Hey all, and Welcome to Finance and Fury, the Furious Friday edition.
Have you ever heard of trickle-down economics?
As you know, Friday episodes are here to clear up any misconceptions about economics and politics, and this is the biggest one when it comes to conservative side economics.
Today’s episode covers:
- What is trickle-down economics?
- How does it work? Who does it benefit?
- What is the misconception?
- When and Where did trickle down economics start?
- How does wealth get produced?
- What are some common examples of trickle-down economics?
- What is supply-side economics?
- How do you solve unlimited wants with finite resources?
- How can you demand anything if there is no supply?
- What does supply-side economics say?
- What is better to have? And what improves our living standards?
The benefits of supply-side economics:
- What are the benefits of supply-side economics?
- What are the aims and objectives?
- How is wealth different today compared to a caveman?
- Today, it’s those who innovate that do the best
- Compare recent product costs with past costs, which is more expensive?
- How does demand increase over time?
- What has to change for demand to increase?
- The more things that are being produced, the more the economy does well
- Where would you rather your money? What do tax breaks for the rich do?
- What does history tell us? Who invests their money?
Supply-side economics is not trickle-down:
- No wealth directly trickles from the rich to the poor when regulations and taxes are cut
- Lower costs and regulations mean higher productivity
- What are some real-life examples of this?
- How does this increase tax revenues?
We should aim to make the pie bigger, not split it into pieces. We have cheaper stuff and increased living standards through supply.
This will be the first of more episodes to come around supply side economics.
Thank you for listening, if you enjoyed it give it a review or share it around, and if you want to get in contact you can do so here.
Resources:
Supply-side economics – https://en.wikipedia.org/wiki/Supply-side_economics