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Enrichment

De-constructing the Laffer Curve and Trickle-down Economics

Here is a great opinion piece from Morris Pearl in the Guardian on trickle-down economics, echoing J.K.Galbraith's view that the very notion is flawed. His analogy was that trickle-down economics was akin to giving a horse more oats in the hope that you would increase the amount of food consumed by the birds that surround it.

However, it's a nice recap of the Laffer curve and the fact that for all it's theoretical appeal, there's very little evidence that it has even been verified empirically. And even if it has, you could make a case that the distributional consequences have offset any gains.

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