The term “trickle-down economics” is nothing more than a label used by opponents of capitalism to disparage free markets, according to economist John Humphreys.
Humphreys, the chief economist at the Australian Taxpayers Alliance, said despite the term being widely used, it was nowhere to be found in economics studies.
“People who argue for free-market capitalism don’t actually use the term,” he told The Epoch Times in an email. “The left uses loaded language in order to ‘poison the well’ against their opponents, and thereby avoid honest policy debates.”
He said historical evidence showed that free market capitalism is the only sustainable way to bring millions out of poverty, and reducing barriers and regulations is the only way to drive productivity and wage growth….