Trickle down. Remember that? This was the idea that if we redirect real income towards capital by boosting profits via real wage suppression and/or corporate tax cuts, as if by magic, corporations will start investing the largesse in productive capital, which stimulates economic growth, and, the benefits ‘trickle down’ to the workers who made the initial sacrifices. The evidence base has never supported the idea yet it still resonates.
Review of Underground Empire: How America Weaponized the World Economy by Henry Farrell and Abraham Newman. In Jacobin. Read the article HERE.
Mainstream economics still thinks growth is essential, but this blind belief in GDP is just enriching the rich and killing the planet. We don’t need more growth to improve people’s lives. By working less, buying […]
Three years after the referendum on Brexit and on the eve of the new European elections, the scepticism about Europe is still as strong, particularly amongst the most disadvantaged sections of society. Read here
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