The dirty secret of capitalism — and a new way forward | Nick Hanauer

The dirty secret of capitalism — and a new way forward | Nick Hanauer


I am a capitalist, and after a 30-year career in capitalism spanning three dozen companies, generating tens of billions
of dollars in market value, I’m not just in the top one percent,
I’m in the top .01 percent of all earners. Today, I have come
to share the secrets of our success, because rich capitalists like me
have never been richer. So the question is, how do we do it? How do we manage to grab an ever-increasing share
of the economic pie every year? Is it that rich people are smarter
than we were 30 years ago? Is it that we’re working harder
than we once did? Are we taller, better looking? Sadly, no. It all comes down to just one thing: economics. Because, here’s the dirty secret. There was a time
in which the economics profession worked in the public interest, but in the neoliberal era, today, they work only for big corporations and billionaires, and that is creating
a little bit of a problem. We could choose to enact economic policies that raise taxes on the rich, regulate powerful corporations
or raise wages for workers. We have done it before. But neoliberal economists would warn that all of these policies
would be a terrible mistake, because raising taxes
always kills economic growth, and any form of government regulation is inefficient, and raising wages always kills jobs. Well, as a consequence of that thinking, over the last 30 years, in the USA alone, the top one percent has grown
21 trillion dollars richer while the bottom 50 percent
have grown 900 billion dollars poorer, a pattern of widening inequality
that has largely repeated itself across the world. And yet, as middle class families
struggle to get by on wages that have not budged
in about 40 years, neoliberal economists continue to warn
that the only reasonable response to the painful dislocations
of austerity and globalization is even more austerity and globalization. So, what is a society to do? Well, it’s super clear to me
what we need to do. We need a new economics. So, economics has been described
as the dismal science, and for good reason,
because as much as it is taught today, it isn’t a science at all, in spite of all
of the dazzling mathematics. In fact, a growing number
of academics and practitioners have concluded that neoliberal
economic theory is dangerously wrong and that today’s growing crises
of rising inequality and growing political instability are the direct result
of decades of bad economic theory. What we now know is that the economics
that made me so rich isn’t just wrong, it’s backwards, because it turns out it isn’t capital
that creates economic growth, it’s people; and it isn’t self-interest
that promotes the public good, it’s reciprocity; and it isn’t competition
that produces our prosperity, it’s cooperation. What we can now see is that an economics
that is neither just nor inclusive can never sustain the high levels
of social cooperation necessary to enable
a modern society to thrive. So where did we go wrong? Well, it turns out
that it’s become painfully obvious that the fundamental assumptions
that undergird neoliberal economic theory are just objectively false, and so today first I want to take you
through some of those mistaken assumptions and then after describe where the science
suggests prosperity actually comes from. So, neoliberal economic
assumption number one is that the market is
an efficient equilibrium system, which basically means that if one thing
in the economy, like wages, goes up, another thing in the economy,
like jobs, must go down. So for example, in Seattle, where I live, when in 2014 we passed
our nation’s first 15 dollar minimum wage, the neoliberals freaked out
over their precious equilibrium. “If you raise the price
of labor,” they warned, “businesses will purchase less of it. Thousands of low-wage workers
will lose their jobs. The restaurants will close.” Except … they didn’t. The unemployment rate fell dramatically. The restaurant business in Seattle boomed. Why? Because there is no equilibrium. Because raising wages
doesn’t kill jobs, it creates them; because, for instance, when restaurant owners are suddenly
required to pay restaurant workers enough so that now even they
can afford to eat in restaurants, it doesn’t shrink the restaurant business, it grows it, obviously. (Applause) Thank you. The second assumption is that the price of something
is always equal to its value, which basically means
that if you earn 50,000 dollars a year and I earn 50 million dollars a year, that’s because I produce
a thousand times as much value as you. Now, it will not surprise you to learn that this is a very comforting assumption if you’re a CEO paying yourself
50 million dollars a year but paying your workers poverty wages. But please, take it from somebody
who has run dozens of businesses: this is nonsense. People are not paid what they are worth. They are paid what they have
the power to negotiate, and wages’ falling share of GDP is not because workers
have become less productive but because employers
have become more powerful. And — (Applause) And by pretending that the giant imbalance
in power between capital and labor doesn’t exist, neoliberal economic theory
became essentially a protection racket for the rich. The third assumption,
and by far the most pernicious, is a behavioral model that describes human beings
as something called “homo economicus,” which basically means
that we are all perfectly selfish, perfectly rational
and relentlessly self-maximizing. But just ask yourselves, is it plausible that every single time
for your entire life, when you did something
nice for somebody else, all you were doing
was maximizing your own utility? Is it plausible that when a soldier jumps
on a grenade to defend fellow soldiers, they’re just promoting
their narrow self-interest? If you think that’s nuts, contrary to any reasonable
moral intuition, that’s because it is and, according to the latest science, not true. But it is this behavioral model which is at the cold, cruel heart
of neoliberal economics, and it is as morally corrosive as it is scientifically wrong because, if we accept at face value that humans are fundamentally selfish, and then we look around the world at all of the unambiguous
