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The term itself is used mostly by critics of the concept. The Merriam-Webster Dictionary notes that the first known use of "trickle-down" as an adjective meaning "relating to or working on the principle of trickle-down theory" was in 1944, [11] while the first known use of "trickle-down theory" was in 1954. [12]
The US Federal Tax Revenue as % of the GDP decreased from 18.5 to 17.4 from 1980 to 1990. [10] However, actual tax revenue increased from $517 billion up to $1.0 trillion as the GDP more than doubled, growing by 109% (from $2,857 trillion to $5,963 trillion) during this time period.
Trickle-down theory" or "Trickle-down effect" can refer to two different but related concepts: Trickle-down fashion , a model of product adoption in marketing Trickle-down economics , a theory for tax cuts on high incomes and business activity
Ideas from this project later became a part of his Theory of the Consumption Function, a book which first described consumption smoothing and the permanent income hypothesis. Friedman began employment with the National Bureau of Economic Research during the autumn of 1937 to assist Simon Kuznets in his work on professional income.
Stiglitz, together with Avinash Dixit, created a tractable model of monopolistic competition that was an alternative to traditional perfect-competition models of general equilibrium. They showed that in the presence of increasing returns to scale, the entry of firms is socially too small. [ 49 ]
“Trickle Down” Economics isn’t a theory of economics, but a mechanism present in all economics. It’s meaning has been tied to one man’s usage while holding office and misrepresented ever ...
In theory, if the country produces more fuel, the price at the pump will drop. The savings the farmers and shippers realize could then trickle down to consumers.
Veblen rejected any theory based on individual action or any theory highlighting any factor of an inner personal motivation. He considered such theories to be "unscientific". This evolution was driven by the human instincts of emulation, predation, workmanship, parental bent, and idle curiosity. Veblen wanted economists to grasp the effects of ...