"The chart shows in easy accessible terms much of what we already knew. Wages have been flat for most of us our whole working lives even as the rich have been making out like bandits. But it also shows that theory so near and dear to neoliberals: trickledown aka supply side economics aka Reaganomics aka “job creators” doesn’t work, has never worked."
Good article in Naked Capitalism on the myth of trickle-down economics. As Joe Stiglitz has brilliantly explained recently: what we have seen in the last two decennia is "trickle-up economics": poor and middle classes being squeezed to make the superrich even richer.
Via Willy De Backer