The Case for a Working Capitalism

January 8, 2014 at 4:46 pm

I stumbled on the following quote from economist Ha-Joon Chang over the holidays:

Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are—a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.

Chang’s quote reminds us of the initial promise of supply-side economics, that a rising tide would lift all boats, and the subsequent failure to deliver.


It also made me think about one of the most powerful conservative frames: redistribution of wealth.

Chang turns the tables on the typical conservative argument and he gave me an idea how to take things a step further.