Your Daily Bit of Wall Street Wit & Wisdom

JFK and Galbraith

Galbraith, first at left, US Ambassador to India, 1961 h/t jfklibrary.org

“Trickle-down theory – the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows.”

— John Kenneth Galbraith

With tax and economic policy in the news, it’s a good time to recall the famed economist’s apt description of the upper crust’s favored supply-side theory.

Enjoy your Sunday!

Best regards,

Steve

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