prosperity in it, then it follows logically, then it must be true by definition, that billions of individual
acts of selfishness magically transubstantiate
into prosperity and the common good. If we humans are merely
selfish maximizers, then selfishness
is the cause of our prosperity. Under this economic logic, greed is good, widening inequality is efficient, and the only purpose of the corporation can be to enrich shareholders, because to do otherwise
would be to slow economic growth and harm the economy overall. And it is this gospel of selfishness which forms the ideological cornerstone
of neoliberal economics, a way of thinking
which has produced economic policies which have enabled me and my rich buddies
in the top one percent to grab virtually all of the benefits
of growth over the last 40 years. But, if instead we accept the latest empirical research, real science, which correctly
describes human beings as highly cooperative, reciprocal and intuitively moral creatures, then it follows logically that it must be cooperation and not selfishness that is the cause of our prosperity, and it isn’t our self-interest but rather our inherent reciprocity that is humanity’s economic superpower. So at the heart of this new economics is a story about ourselves that grants us
permission to be our best selves, and, unlike the old economics, this is a story that is virtuous and also has the virtue of being true. Now, I want to emphasize
that this new economics is not something I have personally
imagined or invented. Its theories and models
are being developed and refined in universities around the world building on some of the best
new research in economics, complexity theory, evolutionary theory, psychology, anthropology
and other disciplines. And although this new economics
does not yet have its own textbook or even a commonly agreed upon name, in broad strokes its explanation of where prosperity
comes from goes something like this. So, market capitalism
is an evolutionary system in which prosperity emerges through a positive feedback loop between increasing amounts of innovation
and increasing amounts of consumer demand. Innovation is the process
by which we solve human problems, consumer demand is the mechanism
through which the market selects for useful innovations, and as we solve more problems,
we become more prosperous. But as we become more prosperous, our problems and solutions become more complex, and this increasing technical complexity requires ever higher levels
of social and economic cooperation in order to produce
the more highly specialized products that define a modern economy. Now, the old economics
is correct, of course, that competition plays a crucial role
in how markets work, but what it fails to see is that it is largely a competition
between highly cooperative groups — competition between firms,
competition between networks of firms, competition between nations — and anyone who has ever run
a successful business knows that building a cooperative team
by including the talents of everyone is almost always a better strategy
than just a bunch of selfish jerks. So how do we leave neoliberalism behind and build a more sustainable,
more prosperous and more equitable society? The new economics suggests
just five rules of thumb. First is that successful economies
are not jungles, they’re gardens, which is to say that markets, like gardens, must be tended, that the market is the greatest
social technology ever invented for solving human problems, but unconstrained by social norms
or democratic regulation, markets inevitably create
more problems than they solve. Climate change, the great financial crisis of 2008 are two easy examples. The second rule is that inclusion creates economic growth. So the neoliberal idea that inclusion is this fancy luxury to be afforded if and when we have growth
is both wrong and backwards. The economy is people. Including more people in more ways is what causes economic growth
in market economies. The third principle is the purpose of the corporation
is not merely to enrich shareholders. The greatest grift
in contemporary economic life is the neoliberal idea that
the only purpose of the corporation and the only responsibility of executives is to enrich themselves and shareholders. The new economics must and can insist that the purpose of the corporation is to improve the welfare
of all stakeholders: customers, workers, community and shareholders alike. Rule four: greed is not good. Being rapacious
doesn’t make you a capitalist, it makes you a sociopath. (Laughter) (Applause) And in an economy as dependent
upon cooperation at scale as ours, sociopathy is as bad for business
as it is for society. And fifth and finally, unlike the laws of physics, the laws of economics are a choice. Now, neoliberal economic theory has sold itself to you
as unchangeable natural law, when in fact it’s social norms
and constructed narratives based on pseudoscience. If we truly want a more equitable, more prosperous
and more sustainable economy, if we want high-functioning democracies and civil society, we must have a new economics. And here’s the good news: if we want a new economics, all we have to do is choose to have it. Thank you. (Applause) Moderator: So Nick,
I’m sure you get this question a lot. If you’re so unhappy
with the economic system, why not just give all your money away
and join the 99 percent? Nick Hanauer: Yeah, no, yes, right. You get that a lot. You get that a lot. “If you care so much about taxes,
why don’t you pay more, and if you care so much about wages,
why don’t you pay more?” And I could do that. The problem is, it doesn’t make that much difference, and I have discovered a strategy that works literally
a hundred thousand times better — Moderator: OK. NH: which is to use my money
to build narratives and to pass laws that will require
all the other rich people to pay taxes and pay their workers better. (Applause) And so, for example, the 15-dollar minimum wage
that we cooked up has now affected 30 million workers. So that works better. Moderator: That’s great. If you change your mind,
we’ll find some takers for you. NH: OK. Thank you.
Moderator: Thank you very much.

