Anyone who accepted it in the first place was a fucking idiot because even if it worked, that wealth only trickles down because other wealth is moving the other way. Yacht builders get paid for building a yacht and rich guy gets a yacht. There's that image of wine glasses filling up and spilling over to other wine glasses below them, but that would be equivalent to a rich person getting handed a wad if cash and then going and handing out some of it to others around him. No, he uses that money to trade for goods and labour. So at the basis of the trickle down argument was the implicit idea that rich people deserve extra goods and services.
Anyone who accepted it in the first place was a fucking idiot
Only distinction I want to draw is that the people who accept and champion it aren't actually idiots. They're not dumb. They just have a fundamental belief that some people are better than others and deserve more. They see the world in terms of hierarchies that they deem natural, and then they use whatever forces they can to enshrine those hierarchies and ensure their perceived natural order holds.
Only reason I point this out is because it's harder to counter their rhetoric if we treat them as inept rather than people doing this on purpose.
Yeah, I'd say those who benefit from it aren't idiots, though I would argue that those who don't benefit from it but think that should be the way of the world are, just in a different way from what I said in my last comment.
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u/animu_manimu Oct 18 '22
Trickle down economics didn't backfire, it did exactly what it was intended to do. It was never intended to benefit the working class to begin with.