Scroll down an inch or two to get to the meat and potatoes of the articles.
Vegetarians can scroll down an inch or two to get to the tofu and brown rice.
Just for fun: watch the 2 lines of header above and press your F5 key
Top-down Economics:
- People are out of work because the economy is bad.
- aka "Supply-Side Economics" and "Socialism for the Rich"
- Highlights:
- Tax cuts for the wealthy
- 'tinkle-down' wealth
- growing monopolies
- increasing national debt
- law of the jungle markets
- The solution to economic slumps: wait it out (and give the wealthy more tax cuts)
- High Times (all featured tax cuts for the wealthy and deficit spending):
- 1929-1932 (stock market crash, liquidity crisis, 25% unemployment)
- 1969-1976 (inflation, weakening dollar, wage-and-price controls, 'stagflation')
- 1981-1992 (sluggish economy, huge market crash in 1987)
- 2001-2008 (high unemployment, declining average family income, record deficit spending)
Bottom-up Economics:
- The economy is bad because people are out of work.
- aka "Demand-Side Economics" and "Capitalism for the People"
- Highlights:
- Tax policy that WORKS
- entrepreneurial growth
- low unemployment
- paying down debt
- businesses subject to oversight
- The solution to economic slumps: create jobs
- High Times (all started with tax increases or with relatively high taxes):
- 1933-1940 (economy recovered from disasters of 1929-1932)
- 1941-1952 (booming economy)
- 1960-1968 (booming economy)
- 1993-2000 (longest sustained economic boom in US history)
Labels: capitalism, demand-side, market crash, socialism, stagflation, supply-side, Tax cuts for the wealthy