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About the Author: Oren Garnes

100 Comments

  1. "Workers are not paid what they are worth, they are paid what they can negotiate" Workers unite! Join unions and become strong!

  2. At the very end of this clip, he admits that he is behind the push for $15 minimum wage.. any true business person would know that a $15 minimum wage will destroy smaller businesses. Obviously, if this guy is a power player and is really really rich oh, then he knows this very well! And if he knows this, yet he still pushing it like it is a good thing oh, then it just shows he is as much of a problem as the rest of the staunch capitalist, nay, globalists.

    Then at the end he gets a standing ovation… these people have never studied economics apparently, and even though I didn't major in economics, I'm aware enough to know that the very idea of minimum wage creates far more societal issues than it solves. Sure, it sounds like his heart is in the right place, but the devil is always in the details…

  3. 5:20 mister they DID lose income because all the informal jobs and lower income jobs got work hours reduced, so you are just telling half of the info

  4. Need a little help in choosing my way through this jungle and where do you draw the line as far as being a rich sociopath/ normal person

  5. Word salad . 17 minutes I will not be getting back .

    You're awful ,
    your ideas are awful ,
    you should feel awful .

    You did not address the 22 trillion pound gorilla in the room that is the largest fraud the world has ever known .
    Yet it is central to your modeling .

    Throw away your " progress" , go back to the drawing board and draw something that doesn't have a Collective Fraud baked into it's existence .

    Central banking is 100% fraud , 100% of the time .

  6. This is a good intro. Where is the meat? How do we “choose to have it”? What does that look like in our daily lives? Also, a bigger minimum wage means less hours worked for my husband. The employers need to cut those corners so now folks where we live on higher hourly wages can’t get full time work – pretty much only part time, but companies want you to stay ‘on call’ and won’t adhere to a set schedule for you so you can’t get another job easily – they want all your devotion to them, but aren’t willing to give you the hours required to get it. Thanks, anyway. We live in the less percent. Maybe your metrics are being viewed through some rose colored glasses.

