A rising tide lifts all boats

A rising tide lifts all boats

The aphorism "a rising tide lifts all boats" is associated with the idea that improvements in the general economy will benefit all participants in that economy, and that economic policy, particularly government economic policy, should therefore focus on the general macroeconomic environment first and foremost. The phrase is said to have been coined by Seán Lemass, the Irish Taoiseach (Prime Minister) in 1959–1966.cite web |url=http://www.transport.ie/viewitem.asp?id=7015&lang=ENG&loc=1081
title=Speech by Martin Cullen TD, Minister for Transport at the South East 2020 Conference
date=24 June 2005|publisher=Department of Transport, Ireland
] cite web|url=http://debates.oireachtas.ie/DDebate.aspx?F=SEN20051207.xml&Node=457
title=Speech by Mr. Callanan
work=Seanad Debates, Vol. 182, No. 4|date=7 December 2005
publisher=Office of the Houses of the Oireachtas
] Lemass himself attributed the phrase to John F. Kennedy.cite web|accessdate=2008-08-13 |url=http://www.oireachtas-debates.gov.ie/D/0208/D.0208.196404150045.html |title=Speech by Mr. Lemass |work=Dáil debates, Vol 208 |date=15 April 1964 |publisher=Office of the Houses of the Oireachtas] Kennedy employed the expression to combat criticisms that his tax cuts would benefit mostly wealthy individuals.cite web|accessdate=2007-04-07
title=Remarks in Heber Springs, Arkansas, at the Dedication of Greers Ferry Dam.
author=John F. Kennedy|date=October 3, 1963
publisher=The American Presidency Project
] cite news|accessdate=2007-04-07
title=How to Refloat These Boats
author=Gene Sperling
work=Washington Post |date=December 18, 2005 |page=Page B03
] cite web|accessdate=2007-04-07
title= A Rising Tide...In More Ways than One:The wisdom of the JFK-Reagan-Bush tax-cut model
author=Thomas E. Nugent
work=National Review Online |date=July 28, 2006

The expression also applies to free-market policies, in that comparative-advantage production and subsequent trade would theoretically increase incomes for all participating entities. It is a favorite proverb of former U.S. Treasury Secretary Robert Rubin.

The substantive aspect of the statement is that economic growth which raises the GDP of the entire economy will also raise the incomes of "all" of the individuals within the economy. However, not all industries track the overall economy, and the creative destruction process of capitalism requires inefficient industries to yield to more efficient industries. For the aphorism to be strictly true, one would never expect to see a 'going out of business' sign during a rising economy. There many examples in economic history in which an increase in GDP per capita did not raise the incomes of large groups of individuals in the society. According to the US Census, the real per-capita GDP in the United States increased by 71% between 1980 and 2006, but median household income increased by less than 20% Fact|date=May 2008.

See also

* Keynesian economics
* Supply-side economics
* Trickle-down economics


External links

* Hines, James R., Hilary W. Hoynes, and Alan B. Krueger. [http://www.nber.org/papers/w8412 "Another Look at Whether a Rising Tide Lifts All Boats"] , National Bureau of Economic Research: NBER Working Paper No. 8412, August 2001.

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См. также в других словарях:

  • a rising tide lifts all boats — Principally known in the United States, this is one of several proverbs popularized by the Kennedy family. It is generally used in economic contexts, the tide being that of prosperity. 1963 J. F. KENNEDY Address 25 June in Public Papers of… …   Proverbs new dictionary

  • a rising tide lifts all boats — This idiom, coined by John F Kennedy, describes the idea that when an economy is performing well, all people will benefit from it …   The small dictionary of idiomes

  • a rising tide lifts all boats —    This idiom, coined by John F Kennedy, describes the idea that when an economy is performing well, all people will benefit from it.   (Dorking School Dictionary) …   English Idioms & idiomatic expressions

  • all — see all good things must come to an end it takes all sorts to make a world all things are possible with God all things come to those who wait all’s for the best in the best of all possible worlds all cats are grey in the dark …   Proverbs new dictionary

  • tide — see a rising tide lifts all boats time and tide wait for no man …   Proverbs new dictionary

  • rising — see a rising tide lifts all boats …   Proverbs new dictionary

  • Seán Lemass — Infobox Prime Minister name = Seán Lemass small office = Taoiseach term start = 23 June 1959 term end = 10 November 1966 president = Éamon de Valera 1blankname = Tánaiste 1namedata = Seán MacEntee (1959–1965) Frank Aiken (1965–1966) predecessor …   Wikipedia

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  • Wealth concentration — Wealth Concentration, also known as wealth condensation, is a process by which, in certain conditions, newly created wealth tends to become concentrated in the possession of already wealthy individuals or entities, a form of preferential… …   Wikipedia

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