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Susan A. McGregor North Kingston, R.I., Aug. 3, 2010 To the Editor: Re "Defining Prosperity Down," by Paul Krugman (column, Aug. 2): Maybe now we can finally admit that "trickle down" economics doesn't work.
Three recent articles on the Op-Ed page discuss our economic problems and the sufferings of our unemployed workers ("Defining Prosperity Down," by Paul Krugman, column, Aug. 2; "A Sin and a Shame," by Bob Herbert, column, July 31; "Welcome to the Recovery," by Timothy Geithner, Op-Ed, Aug. 3).
Just like NAFTA, just like China's entry into the World Trade Organization (WTO), free traders swore that the Korean deal would shower jobs and economic prosperity down on America. .
Clinton understands billionaires like Trump are not trickling prosperity down to average Americans.
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The report reveals that although declines have been seen across all demographic groups over the last decade, the largest declines are for the "urban prosperity" group, down from 57.3% to 37.8%, and the "wealthy achievers" group, down from 50.9% to 33.5%.
Instead of prosperity trickling down, pain has trickled up.
He added, "The surest way to make sure prosperity slows down is to expand the role and scope and size of the federal government".
"It's a philosophy we've had for the last eight years - one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else".
He tied his opponent, John McCain, tightly to Mr. Bush and to an "old, discredited Republican philosophy — give more and more to those with the most and hope that prosperity trickles down to everyone else".
Senator Barack Obama Campaigning in Canton, Ohio "At a moment like this, the last thing we can afford is four more years of the tired old theory that says we should give more to billionaires and big corporations and hope that prosperity trickles down to everyone else.
Just how much of Chile's prosperity is down to the policies of the Pinochet regime, and how much is to do with the policies of later centre-left governments and the country's vast mineral wealth, is still a matter of debate.
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