GoblinCampFollower
Well-known member
- Joined
- Sep 20, 2018
- Messages
- 5,583
- SL Rez
- 2007
Yeah... "trickle down" economics has been failing and even reversing since the 1970's (thank you Reagan). ...and it just keeps getting worse. Empirical evidence of wealth getting overly concentrated in the US economy keeps piling up.
What's funny is that a most of the "Essential" libertarian economic works were written during or before the 1970's. I read many of them in high school and undergrad, and still see libertarians cite them like they are gospel. Most of them were a bit dated on their theory even when written, but the last ~50 or so years of empirical data has really sealed the fact that they were just flat wrong. Most academic economists know this, but a lot of ideologs haven't gotten the memo and don't want to.
What's funny is that a most of the "Essential" libertarian economic works were written during or before the 1970's. I read many of them in high school and undergrad, and still see libertarians cite them like they are gospel. Most of them were a bit dated on their theory even when written, but the last ~50 or so years of empirical data has really sealed the fact that they were just flat wrong. Most academic economists know this, but a lot of ideologs haven't gotten the memo and don't want to.