Supply-side/trickle-down economics

The Way Out: What Lies Ahead for America by Upton Sinclair published in 1933. Sinclair describes the state of the nation at the beginning of FDR’s presidency. Skilled workers in Detroit have seen wages lowered to $0.08-0.10/HOUR if they have a job and women working in mills in the South earned $0.08-0.10/DAY. Very little purchasing power in those kinds of wages for an honest days  work. That was the problem then and it continues today, lack of purchasing power by the TRUE job creators, consumers. There was plenty of supply then just as there is now. Giving more money to the wealthy to create jobs will NOT create jobs for which demand is lacking.

Sinclair does not use the terms supply-side and trickle-down economics in his book, those terms are of more recent vintage. However, the Hoover administration followed policies that could be described as supply-side/trickle-down. They were described then as BUSINESS AS USUAL. I think we all know how effective that was against the Great Depression. It truly is a shame that was the Republican response in 1929 and is still the GOP response to recession now in the twenty-first century. When will they and we ever learn that supply-side/trickle-down economics does NOT work?

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