Trickle-down theory - the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows.
About this quote
- What does it mean?
- Trickle-down economics suggests benefiting the wealthy will eventually help the poor, but Galbraith dismisses it as a weak metaphor.
- In plain terms
- Giving to the rich doesn't reliably help the poor.
- What can you take from it?
- Wealth concentration rarely benefits everyone fairly.
Where it applies
Putting it to work
Questions to consider
- Does wealth concentration help the poor?
- How do benefits actually flow?
Another view
Some argue growth from wealth can eventually create jobs.
More from John Kenneth Galbraith
There are times in politics when you must be on the right side and lose.
Permalink to quote #79 Under capitalism, man exploits man. Under communism, it's just the opposite.
Permalink to quote #81 The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.
Permalink to quote #78
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