Rebirth of Reason

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Monday, September 26, 2016 - 12:08pmSanction this postReply

If Apple CEO Tim Cook sells a computer to me, the money I pay for it doesn't "trickle up" to Apple.  Apple earned it in exchange for selling me the computer.  If an employee of Apple works to produces the computer, the money he receives doesn't "trickle down" to him.  He earned it in exchange for his production. 


Even worse, the implication of the so-called "trickle down" catch-phrase is that the workers and consumers receive less from capitalism than what they've earned or are entitled to.  In fact, they receive not only what they are properly entitled to; they receive in addition a bonus, which they would not have been able to create or produce on their own. 


How many of the employees or consumers of Apple or Microsoft could have invented the technology they benefit from were it not for entrepreneurs like Steve Jobs or Bill Gates?  If there is an appropriate metaphor to describe the benefits the average person receives from innovative capitalists like Jobs or Gates, it is not "trickle down" economics but "cascade down" economics.  It is an economic system that gives workers and consumers benefits that far exceed what they could have invented or produced on their own.

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Monday, September 26, 2016 - 12:46pmSanction this postReply

Good post, Bill.


Maybe capitalism should be referred to as the "Expanding" economy, since every profitable transaction expands the satisfaction of all participants and expands the wealth in the economy.  There is no "trickling" going on - since that implies that a value existing at one place is slipping away going elsewhere.  Progressives are really hard on language.  Like everything else, they will abuse it in anyway they can if it moves them closer to their goals.

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