  7. I've shared this video with my nearly 5000 Facebook friends and they are starting to share it now. These are things many of us have known for years. We just could not verbalize it so eloquently.

  8. reforms will always be reversed in a capitalist economy. system change is the answer, and it needs to happen worldwide (which, yes, is more complicated to overcome as a globalized economy).. for starters, check out "Richard Wolff: Democracy at Work – A Cure for Capitalism" google talk..if it captures your interest, start reading into different theories of economics that they unfortunately refuse to teach in school (because of generations of, hate to say it, brainwashing; and the threat it poses to powerful people hoarding disgusting amounts of wealth that THEY did not earn).

  9. Nick loses 100pct of his credibility when he perpetuates the lie about the “bottom getting poorer”. Plain wrong and intentionally lies!!

  10. Only crap, he is using Seattle as an example. They are the poster child against minimum wage laws !! It is a fact that workers lost!

  11. Am I wrong? Capitalism robs the consumer! You cannot make a profit without someone making a loss . So who looses? The workers that manufacture the goods through wage slavery , Selling their labor for less than it,s actual worth and the consumer for paying more than the actual value of a product. Whilst the doofers that call the shots take all the money! We will realize some day and march them to the gallows!

  12. First, you're referring to CRONY capitalism, not free market capitalism. Second, this "new way forward" of yours is anything but new. It has been implemented by corrupt governments throughout history and has NEVER give any nation the level of prosperity that the US has enjoyed. And no, this system does not JUST benefit the corporations and billionaires. It benefits anyone who fights to overcome their circumstances and better themselves – which, by the way, describes the majority of billionaires and especially millionaires. Just look at how many first-generation millionaires are currently in our nation. And I can't believe that you're trying to claim in 2019 that wages haven't budged in 40 years. I would've expected better of you. And to actually blame our political instability on bad economic policies is an absolute joke.

  13. Where can a Ferrari dealership sell the most Ferraris? A: Wherever there's a lot of people who can afford one. If you can positively effect your environment as a company it will benefit you twice as much as just making use of its deficits.

  14. Flowers and ‘weed’ and weeds grow in gardens, along with the energy and nutrient providing veggies!
    The economics of today is composed of the same. Besides the corporations that produce essential products for the lowest rung on Maslow’s hierarchy, there are corporations that are producing nice-to-have products and services – flowers, corporations that are strictly for entertainment value – ‘weed’, and the ‘casino type’ corporations that mainly profit without productivity – weeds. The non-essential corporations need to be taxed at a much higher rate than those that provide essentials. The casino corps – gaming financial futures, profit without productivity, or essential service are the basis for the much needed economic reforms proposed.
    Free market capitalism will not change, by changing a few human fabricated economic rules, if the weeds are not pulled out. Economic change will take a major overhaul. For instance, ‘How does one protect retirement investment, when a portion of savings are invested in ‘casino’ corporations?’
    A revamping in multiple aspects of economics, and in every humans cultural thinking about free market capitalism, and in the antiquated aspects of rule of law, associated with western democracy, require a thorough rethinking.

  15. Well, facts still say otherwise, e.g. if you raise the minimum wage, you are getting fewer job opportunities… Sounds like a fabian socialist (yes, they have loads of money) but on the other hand, it is always interesting to hear a different point of view, especially from some who qualifies as successful.

  16. Except restaurants in Seattle closed and people were laid off and even MicroSoft moved to just outside it's borders. Look at the map, look at the landscape, look at reality. This guy is full of it. Rich and stupid.

  17. Neoliberal does not refer to the left. It refers more so to an ideology of laissez-faire economics with free trade and deregulation, which is more of a Republican thing than a Democratic thing. When you hear the term "neoliberal" you should think of Republicans.

  18. Read Adam Smith's works, you know the guy who has been abused for the "invisible hand of the marketplace", he said this back in the late 1700's!

  19. Excelente presentation, complex socioeconomic political system explained in very accessible way.
    Thank you very much and I am not going to ask you to give up your position or money, we need people like you inside that neoliberal system.to denouncing the awful selfishness and greed.

