 12:12 PM