Hannan: What free-marketeers in fact advocate is not trickle-down, but trickle-up. The way to become rich, in a competitive economy, is to offer a service to the broad mass of consumers. I am typing these words using software that I bought from Bill Gates. The transaction enriched him – adding fractionally to his net wealth – but it also enriched me, making my life more convenient. Bill Gates became wealthy, in other words, by persuading a great many poorer people to buy something from him. In doing so, he made us considerably better off, too. Trickle-up, you see.
Posted on: Wed, 07 Jan 2015 16:21:43 +0000
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