  20. Ok say that to the 270 restaurants that closed after they did the same thing in NYC as soon as they raised it to $15 an hour

  21. So he's a lobbyist for the Democratic party. If all the Democrats in his circle are on board, why not just get it done with all of your corporations? Need those regulations on the other side of the aisle for what reason?

  22. This new economic system sounds amazing. Almost like I've heard these ideas before. I think it was in a book. "The Capital" or something. Maybe it was in German.

  23. As an econmist. What a convoluted utter confusion exist in his mind, Or even worse he is aware of the absurdity and still tells people what they want to hear.

  24. Just call it the model T mentality, if my employees can afford what I make then we all prosper.
    So…. if Ford, GM and VW pay 💰 their workers enough to buy their cars 🚗 and trucks then America and Germany 🇩🇪 prospers. What about food 🥘 workers and other trades, this effects all and all prospers

  25. If you ask most people if they love their job privately with out consequences the would all say they would rather be fishing 🎣 or building something that really matters to help humanity

  26. The dirty secret? Simple. Mercantilism is not Laissez faire Capitalism.
    When government has an armed-coercive monopoly on 'legal' currency you do not have a free market system.

  27. Here in Brazil we are doing that and guess what, the country is a mess. By doing that you just concentrate power in politicians and that's much worse. Believe me.

  28. Honestly, I’m not a Capitalist at all. It is EXTREMELY similar to slavery, and it’s been sold as a reward for those who work hardest…tell me how Warren Buffet works harder than any plumber or electrician? Capitalism is precisely so people can get unreasonably wealthy off of OTHER people’s hard work….slavery

  29. This better economic system has been named, it’s call a Resource Based Economy. You can learn about it at www.resourcebasedeconomy.org and www.thevenusproject.com

  30. Completely negating the fact that 'Capitalism' isn't what we have. Not for a long time now. The .01% is benefiting from the collusion of corporations influencing politics. Otherwise known as Corporatism or Fascism. Nothing could be more 'anti-capitalist' than hamstringing all your competition with government regulation. This allows corporations to hike prices, squeezing money from the population then pay political campaign funds for protection. It's the Digital Age and technology only gets more efficient and cheaper. So why does a chest x-ray cost $1100? It should cost as little as a car wash. Well, when only four hospitals are allowed to exist, they charge as much as they like. Corporatists like Nick Hanauer would have people attack 'real' capitalism which would result in 'more' government regulation, thus making him wealthier. One imagines a vampire attached to someones neck. The vampire tells the victim "You dizziness and pallid complexion isn't me, it's your low blood iron. Eat more iron rich food and you'll feel better." Slurp slurp.

  31. Great video. But I'd like to clarify something: There is no such thing as a selfless act, that a fact. But what isn't recognized is that cooperation and morality are acts of self interest. How is running into a burning building to save a life self interest? For one, people who do it couldn't live themselves if they didn't. We have empathy. That empathy forces some of us help others because we know how we would feel in their position, and we would hope others would help us if were in the same position. And doing for others builds that safety net for us all.

    So there is positive and negative self interest. Greed is obviously negative. Cause crap to fall on someone else's head, and you're likely to get it back on yours with interest. Morality and cooperation are positive self interest. If you don't mess with me, I promise not to mess with you. We both win.

    Give me a good price, I'll be your loyal customer. Rip me off, I'll go elsewhere, if there's anywhere else to go, and there usually is.
    So yeah, we need a new system for economics. This one is filled with greed.

  32. The saddest part of watching this video is how few people have watched this. At least Nick, who has personally profited to great extremes, gets it that the line in the Constitution that states that the most important role of government is to "Promote the General Welfare". Well, he wouldn't have done this TED talk if he hadn't realized that this just hasn't happened in the last 40 years. And why has the distribution of monetary and other wealth become so inequitable? Specifically because these neo liberal and libertarian theories that the greed of self promotion over everything else WILL promote the general welfare? In fact quite the opposite has proven true, so it certainly points to his observation that human economics would best be served by putting human cooperation over greedy self interest in order to create a better human society. Bravo Nick, and hopefully we succeed as a species by doing just that. Any human society that wants to promote the long term general welfare would be better off if people operate more out of love than out of fear, and as long as greedy self interest is the rule that economic theory espouses, we will continue down this rabbit hole of economic inequity to greater and greater extremes, until…? I do think that Jim Hightower's simple statement of: Everyone does better when EVERONE is doing better really should be the economic mantra that we as a species should quickly embrace and implement… and sooner rather than later.

