“Trickle-down Economics” is a reasonable economic system if your primary means of communication is sending letters on horseback.
The premise of trickle-down economics is a Patron system.
Wealthy individuals and families living in a small geographic area shepherd the economics of a township. Because the financial system is complex, risky, and open to fraud, it requires specialized training - like a mechanic or doctor.
These banking families would organize the local economy based on their personal values, make judgments about which businesses should be loaned money, and generally put the puzzle pieces together.
Favoritism, nepotism, cronyism, racism, and a host of other problems and abuses sometimes ensued, but but they had to make it work. It had to work for most of the people most of the time, and it had to fit into a fabric of neighboring townships. “Buy Local” is part of trickle-down economics.
If it didn’t work, there would be riots, lynchings, and generally hell to pay. The economy needed to work well enough to keep the peace.
The telegraph and railroads changed all that. The economy was no longer a local township, but up and down the railroads and organized by the telegraph.
Suddenly factories could produce cheap goods from cheap labor, and railroads could deliver those goods at prices lower than could be made locally.
The railroad could bring mass market goods cheap, decide what raw material your trainstop was good for, then savage the local economy by manipulating the prices of what got on and off the train. There is a reason the US abandoned the train system for long haul trucking. Trucking is more flexible, more competitive, and harder to monopolize.
Suddenly Industrialists, backed by banks could extract money from communities.
Where Trickle-Down Bankers had to farm value, Industrialists could strip-mine it.
The more interconnected our economy is, the faster economic super-predators have evolved. If you’re wondering why no one went to jail in the mortgage crisis - it’s because the US Government is prey, not predator in our modern economy.
The Union movement in the United States formed as a reaction to industrialists, and worked great until globalization. It is cheaper to build something on the other side of the planet than to build it next door.
Trickle-Down Economics is bringing a buggy-whip to a gun-fight. Feeling like a Patron feels great, but it doesn’t actually create a stable economy for the people living inside it.
This is weird because we’re inventing new manufacturing and construction techniques. Printing 3d objects, printing 3d buildings with cement - yet it’s easier to buy things made in China via Amazon.
Why not community makerspaces for creating the objects we need locally? Because they don’t strip-mine value.