Trickle-down economics is the greatest broken promise of our lifetime

by Rachel Baker on January 27, 2014

This is an interesting opinion piece by Alex Andreou at The Guardian. There are 679 comments, and the discussion is probably more interesting than the article itself.

why are most governments continuing to fiddle with supply-side levers in order to revive the economy, when it is abundantly clear it does not work? The simple answer is in two parts. First part: habit. The second was perfectly expressed by the creator of The Wire, David Simon: “That may be the ultimate tragedy of capitalism in our time, that it has achieved its dominance without regard to a social compact, without being connected to any other metric for human progress.”

We have come to measure, to an increasing extent, individuals’ success by their wealth, spending power and other assorted trappings. We do the same with the economic success of governments; measure it by an aggregated data set that fails to take into account wealth distribution, educational achievement, innovation, or even the welfare and health of the population they claim to represent. We must shift this perspective. It will be the hardest, simplest thing we have ever had to do as a species.

Check out the remainder of the article here:
http://www.theguardian.com/commentisfree/2014/jan/20/trickle-down-economics-broken-promise-richest-85

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