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Growth, Inequality and Negative Trickle Down

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  • Daphne Greenwood
  • Richard Holt

Abstract

Neoliberal theory rationalizes inequality as both 1) necessary for growth and 2) offset by a trickle down to lower income groups. However, benefits from income growth failed to reach most of the population for the last several decades in the United States. Instead, a negative trickle down has lowered many people's wellbeing. The first aspect of negative trickle down is a new form of Veblen's conspicuous consumption with positional goods. The second is the effect on the provision of public goods. The third is the competition for limited resources, such as housing. We review how greater income inequality contributes to each.

Suggested Citation

  • Daphne Greenwood & Richard Holt, 2010. "Growth, Inequality and Negative Trickle Down," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(2), pages 403-410.
    • Handle: RePEc:mes:jeciss:v:44:y:2010:i:2:p:403-410
    DOI: 10.2753/JEI0021-3624440212
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    Cited by:

    1. Hongwei Dong & J Andy Hansz, 2019. "Zoning, density, and rising housing prices: A case study in Portland, Oregon," Urban Studies, Urban Studies Journal Limited, vol. 56(16), pages 3486-3503, December.
    2. Juhro, Solikin M. & Syarifuddin, Ferry & Sakti, Ali, 2022. "Inclusive Welfare: On The Role of Islamic Public-Social Finance and Monetary Economics," MPRA Paper 113788, University Library of Munich, Germany.
    3. Ari-Veikko Anttiroiko, 2016. "City-as-a-Platform: The Rise of Participatory Innovation Platforms in Finnish Cities," Sustainability, MDPI, vol. 8(9), pages 1-31, September.
    4. Dan Luo & Feifan Wang & Yue Gu & Jiamin Lv, 2024. "How Does Digital Finance Contribute to Sustainable Wealth Growth: Perspective from Residents’ Income," Sustainability, MDPI, vol. 16(18), pages 1-24, September.
    5. Merter Akinci, 2018. "Inequality and economic growth: Trickle†down effect revisited," Development Policy Review, Overseas Development Institute, vol. 36(S1), pages 1-24, March.
    6. Hongwei Dong, 2018. "The impact of income inequality on rental affordability: An empirical study in large American metropolitan areas," Urban Studies, Urban Studies Journal Limited, vol. 55(10), pages 2106-2122, August.

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