Technology

I hear what you're saying. I counter with low effort LLM reply. I don't live by what LLMs say, but they generate some good starting points to go and do much more narrow research.

I don't think it's entirely Reagan's fault, I think the idea existed before him. He just sold the idea to the American public. So I guess I could fault him for either believing in it, or just saying he did to support the desires of the wealthy.

this really is Reagan’s fault with his so-called trickle down economics

CLAUDE 3:

"Did any American politicians, economists, or general capitalism principles regarding 'trickle down economics' exists before president Reagan? What examples of trickle down economics existed before him? Did he invent the idea, or just the phrase?"

The concept of "trickle-down economics" predates President Ronald Reagan and his administration's economic policies. However, the specific phrase "trickle-down economics" became more widely used during Reagan's presidency to describe his economic policies, which were based on the idea that reducing taxes on businesses and the wealthy would stimulate economic growth, creating more jobs and wealth that would eventually "trickle down" to the broader population.

Examples of trickle-down economic principles before Reagan include:

1. The "Horse and Sparrow" theory, attributed to the French economist Jean-Baptiste Say in the early 19th century, which suggested that if the rich were allowed to get richer, their increased consumption would benefit the working class.

2. In the 1920s, Treasury Secretary Andrew Mellon, under Presidents Harding and Coolidge, advocated for lower taxes on the wealthy and businesses, arguing that it would spur economic growth.

3. The "Laissez-Faire" economic policies of the late 19th and early 20th centuries, which favored minimal government intervention and regulation, with the belief that unfettered capitalism would benefit society as a whole.

While Reagan did not invent the underlying economic theories, his administration's policies and rhetoric, particularly the use of the phrase "trickle-down economics," brought the concept to the forefront of public discourse and became closely associated with his presidency.

It's important to note that the effectiveness and fairness of trickle-down economics have been heavily debated among economists and policymakers, with critics arguing that it primarily benefits the wealthy and does not necessarily lead to broad-based economic growth or income redistribution.