I came across a very thought-provoking quote by JK Galbraith concerning supply-side economics. The quote is as follows:
The poor don't work because they have too much money. The rich don't work because they don't have enough money. If you believe that, you'll believe anything. -- J.K. Galbraith
With famous titles like: The Affluent Society, Galbraith was a expert in economics. Also he is very witty, and between these qualities I'm having a hard time connecting the dots for myself. I'm not sure how much of his explanation/comment is sarcasm and how much is genuine.
Question: Is there any notion/assumption/principle in supply-side economics that could legitimately be alluded to in Galbraith's remark here?
In other words, he must have phrased it this way for a reason; and let's not forget, this is in the context of supply-side economics. So by juxtaposing these false statements with our intuitive understanding of supply and demand, it's as though he's mocking that school of thought. So what is the original concept of the supply-side school of thought that he his mocking?
Surely there is something he thought was paradoxical in supply-side theory that made him say this comment.