  33. You know its bad when one of the elites is speaking out. If i was this guy id be careful. Im sure the rich dont want the truth coming out.

  34. I do like his belief that he should be heeded because he's wealthy. At least he's overcome the barfly's takedown, "If you're so smart, how come you're not rich?"

  35. Neo liberalisum? Wtf! They are conservatives and republicans they are the ones who Suport the idea the rich = smart or better than the poor.

  36. If there had always been equal wealth there would have been NO CRIMES, why haven’t capitalists ever figured that out??

  37. He beat up malformed strawmen of free market economics the whole time. Theres no new economics, its the same old progressivism

  38. this is common sense.
    marxism is common fucking sense, leave capitalism unchecked and you will end up in an income inequality hellscape where wages are incredibly low and a few monopolies own everything. pay people a living wage and they will be able to afford to buy things and keep an economy going, the bigger the buying power of the working class the better the economy. at the end of the day a billionaire is still only going to buy a single toothbrush, meanwhile a million people with 1 billion dollars between them are going to buy a shitload of toothbrushes.

    income inequality is cancerous and so is neoliberal capitalism, unless you want to end up like india or somalia or someshit

  39. Nick Hanauer is in the top 0.01% rich people so we know he can not be a white supremacist or an oppressor of the poor but rather someone who could open our eyes to the unfairness of people who pick on the poor.

  40. Secret (to liberals): capitalism has lifted more people out of poverty than ANY other economic system. Taking money from those who create wealth just because you can't or won't create wealth, is simply stealing. This is a plea to communism.

  41. Oh FFS, this is all just so wrong. Leftism: replacing what works with what sounds good. It is capital (investment in things like factories and increasing productivity) that DOES create economy growth, – no amount of people is going to increase per captia productivity – only investment does. It is self-interest that promotes the "public good" in that "public good" is experienced by INDIVIDUALS and an individual knows what is their best interest, not someone else,so no amount of reciprocity is going to improve one's individual experience without the individual caring for their self-interest. Economic exchange by which people enhance their self-interest IS "cooperative" and in "reciprocity" in that both parties cooperate in a mutually agreeable exchange, but not for "reciprocity" (though this is a result) but for each pursuing their self-interest.

    People really fundamentally do not understand the meanings of economic competition and cooperation. Business is inherently cooperative in that the people of the business cooperate toward the common goal of that business. Business cooperate in exchange such as supplier-customer business relationships. And businesses and end customers cooperate in economic exchange. The competition is not some MMA cage match but as a skating or gymnastics competition. (side note – even competition is inherently cooperative in all parties involved cooperating in the competition framework – for example, football teams cooperate in playing under the same set of rules) That is, skaters (businesses) produce a performance (product) that they think might please the judges (consumers) enough to award them (freely) the medal (sale) (competitors having the FREE market FREEDOM to try to figure out what that performance/product might be). Skaters are competing against each other to produce a performance that is more appealing to the judges. In this way, the judges get the most appealing performance according to their criteria not the businesses'. It is an incorrect narrative to think that free markets give businesses freedom to run all over consumers, it is actually the opposite – do skaters/gymnasts have the freedom to run all over the judges? No, the judges have the freedom to compel the skaters/gymnasts to produce the best possible performance according to what the judges want. The only freedom the competitors have is to try to figure out what they can do that will be more appealing to the judges than the competition. And this is the important freedom for businesses to have such that consumers can get the best possible products that businesses can produce.

