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OECD calls time on trickle down theory
Tuesday, December 6th, 2011
Dec. 5, 2011
Trickle down theory is dead. The belief fostered by Ronald Reagan in the U.S. and Margaret Thatcher in the U.K. in the 1980s, that if the rich got richer, their income and wealth would trickle down the income scale so that a rising tide lifted all the boats, has had the last rites pronounced on it – by the Organization for Economic Co-operation and Development. Its report “Divided We Stand” published on Monday highlights how income inequality is rising almost everywhere in the developed world.
Tags: economy, globalization, ideology, standard of living, tax
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