I had a vague idea of bread crumbs falling off the table of the 'lords' to be consumed by the 'populace'.
My idea was : someone buys a multi-million Yacht, well they need a captain, cook and other staff to maintain their ship. The wealth (from buying a luxury item) trickles down to the employees. Of course, this was a simple intuition and the idea had no formal definition for me.
> Years ago, this column challenged anybody to quote any economist outside of an insane asylum who had ever advocated this "trickle-down" theory. Some readers said that somebody said that somebody else had advocated a "trickle-down" policy. But they could never name that somebody else and quote them.
https://www.creators.com/read/thomas-sowell/01/14/the-trickl...
No, but plenty of economists have used the phrases "supply-side economics" and "Laffer Curve" to discuss (and advocate) the policies that "trickle down" was coined to disparage.
It should be taken as seriously as if a physics PhD tried to persuade your state that it should use solar power to convert lead into gold.
That’s pretty much the idea of supply side and “trickle down“ economics. People with capital are the most important players. People who do the work are not important and replaceable.