<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0124-5996</journal-id>
<journal-title><![CDATA[Revista de Economía Institucional]]></journal-title>
<abbrev-journal-title><![CDATA[Rev.econ.inst.]]></abbrev-journal-title>
<issn>0124-5996</issn>
<publisher>
<publisher-name><![CDATA[Universidad Externado de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0124-59962023000100003</article-id>
<article-id pub-id-type="doi">10.18601/01245996.v25n48.02</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[La economía del goteo]]></article-title>
<article-title xml:lang="en"><![CDATA[The trickle-down economics]]></article-title>
<article-title xml:lang="pt"><![CDATA[Economia de gotejamento]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Roberts]]></surname>
<given-names><![CDATA[Michael]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Ha trabajado como analista económico  ]]></institution>
<addr-line><![CDATA[Londres ]]></addr-line>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<volume>25</volume>
<numero>48</numero>
<fpage>3</fpage>
<lpage>11</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0124-59962023000100003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0124-59962023000100003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0124-59962023000100003&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo critica la política económica promovida por el gobierno del Reino Unido bajo la primera ministra Liz Truss. Según la interpretación convencional, el estancamiento y la crisis de productividad de la economía inglesa obedecen a la carga tributaria excesiva de las grandes corporaciones y la presión fiscal sobre el 1% más rico. Si se redujeran tales obligaciones tributarias, aumentaría la rentabilidad de la inversión, la demanda y la tasa de crecimiento. Lo que se traduciría en mejores ingresos y mayores niveles de empleo. Esta historia se fundamenta en la curva de Laffer y asociada a la hipótesis del "goteo", falseadas por la evidencia empírica. Las reducciones de impuestos a los más ricos desmejoran la distribución del ingreso, y no elevan el ni el empleo. La causa y el efecto son de las ganancias a la inversión y al crecimiento; no del gasto a las ganancias y al crecimiento. JEL: P24, P34, 935]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper criticizes the supply-side economic policy promoted by the UK government under Prime Minister Liz Truss. According to the conventional interpretation, the stagnation and productivity crisis in the UK economy is due to the excessive tax burden on large corporations and the tax burden on the richest 1%. If these tax liabilities were reduced, it would increase the profitability of investment, demand and the rate of growth. This would translate into better incomes and higher levels of employment. This story is based on the Laffer curve and associated with the "trickle down" hypothesis, falsified by empirical evidence. Tax reductions for the richest people worsen the distribution of income, and do not raise income or employment. The cause and effect is from profits to investment and growth; not from spending to profits and growth. JEL: P24, P34, 935]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este artigo critica a política econômica do lado da oferta promovida pelo governo britânico sob a liderança da primeira-ministra Liz Truss. De acordo com a interpretação convencional, a estagnação e a crise de produtividade na economia britânica se deve à excessiva carga tributária sobre as grandes corporações e à carga tributária sobre os 1% mais ricos. A redução desses passivos fiscais aumentaria a rentabilidade dos investimentos, a demanda e a taxa de crescimento. Isso se traduziria em melhores rendimentos e níveis mais altos de emprego. Esta história é baseada na curva de Laffer e na hipótese do "gotejamento" associada, que é falsificada por evidências empíricas. Os cortes fiscais para os mais ricos pioram a distribuição de renda, e não aumentam a renda ou o emprego. A causa e o efeito é dos lucros para o investimento e o crescimento; não dos gastos para os lucros e o crescimento. JEL: P24, P34, 935]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Goteo]]></kwd>
<kwd lng="es"><![CDATA[bases impositivas]]></kwd>
<kwd lng="es"><![CDATA[carga tributaria]]></kwd>
<kwd lng="en"><![CDATA[trickle]]></kwd>
<kwd lng="en"><![CDATA[tax bases]]></kwd>
<kwd lng="en"><![CDATA[tax burden]]></kwd>
<kwd lng="pt"><![CDATA[gotejamento]]></kwd>
<kwd lng="pt"><![CDATA[bases tributárias]]></kwd>
<kwd lng="pt"><![CDATA[carga tributária]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Dabla]]></surname>
<given-names><![CDATA[N.]]></given-names>
</name>
<name>
<surname><![CDATA[Kochar]]></surname>
<given-names><![CDATA[K.]]></given-names>
</name>
</person-group>
<source><![CDATA[Causes and consequences of income inequality: A global perspective]]></source>
<year>2015</year>
<publisher-name><![CDATA[IMF]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Henry]]></surname>
<given-names><![CDATA[J. S.]]></given-names>
</name>
</person-group>
<source><![CDATA[The price of offshore revisited]]></source>
<year>2012</year>
<publisher-name><![CDATA[Tax Justice Network]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="confpro">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hope]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Limberg]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<source><![CDATA[The economic consequences of major tax cuts for the rich]]></source>
<year>2020</year>
<conf-name><![CDATA[ International Inequalities, 55]]></conf-name>
<conf-loc> </conf-loc>
<publisher-loc><![CDATA[Londres ]]></publisher-loc>
<publisher-name><![CDATA[LSE]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="confpro">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hungerford]]></surname>
<given-names><![CDATA[T. L.]]></given-names>
</name>
</person-group>
<source><![CDATA[Taxes and the economy: An economic analysis of the top tax rates since 1945 (updated)]]></source>
<year>2012</year>
<conf-name><![CDATA[ Report for Congress]]></conf-name>
<conf-loc> </conf-loc>
</nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The means to prosperity]]></article-title>
<source><![CDATA[Essays on persuasion]]></source>
<year>1933</year>
<volume>IX</volume>
<page-range>335-66</page-range><publisher-loc><![CDATA[Macmillan ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Sinclair]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<source><![CDATA[Let them eat carbon: the price of failing climate change policies, and how governments and big business profit from them]]></source>
<year>2012</year>
<publisher-loc><![CDATA[Hull UK ]]></publisher-loc>
<publisher-name><![CDATA[Bitebkack Publishing]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Sowell]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The 'trickle-down' lie]]></article-title>
<source><![CDATA[Townhall]]></source>
<year>2014</year>
</nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Zidar]]></surname>
<given-names><![CDATA[O.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Tax cuts for whom? Heterogeneous effects of income tax changes on growth and employment]]></article-title>
<source><![CDATA[Journal of Political Economy]]></source>
<year>2019</year>
<volume>127</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>1437-72</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