    Yes, markets are efficient equilibrium seeking. It is not at all the way he describes. Sure, no it is not perfect, but it is really just a perfection fallacy as there is no less imperfect system for this. Does an ecosystem function to find sustainable equilibrium? Yes, of course it does. Well, a free market system functions the same way. It is what is called "system equivalent" which is when the math that describes two things is the same – such as electricity, inductors , resistors, capacitors and mass, energy/momentum, springs, friction are described by the same math and thus "system equivalent".

  42. Be a good coperate citizen, to all participants, worker, shareholders, executives, and be good tax paying coperate citizen.

  43. Capitalism may have raised most of the world out of destitute poverty but it may also have put our biosphere in jeopardy.

  44. What he is saying is simply the difference between a psychopath and a sane person. A psychopath is all about ones self… e.g., greed, me me me, etc… a sane person realizes there is far more to life than money and personal meaning… and the psychopath takes advantage. The rich is going to always claim that if you take their money that it will destroy society… they are psychopaths. The rich are destroying humanity for their materialism.

  45. Bezos is a psychopath, he has killed more people than Mao… you'll find out in the future just how many. Remember, both of them never actually killed anyone… directly.

  46. For Capitalist fans, you better fix the flaws of capitalism before socialist s & communists that you so dreaded fix for you.

  47. Another elite trying to shut the door behind him. His example of a socialist policy resulting in booming restaurants in Seattle is ridiculous. https://www.washingtonpost.com/news/wonk/wp/2017/06/26/new-study-casts-doubt-on-whether-a-15-minimum-wage-really-helps-workers/ The reason why ALL the businesses are doing well is because the whole COUNTRY is doing great right now. Nick hasn't driven down the streets of some of these really socialist cities. He would see all his minimum wage earners, unemployed and living in the streets. But what does he care? He made his. Its time to shut the door!

  48. But governments ARE GREEDY, they ARE SELFISH and they will never allow this kind of Capitalism to be exchanged with something that would be prosperous for all not just them.

  49. "Medicare The Day You Are Born."
    Mr. Hanauer's "Inclusion" is PRECISELY why medicare for all is – at its core, and above all of its other narratives, an 
    "Economic Empowerment Imperative." It is a leveler and baseline element of justice that empowers each and every American in a way that (by definition) "includes" everyone right from the start…from their very first day on the Earth. 
    In short, "Medicare The Day You Are Born" creates a fundamentally egalitarian society (where from) each individual can, preparedly, grow into their best, most fulfilled, accomplished (problem solver) self possible.
    An organism handicapped against its environment from its very start…and relative to other not thusly "handicapped," will suffer in its most formative and vital developmental life stages. And as Carl Sagan taught "an organism at war with itself is doomed to failure."
    Any nation/society that willfully dis-enables members of its own species (especially during its most important growth stages) is crippling and mutating its own existence and future.
    Even the development of nuclear weapons is not this stupid and this short-sighted.
    Medicare The Day You Are Born.
    Yes, it's just that simple.

  50. Unfettered Capitalism will result eventually in one company and then one individual owning all. We are well on the way to that. The worlds 26 richest people have more than the worlds poorest 50%. When will it be right to change this? When 1 person does?

    Lets not bother and just watch TV. I'm sure it will all be fine.

  51. So, the people who ALSO need to hear this are the conservatives that will only hear the word liberal, over and over and over in this speech, and will continue to support the conservatives who are in the driver's seat on working against the vision that is proposed.

  52. so is the neoliberal misconception that interdependency is failure? i wonder if there's a way to replace the negative association of communism with interdependence

  53. This guy is Delusional cause 15 an hour barely cuts it. the only thing that's going to help all those making 30,000 or less per year is when we once again separate the corporation from our government and realize the US Supreme court legalized BRIBERY of politicians.

  54. Pretty sure employees for Target having a different experience with raise of min wage. Employers are still in it for bottom line, they have other ways to compensate the raise in min wage.

  55. – why don’t you give away your money?
    – you know, it’s better if I lobby government to create laws to make others like me (read my competitors) pay more

    Genius

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