Trickle-Up Economics: The Policy of Greed

The big idea is that if you release big business, allow for mammoth wage rises for top executives and abandon tax disincentives, the nation thrives. The success then ‘trickles down’ to benefit everyone.

Within the policy is an assumption that those at the top will want to benefit those at the bottom, that they are keen to benefit the nation, not just their bank accounts.

History shows that those in power rarely look beyond themselves. For every philanthropic executive, there are twenty more intent on securing their own seven figure salary and the payments to their shareholders. Where’s the trickle down to the poor? It’s not there.

Well done to Yvon Chouinard, the Founder of Patagonia clothing. He’s putting the whole company into a trust and ensuring the plan to make clothing from recycled plastic continues to have a future and that profits go towards managing climate change. Not so well done to the COE of Manchester Airports group who awarded himself a pay rise of 25% (£500,000) this year taking his total remuneration to £2.5m.

The latter is far more common than the former. To assume the rich are not greedy is to ignore the truth as reflected in the Bible: ‘Whoever loves money never has enough; whoever loves wealth is never satisfied with their income.’ (Ecclesiastes 5: 10)

The change of tack last week by our extreme right wing thinking Government will mean the rich get richer and the poor get poorer.