A critique to Trickle-down economics

Joseph Stiglitz
Intelligence Squared, 2015
Level: leicht
Perspektiven: Österreichische Schule, Neoklassik, Postkeynesianismus
Thema: Makroökonomik, Reflexion der Ökonomik
Format: Vortrag / Vorlesung
Dauer: 00:02:40
Link: https://www.youtube.com/watch?v=Auuk2oXK8tE

Trickle-down economics - a theory directly associated with "Reaganomics", but still relevant today. The idea consists of deregulation of the economy and of lower tax for the top in order to increase the "size of the pie" so everybody would have a bigger piece, even with a smaller share.

In this small video, Joseph Stiglitz gives an overview of "trickle-down economics" and why it has failed its own promises of raising people's living standard.

Comment from our editors:

This is the short version of a longer video (see here). It consists of good arguments by a distinguished professor. It is relevant for Exploring Economics since it is about a current discussion.

Go to: A critique to Trickle-down economics

This material has been suggested and edited by:

Christopher Dathe
Tags: history of economic thought | introductory courses | mainstream critique | neoclassical economics | neoliberalism | post-Keynesian | Reaganomics
The ecological crisis challenges the ways to understand the links between the environment, society, and the economy. To train students to be able to think critically about the issues associated with the crisis, it is important to take multiple perspectives into account. This lecture by Economy Studies can help students develop a familiarity with the different schools of thought and conceptions that exist within economics.
2022
Level: leicht
Perspectives on the Environment - Economy Studies
 
Economy Studies
Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics.
2013
Level: mittel
Discussing DSGE
Steve Keen
ProfSteveKeen
In this podcast 'How Economic Theory and Policy Reinforce Racism' William Spriggs, the AFL-CIO’s chief economist, discusses the inadequacies of the pandemic economic rescue package and the influence of mainstream economic theory. He further explores how mainstream economic theory continues to fail everyone, especially Black communities, by disregarding history.
2020
Level: leicht
How Economic Theory and Policy Reinforce Racism
William Spriggs
INET
What influence do changes in tax policy or state decisions on expenditure have on economic growth? For decades, this question has been controversially debated.
2020
Level: mittel
What is the fiscal multiplier and why is it so controversial?
Sebastian Gerchert
Exploring Economics
Balance of payments stability is of paramount importance for developing countries, both to secure the value of their domestic currencies as well as reliable foreign currency inflows. But how is that stability ensured and how important is the growth of exports for stability?
2020
Level: leicht
Thirlwalls Law Introduction
Jezri Krinsky
blobMetropolis
Ein Blick auf die marxistische Staatstheorie lohnt sich, um die Möglichkeiten und Grenzen staatlicher Politik besser zu verstehen. Moritz Zeiler präsentiert drei Ansätze der marxistischen Staatstheorie, die in das Thema einführen und als Appetitanreger für weitere Lektüre, Debatte und Theorieaneignung dienen sollen.
Level: mittel
Was ist der Staat? Einführung in zentrale Thesen marxistischer Staatstheorie
Moritz Zeiler
Exploring Economics

Spenden

Um sich weiterhin für Pluralismus und Vielfalt in der Ökonomik einzusetzen, benötigt das Netzwerk Plurale Ökonomik e.V. Unterstützung von Leuten wie dir. Deshalb freuen wir uns sehr über eine einmalige oder dauerhafte Spende.

Spenden