The Basics of Trickle-down Economics
Now that we have an idea of how the idea came about, let’s try to put all the pieces together to understand trickle-down economics as a whole. Tax breaks improve tax revenues, and according to Laffer’s curve, they also boost production. Giving tax breaks to the wealthy stands as a policy meant to improve the overall health of the economy. Opponents of this economic theory tend to believe that politicians who support it are in the pockets of wealthy businessmen. They often summarize trickle-down economics to something resembling Will Rogers’ definition: The policy of giving breaks to the rich first and hoping the benefits will eventually make their way to the working classes.
Proponents of trickle-down economics object to this evaluation, calling it not just an oversimplification but a misinterpretation of what they hypothesize will happen. Thomas Sowell, an ardent supporter of trickle-down theory, argues that the popular definition gets it backward. Instead of benefiting the wealthy first, the policy actually benefits the working class first. This may sound impossible – after all, it’s the wealthy who get the tax breaks, not the poor. These wealthy investors must pay workers, thus creating jobs, before they can expect to see any profits.
It’s the workers who receive the most immediate relief. While it might be true that some wealthy members of society seek tax breaks for self-serving purposes and might even bribe politicians into voting for these policies, trickle-down economists would consider this irrelevant to the question of whether the theory works for everyone.
An Overview of Major Frameworks
Much of what we know about societies, relationships, and social behavior has emerged thanks to various sociology theories. Some theories have fallen out of favor, while others remain widely accepted, but all have contributed tremendously to our understanding of society, relationships, and social behavior. Updated by Nicki Lisa Cole, Ph.D. The symbolic interaction perspective, also called symbolic interactionism, is a major framework of sociology theory. Feminist theory is one of the major contemporary sociological theories, which analyzes the status of women and men in society with the purpose of using that knowledge to better women’s lives.
Critical Theory is a type of theory that aims to critique society, social structures, and systems of power, and to foster egalitarian social change. Social learning theory is a theory that attempts to explain socialization and its effect on the development of the self. Game theory is a theory of social interaction, which attempts to explain the interaction people have with one another. As the name of the theory suggests, game theory sees human interaction as just that: a game. Sociobiology is the application of evolutionary theory to social behavior.
Social exchange theory interprets society as a series of interactions that are based on estimates of rewards and punishments. Chaos theory is a field of study in mathematics it has applications in several disciplines, including sociology and other social sciences. In the social sciences, chaos theory is the study of complex nonlinear systems of social complexity.
Politically Incorrect: War, slaughter, and patriarchy should have ended in the cradle.
Before the Armory came into being, I was publishing Notes on my Facebook profile which I called political grenades, weapons to be wielded in the war for animal rights. In addition to regular articles, the Armory has begun publishing Politically Incorrect, an ongoing, daily stream of grenades that I hope will be shared extensively. Most will be provocative, all will be irreverent, many seditious, and each will be designed to hit people upside the head. The purpose of the Armory is to challenge people to think, to question what they believe, to weigh what they value. Its mission is to radicalize the animal movement and to advocate for socialist revolution.
If you are a comrade you owe it to the animals to share the Armory far and wide. I am unaware of any other blog with the Armory’s mission of radicalizing the animal movement. If you know of other blogs dedicated to animal rights and the defeat of capitalism, please comment with a link. Be sure to follow the Armory and share it with your Facebook friends and email contacts, as well as on Twitter, Google, and all other social media platforms. Natasha Sainsbury, of Good Karma Graphic Design, has joined Armory of the Revolution as Editor, and is responsible for the transformation of the blog’s appearance.
If you are not already subscribed to the Armory, please do so before you leave. Be sure to visit Armory of the Revolution’s new commissary and bookstore: The Supply Depot. You will find recommended reading on Animal Rights, revolutionary theory, politics, economics, religion, science, and atheism.
The Benjamin Franklin Tercentenary
Franklin didn’t patent any of his inventions or scientific discoveries, since he believed that everyone should be able to freely benefit from scientific progress. Despite his later fame as a scientist and diplomat, Franklin actually thought of himself first and foremost as a printer, all the way up to the end of his life. Printing is an industry with high capitalization costs, so Franklin needed support to get set up on his own. In his autobiography, Franklin noted that he often worked past 11pm to get a job done, and that if necessary, he would stay overnight to redo it. At the age of thirty, by which time his Pennsylvania Gazette was the most widely read newspaper in the colonies, Franklin campaigned to be made clerk of the Pennsylvania Assembly.
Franklin took risks, but only very calculated risks. Franklin published all these types of material, but when his calculations convinced him that his investment in more daring ventures would be returned, he was prepared to take the risk. Franklin came up with solutions that turned potential problems into silver linings. Rather than risk one of his journeymen finding the backing to become a local competitor, Franklin came up with a basic franchising idea. Having tackled supply, Franklin moved on to distribution, spending years lobbying for the top post office job in the colonies.
Franklin came up with America’s first political cartoon, and printed Pamela, the first novel published in the colonies. Franklin identified unmet demands, created an awareness of them, and then often stepped forward to fill them.