“The Failed Trickle-Down Theory: Why Wealth Inequality Persists Despite Promises of Benefit for All”

The wealth trickle theory, remember? Let’s unleash the economy, let a handful of individuals get rich without limit! Their fortune will end up benefiting the greatest number, right down to the bottom of the social ladder, through a “trickle-down” effect, of course, without the intervention of redistributive taxation. Invented by the Anglo-Saxon world in the early 1980s, it made the heyday of economic globalization, imposing itself even in China (“Let a few get rich first”, proclaimed Deng Xiaoping to mean the end of egalitarianism). Then the financial crisis and the pandemic passed by. And only an Emmanuel Macron still dared to refer to it. Washington has just decreed its historic failure. The trickle down doesn’t work for the poor or the middle class.