"Two years after the financial crisis, the U.S. economy has steered clear of total disaster, with the Dow Jones industrial average currently near its pre-crash level. But the theories that caused it all are still out there, lurking in the shadows."
By John Quiggin
This was my favorite, you read it everyday on USMB.
"The Trickle-Down Hypothesis: the idea that policies that benefit the wealthy will ultimately help everybody.
Unlike some of the zombie ideas discussed here, trickle-down economics has long been with us. The term itself seems to have been coined by cowboy performer Will Rogers, who observed of U.S. President Herbert Hoover's 1928 tax cuts: "The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover ... [didn't] know that money trickled up.""
Five Zombie Economic Ideas That Refuse to Die - By John Quiggin | Foreign Policy
Five Zombie Economic Ideas That Refuse to Die - By John Quiggin | Foreign Policy
By John Quiggin
This was my favorite, you read it everyday on USMB.
"The Trickle-Down Hypothesis: the idea that policies that benefit the wealthy will ultimately help everybody.
Unlike some of the zombie ideas discussed here, trickle-down economics has long been with us. The term itself seems to have been coined by cowboy performer Will Rogers, who observed of U.S. President Herbert Hoover's 1928 tax cuts: "The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover ... [didn't] know that money trickled up.""
Five Zombie Economic Ideas That Refuse to Die - By John Quiggin | Foreign Policy
Five Zombie Economic Ideas That Refuse to Die - By John Quiggin | Foreign Policy