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Scholars who should know better may perpetuate this misconception, taking refuge in the simplicity of the term rather than engaging with the empirical evidence presented by both historical and contemporary economic outcomes. Reflections from notable economists indicate a tendency to avoid the messiness of data-driven discourse, instead opting for rhetoric that fits a familiar narrative.
Fundamental Economic Truths
Reflecting on this discourse reveals three pivotal truths about economics and policy that have stood the test of time:
- Language Shapes Perception: Words carry weight and can mold beliefs. “Trickle-down” is not a serious economic analysis but a crafted slogan that deters understanding.