Nick Hanauer has come up again in some various conversation I have had and I remembered that I wanted to put his TED talk (repressed for a while because it was deemed "too controversial") up here for all to see. Since when is income inequality controversial?
It's also nice to see the complete destruction, soundly and succinctly backed up with evidence, of the Right's vision of how the economy works. I guess the rich aren't job creators after all.
10 comments:
The Ignorance of Nick Hanauer's TED Speech
The Real Reason That TED Talk Was 'Censored'? It's Shoddy And Dumb
http://www.trueactivist.com/gab_gallery/economic-hitmen-how-it-is-done/
GD, what do YOU think about his points. How is he wrong? Take, for example, the false assumption that if the wealthy had more money, they'd hire more people. They have a lot of money these days. Where are the jobs? They don't hire unless demand increases. These are basic and fundamental economic facts.
Hanauer is completely correct about the way the economy works. Companies cannot hire unless customers are able to buy. The problem is that businesses don't like depending on consumers because they can be so fickle, and you have to pay them too much to make them able to afford the products that companies sell.
That's why Republican budget proposals like Ryan's always strive to reduce taxes on wealthy Americans and take money from the vast majority of poor and middle-income Americans and spend it on defense, which goes directly to giant corporations and their stockholders. They want to shift all spending on poor and middle class Americans to direct payments to giant corporations.
In this way the wealthy can have the best of both worlds: a captive customer in the Defense Department that will sign blank checks of unlimited size, and an unlimited pot of money that comes from the drones who cook their food, clean their houses and assemble their widgets.
That's why there's a constant drumbeat of war and fear from the right: they need to justify a Defense Department that's bigger than the next 10 or 15 countries put together in order to keep the trough open for defense contractors.
Eisenhower warned us...
Nikto- well stated!
My, oh my. What a daisy-chain of mutual tongue-bathing.
Companies cannot hire unless customers are able to buy.
So, until customers lined up to buy the iPod, Apple had no idea to build it and didn't employ anyone to design it or build it.
Right.
Larry and juris, if you disagree with Hanauer's assertions, state why. Perhaps you should pattern you comments after Nikto's comment, style wise, not content wise:)
Clearly Mark didn't bother to read, let alone comprehend, gd's links.
Hanauer is at best partially right - businesses do of course need customers, be they direct consumers or other businesses. It is not correct to say that every business relies on mass consumer markets - though I suppose WalMart is a pretty good example of one that does. Most lefties don't have much love for WalMart though.
As to the rest of what N said, it doesn't merit a response as it is stupid leftist doggerel.
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