The dirty secret of capitalism -- and a new way forward | Nick Hanauer
Why Hacker News recommends it
It is cited in inequality and capitalism threads as a billionaire's critique of neoliberal market assumptions.
What it is
A TED talk by entrepreneur Nick Hanauer arguing that decades of 'greed is good' economic theory drove inequality and instability. He proposes an economics built on reciprocity and cooperation.
Recommended by 2 HN commenters across 2 different months, 2019 to 2023.
What Hacker News said
Recommends pixelfarmer · 2022-11 · on “A Man Who Broke Capitalism – Did Jack Welch Destroy Corporate America?”
[LINK] (The Corporation) I'm soon leaving a company after having seen it grown from a mere startup to what it is today. It had a goal at the beginning, had to fight an entire industry to get an idea across which is accepted broadly nowadays. But there is also a strong inertia towards making these non-goal "goals" more and more important, which in turn define more and more how this company operates inside and what comes out of it in the end. It requires strong and really good leadership to see this problem in the first place and then prevent such a construct from sliding down that slippery slope. The problem with stuff like socialism, communism, but also capitalism is simple: Humans. You crea
Recommends actually_a_dog · 2023-03 · on “South Korea has the lowest fertility rate, with lessons for us all”
Almost everybody is dancing around it here, but the real lesson here for us all is that capitalism, or, at least the way we're doing capitalism today, is unsustainable. You simply can't have the kind of sustained transfer of wealth from lower and middle income people to the top 1% that we've had over the past 50 years and claim what you're doing is a sustainable system. I recently saw this video: [this video] The speaker, Nick Hanauer, has a net worth somewhere around a billion dollars. In his talk, he explicitly says he's a capitalist, capitalism is good, etc. But, if you ignore all that and look at the rest of what he says, he comes this >< close to advocating socialism. According to him (and I
Cites js2 · 2019-11 · on “One-Percenters Close to Surpassing Wealth of U.S. Middle Class”
Some links on wealth inequality that I've read/watched recently: - Income Inequality and the Taste for Revolution [LINK] (Study based on global survey data and GINI coefficients.) - Robert Reich: Everything You Need to Know About the New Economy [LINK] - The dirty secret of capitalism -- and a new way forward | Nick Hanauer [this video] - Why Free College Could Increase Inequality [LINK]
Cites pixelfarmer · 2023-05 · on “New Study Finds a High Minimum Wage Creates Jobs”
[this video] (Nick Hanauer TED talk) Ask an economist about WHY economy exists in the first place and you can put a bet on the fact that many of them get it wrong. How can anything building on that be right then? Exactly.