Critique of the Trickle-down Theory by William Blum

„The "trickle-down" theory: the principle that the poor, who must subsist on table scraps dropped by the rich, can best be served by giving the rich bigger meals.“

William BlumWilliam Blum critiques the trickle-down theory, describing its effects on the poor and the rich.
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William Blum was an American author and critic of United States foreign policy.

A critical view of the 'trickle-down' theory from a socio-political perspective by William Blum.


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William Blum quote critiquing the trickle-down theory

William Blum (1933–2018) initially worked for the U.S. State Department, which he left in 1967 because of his opposition to the Vietnam War. He later became a writer and co-founded the underground newspaper Washington Free Press. He was particularly known for his critical research into CIA covert operations and U.S. foreign policy.

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"The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history." Murray Rothbard
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