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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]
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
The companion book to the series (co-authored by Milton and his wife, Rose Friedman), also titled Free To Choose, was the bestselling nonfiction book of 1980. [ 82 ] Friedman served as an unofficial adviser to Ronald Reagan during his 1980 presidential campaign , and then served on the President's Economic Policy Advisory Board for the rest of ...
David Gessner is an American essayist, memoirist, nature writer, editor, and cartoonist.. Gessner was born in Boston, Massachusetts and grew up in Worcester, Massachusetts.He attended Harvard College where he worked at the Harvard Crimson drawing political cartoons, most notably a drawing of Ronald Reagan urinating on an unemployed man in the gutter, entitled "The Trickle Down Theory". [1]
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.
Supply-side economics is a macroeconomic theory postulating that economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. [1] [2] According to supply-side economics theory, consumers will benefit from greater supply of goods and services at lower prices, and employment will increase. [3]
Middle-out economics is held in opposition to Reaganomics, sometimes referred to as trickle-down economics. The term middle-out economics was coined by Eric Liu, a former speechwriter for Bill Clinton, and Nick Hanauer, a venture capitalist. [6] Middle-out economics is a part of Bidenomics. [7] [8]
In his book Culture and Consumption (1990), Grant McCracken aims to rehabilitate the trickle-down theory by expanding it for modern day application and use in the study of contemporary fashion. He adapts the theory to include groups that assume superordinate and subordinate roles in the modern trickle-down process but are not necessarily ...