Nick Hanauer is a rich guy, an unrepentant capitalist — and he has something to say to his fellow plutocrats: Wake up! Growing inequality is about to push our societies into conditions resembling pre-revolutionary France. Hear his argument about why a dramatic increase in minimum wage could grow the middle class, deliver economic prosperity ... and prevent a revolution.
Watch more TED Talks on inequality: http://www.ted.com/topics/inequality
TED Talks is a daily podcast of talks and performances from TED events, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more.
Find closed captions and translated subtitles in many languages at http://www.ted.com/translate
Follow TED Talks on Twitter: http://www.twitter.com/tedtalks
Like TED on Facebook: https://www.facebook.com/TED
Video Rating: 4 / 5
Nick Hanauer doesn’t seem to actually understand capitalism/ free market –
the reason why we are in the mess we are in now is because of central banks
artificially controlling interest rates – price control has never worked,
and artificially keepign interest rates low is one form of most pernicious
“price control” as it seeks to control the price of money itself – it
always ends up blowing dangerous bubbles (tech bubble, housing bubble) and
when it explodes, it’s always the middle class that gets destroyed.
For remedy is NOT to introduce even more price control – that of wages –
this will simply hasten the onset of hyper inflation which is inevitable
with all the money printing going on around the world by the central banks
already
Kill the Federal Reserve. Kill the IRS. Kill the NSA. Theres a start.
“plutocrat
NOUN
a person whose power derives from their wealth.”
#fordism #basicincome : If #incomeinequality not fixed, the outcome is
either a #policestate or an #uprising
He’s warning against pitchforks, goes for 20 minutes, and repeats a bit,
but he makes some very solid logical points for a different capitalist
system.
*A novel idea (5)*
The subject matter is very contentious and have elicited quite a fierce
debate in the comments section of the video but looking at it from the
bigger picture the underlying message does have a pertinent point. That
inequality is not necessary a good thing for the well-off. What do you
think?
—
*Shared for free via **+Do Share*
the rich are looking at each other saying “who’s going first?”
What a pile of steaming crap!
Capitalism does Not beat the alternative!
The most socialistic region of the world is Scandinavia and North West
Europe. They “just happen to be the most prosperous in the world as well”!
The most capitalistic countries in the world, the capitalists paradises,
are India, Indonesia, Brazil, Bangladesh, Nigeria, South Africa etc. And
they “just happen to” have the most poor, and the biggest gap between the
rich and poor. Also, in these countries, the wealth “just happens to” have
concentrated at the hands of the fewest number of people.
Capitalism IS the problem!
How did they ever convince you that “a system where greed is good, where
inhuman and unempathetic behavior is rewarded, where the winner takes it
all, is good for us all”?!
“Capitalists” like this are sitting at their desks and writing codes to
hyper trade at the stock marked and steal Billions from us! This is legal
theft under capitalism. Capitalism IS the problem!
While I love his presentation, He neglects to point out or focus on the
real problem with capitalism. Which is, very often profits are put before
that which benefits humanity and this planet. Capitalism can only truly
work in the long term if Humanity the nature of this planet are a placed at
the top of the decision making process. To do otherwise MUST result in the
harshed of penalties.
If inequality is rising, then what convinces Nick Hanauer and others that
it is the lower marginal tax rates?
-Government has increased in size dramatically.
-The rich pay an INCREASINGLY larger share of total federal taxes.
-Welfare programs have increased by 16x in real terms in 40 years.
At what point does one consider other alternative explanations?
P.S. Taxes do NOT fund the federal government. Liberals with brains know
this and they advocate LOWER tax rates. I.E. people that understand
accounting and monetary operations with a liberal bias….
D.E.S.
+Aaron Kraaymaat watch this trust me!
The tremendous and still accelerating development of science and technology
has not been accompanied by an equal development in social, economic, and
political patterns…We are now…only beginning to explore the
potentialities which it offers for developments in our culture outside
technology, particularly in the social, political and economic fields. It
is safe to predict that…such social inventions as modern-type Capitalism,
Fascism, and Communism will be regarded as primitive experiments directed
toward the adjustment of modern society to modern technology
– Dr. Ralph Linton
Every politician and business owner needs to see this.
So, who wants to bet when and how he will be discredited?
Or he’s just a distraction to give people false hope that the rich care
about them at all.
It would seem part of our modern reality, however, is that we can scale
“problem solving” (Hanauer’s definition of capitalism). That is, we do not
need as many problem solvers as we did 100 years ago to solve the same
number of people’s problems. Thus we create incredible wealth using fewer
people and thus the benefits of those solutions are more concentrated. I
think Hanauer also neglects to reflect on the fact that Ford was not paying
his employees more than the value those employees were creating. Ford’s
story means nothing for a business with a 1% margin where wages and
benefits are the biggest expense.
That won’t happen because the typical Joe was conditioned to never question
his country, its called “patriotism” and if he breaks this sacred bond he
will be labelled as traitor or mocked for being UN-american.
This man is a real hero !!
Nick Hanauer: Beware, fellow plutocrats, the pitchforks are coming:
http://youtu.be/q2gO4DKVpa8 via REALITY,!
Interesting presentation though ‘plutocrats’ to me mean those who are
consciously using their wealth to control governments and economics for
their ongoing wealth but I think he’s right in that at some point even
those wealthy who don’t want overt control will be lumped together as ‘evil
plutocracy’, unless there is a change in our governmental/economic system.
I wish that his description of capitalism was true: “people solving other
people’s problems”, it tends to be more like people making money off of
managing other people and convincing them to buy things they don’t really
need and gaining private management with obscene income production of
things they do need. Glad to hear his views on min wage and top
administration. I think CEO’s and top salaries should be restricted with
the only chance of going beyond the caps proportionate to the increase of
the wages of the lower salaried positions.
Banned TED talk full version!
Henry Kissinger: “If You Can’t Hear the Drums of War You Must Be Deaf”
http://www.globalresearch.ca/accurate-satire-henry-kissinger-if-you-can-t-hear-the-drums-of-war-you-must-be-deaf/28610
i have an idea… don’t wait for the pitchforks. sell your yacht and your
fancy house, give your money to the homeless or others who have been
completely ditched and forgotten by your so called “revolutionary
capitalism” and go live somewhere like the rest of us do, if the worst that
could happen to you is selling fruit on the side of the road barefoot then
i don’t think a normal mortgage would be that bad.
and if that seems a bit drastic, you could at least pull some strings at
amazon and the other companies you own and actually pay your taxes IN FULL
without pushing most of your profits off shore.
and build a few school, and fund free education and health care.
sincerely,
most of us.