Download or read book What Is Trickle-Up Economics, How Trickle-Up Economics Can Increase Economic Growth In The Economy, And How The Economy Can Become A Trickle-Up Economy written by Dr. Harrison Sachs and published by The Epic Books Of Dr. Harrison Sachs. This book was released on 2019-11-15 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay sheds light on what is trickle-up economics, explicates how trickle-up economics can increase economic growth in the economy, and expounds upon how the economy can become a trickle-up economy. Trickle-up economics is an economic theory that has efficacy for creating the requisite economic conditions for amplifying economic growth in the economy in the long haul. The trickle-up theory contends that economic policies that are configured to favor the low-income economic class will culminate in benefiting everyone else. Economic policies that are configured to favor the low-income economic class can help real private sector employers to reduce their employee attrition rate. Furthermore, economic policies that are configured to favor the low-income economic class can also help real private sector employers to decrease their employee onboarding costs if they do not need to hire new employees to fulfill the positions that their current real private sector employees who have already been onboarded into the employer’s company are able to continue to fulfill for years on end. Moreover, economic policies that are configured to favor the low-income economic class can also help real private sector employers to reduce their employee training costs if they do not need to hire new employees to fulfill the positions that their current real private sector employees who have already been trained to fulfill are able to continue to fulfill for years on end. Economic policies that are configured to favor the low-income economic class can also help real private sector employers to decrease the size of their human resources department if they do not need to hire new employees to fulfill the positions that their current real private sector employees who have already been onboarded the employer’s company are able to continue to fulfill for years on end. Even though trickle-up economics is an economic theory that has efficacy for creating the requisite economic conditions for amplifying economic growth in the economy in the long haul, it is nonetheless perceived unfavorably by companies and the members of the ultra-wealthy economic class. Economic policies that are configured to favor the low-income economic class do not help companies to minimize their labor costs. Furthermore, economic policies that are configured to favor the low-income economic class do not help companies to be able to maximize the compensations of their executives in the short haul, do not help companies to be able to furnish sizeable retainer fees to their external directors in the short haul, and do not help companies to be able to maximize the wealth of their shareholders in the short haul when they are unable to minimize their labor costs. Almost all of the profits that companies generate are reserved for its executives and shareholders. The members of the ultra-wealthy economic class as an aggregate are the majority shareholders of publicly traded companies. Most companies are keen on minimizing their labor costs at all costs. It is less cumbersome for companies to be able to furnish massive compensations to their executives when they are able to minimize their labor costs. Furthermore, it is also less arduous for companies to be able to furnish sizeable retainer fees to their external directors when they are able to minimize their labor costs. Moreover, it is also less cumbersome for companies to be able to maximize the wealth of their shareholders when they are able to minimize their labor costs. There are a myriad of economic policies that can be configured to favor the low-income economic class which are perceived unfavorably by companies. The economic policies can vary from jurisdiction to jurisdiction. Some economic policies that can be configured to favor the low-income economic class encompass the minimum wage being a livable wage, real private sector employers being required to offer “a defined benefit pension plan” to their real private sector employees, real private sector employers being required to offer a 401(k) plan to their real private sector employees, real private sector employers being required to offer paid time off to their real private sector employees, real private sector employers being required to offer paid vacation days to their real private sector employees, and real private sector employers being required to offer paid breaks to their real private sector employees.