
The IMF Confirms That ‘Trickle-Down’ Economics Is, Indeed, a Joke - Jerry2
http://collectivelyconscious.net/articles/the-imf-confirms-that-trickle-down-economics-is-indeed-a-joke/
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xufi
The IMF sadly doesn't seem to understand how economics work considering they
piling the countries that are poor with more loans and know that they can't
pay them back.

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k__
I thought the idea of dept is something like slavery.

You don't want your money back, but rather that people owe you something.

A financially independent country would do much more things you don't like.

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xufi
Yep in essence the IMF doesnt get what they want if someone doesn't listen
which makes corporations that want into that country upset

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DrScump
This writer takes both quotes and data and spins them to say the _opposite_ of
what the detail in the original sources says.

First, he misapplies a Will Rogers quote and deliberately fudges the reference
(cutting and pasting one sentence out of a quote and omitting its context).
The full quote is in Wikiquote: "This election was lost four and five and six
years ago not this year. They didn't start thinking of the old common fellow
till just as they started out on the election tour. The money was all
_appropriated_ for the top in the hopes that it would trickle down to the
needy."

By _appropriated_ , he makes clear that it's _government spending_ that did
not trickle down, with which few Reaganite economists would argue. That's
fundamentally different from, and generally works against, free-market
activity.

Later, he writes, "The IMF report, authored by five economists, presents a
scathing rejection of the trickle-down approach..." Well, the intro language
implies that, but a look at the actual data (Table 1) is in _favor_ of
"trickle-down" for 4 of the 5 quintiles, with the negative effect on the
bottom quintile being _less than one-third of the average beneficial effect_
for the other 80%. And this is _despite_ the data being cooked as noted in the
footnotes.

