Hello! The pranksters at RTBC have got a joke about trickle-down economics.…99% of people won't get it...
This week as Liz Truss prepares to exit we’re talking about the economic philosophy that characterised her reign: supply-side or trickle-down economics—and its alternative: so-called middle-out economics.The latter is the idea that investing in the broad middle to help people become more secure and prosperous can lead to more economic growth. But is it really that simple?
We talk to Professor Sue Himmelweit about the origins of trickle-down, to Nick Hanauer, one of the inventors of the term middle-out, and to Juha Leppänen about Finland's model of economic success.
Plus: Ed reflects on whether the frack got Liz the sack.
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Guests
Sue Himmelweit, emeritus professor, the Open University and member, Women's Budget Group (@suehimmelweit)(@womensbudgetgrp)
Nick Hanauer, author, venture capitalist and founder of Civic Ventures (@NickHanauer)
Juha Leppänen, CEO, Demos Helsinki (@juhaleppanen) (@demoshelsinki)
More info
Forget trickle down, what the UK needs is middle-out economics (The Guardian)
A brief history of middle-out economics(Pitchfork Economics)
Is middle-out Biden's new deal(Democracy)
Listen to Nick's weekly podcast, Pitchfork Economics
Read 100 Social Innovations from Finland, Ilkka Taipale
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