Approach Quote by John Kenneth Galbraith
“Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.”
About This Quote
Supply‑side economics is likened to a simplistic ‘horse‑and‑sparrow’ model: feeding the wealthy (horse) is assumed to benefit the poor (sparrows), but the analogy suggests the trickle‑down effect is weak and indirect.
In simple terms: Trickle‑down economics is an ineffective trick.
Key Takeaway
Wealth‑focused policies rarely benefit the poor.
Themes
economics
policy
inequality
supply‑side
trickle‑down
Mood
critical
analytical
Type
economic critique
analytical observation
When to use this quote
- tax cuts for high earners
- corporate subsidies
- wealth tax debates
Key Concepts
distributional effects
policy critique
Practical Applications
- Model income redistribution impacts
- Design progressive tax structures
Questions to Reflect On
- What evidence supports or refutes trickle‑down claims?
- How can policy balance incentives with equity?
A Different Perspective
Some argue targeted supply‑side incentives can spur growth that eventually benefits all.
