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Trickle Up Economics

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Daily Dose of Reason - Politics & Government
Written by Michael J. Hurd, Ph.D.   
Sunday, 19 October 2008 13:55
Obama's philosophy of wealth creation should be called "trickle up" economics. He believes, and states over and over again, that the worker -- and the middle class employee -- is the central unit of economic activity. Karl Marx had a name for this idea. It was called the labor theory of value. Marxists and Obama liberals believe that the little guy creates wealth, and that the rich (i.e, those making over $200,000 a year) steal that wealth from the little guy. Obama liberals see their mission as one of returning that wealth to the little guy. Incredibly, they not only see this as morally just; they see this as economically feasible and desirable. They actually believe this is the way to create and expand wealth. The next time you hear Obama say, "Let's spread the wealth around," this is what he means. It means he ignores the indispensable contribution of the innovator, the risk-taking entrepreneur, and the capitalist. You ignore them at your peril, because these are the originators of wealth. Without them, there will be less and less wealth for Obama to redistribute.
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