Beware, fellow plutocrats, the pitchforks are coming | Nick Hanauer
Vložit
- čas přidán 11. 08. 2014
- 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: 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 www.ted.com/translate
Follow TED Talks on Twitter: / tedtalks
Like TED on Facebook: / ted
Anybody notice the statistic "in 30 years, the top 1% will own over 30% of national wealth...". We're only 10 years after this talk, and it's at 38% now.
The Republicans are working on it, break time's over, get back to work, slacker.
@@redhedkev1 Hopefully this was a sarcastic attack on Republicans, but you should know that most Democrats are scarcely better. There is only one party; it's GREEN, and not the environmentalist kind.
darkskyinwinter thanks for this info.
incoming stock market collapse that'll reduce that number?
@@samsonthebarbarian5593 If you read the communist manifesto, you will discover you already live in a Communist country.
"The illiterate of the 21st century
will not be those who cannot read and write,
but those who cannot learn, unlearn, and relearn. ”
All they have to do is pick up a damn book. But they do not read and when they come into some of these forums they come across as clueless
8th graders.
Who said this quote?
@@dazeenme Alvin Toffler is credited with this quotation.
I’m an archaeologist. I study systems collapse. I’m interested in how complex societies rise and fall. This man is brilliant; and he’s right. History bears out what he says completely. Listen to him.
spiritof1776 - You must mean, ‘BS’, not ‘Bs’. Orthography is important: even for morons.
what book do you recommend on the subject?
@@inherblues7261 - Two good general introductions to the subject - though from different perspectives - are Eric Cline, 1177 B.C. - The Year Civilization Collapsed, and Jared Diamond, Collapse: How Societies Choose to Fail or Succeed. Bruce Trigger et al., Ancient Egypt: A Social History, provides a more scholarly treatment of the subject from an Egyptological viewpoint. Additionally, Edward Gibbons’ classic, The Rise and Fall of The Roman Empire (though published almost 250 years ago) is still remarkably relevant.
@@dorianphilotheates3769 thanks!!
@@inherblues7261 - 👍
Hey look, a capitalist who actually understands capitalism
true...greed is the enemy..
Hah, you really don't believe that the other ones do not understand it? I would contend that they understand it very well, better than most in fact. It is just that they do not care. And that is different than any lack of understanding.
@@raymroz5806 it's a joke
@@ghostratsarah It certainly is.
@@ghostratsarah I did catch the joke btw....while I wasn't joking, I was being somewhat facetious as well. ;)
I am not sure why these employers don't get it.
You invest in equipment.
You invest in the stock market.
you invest in real estate.
Why won't you invest in people?
It's pretty sad.
And just like this guy is saying I have been saying for years.
After you have it all who is going to buy your products?
+Chris Tindall A few do Chris, and I'm glad I work for one of them. And our company is doing quite well. In fact, because I'm treated well, I've never worked harder or cared more about our product and helping then customer than any job I've ever had. It's very reciprocal, and a damned shame other companies can't figure it out, and the government doesn't structure tax perks to foster it like they do with equipment investment.
+Chris Tindall The equipment doesn't need to be repressed so thoroughly that it never gets a moment to breathe and look around and become dissatisfied with its lot. Truly. rather than being MORE satisfied, as soon as you start treating your employees well enough that they are not absolutely desperate, they become MORE dissatisfied.
People only become dissatisfied truly when they are unappreciated, or expected too much of. People don't become dissatisfied when they feel like they are doing well, and paid fairly.
A little short sighted Ideology.
If everything were automated Right Now as they say could be done.
What do you do with 7 billion Un Employed people?
Population is going to peak at 11 billion.
search TED TALK'S FOR THAT VIDEO.
We Need more jobs not less.
We need fewer people, not more.
Nice to see TED actually put this up..... not that it will make a blind bit of difference, of course.
"Many economists would have you believe their field is an objective science, I disagree, i think that it is equally a tool humans use to enforce and encode our social and moral preferences, and prejudices about status and power." Wow just wow, this video needs to be seen by everyone, especially now.
Economists are like ancient oracles, they're always right by being vague and constantly changing their forecasts.
Short version: economics is astrology for rich dudes.
This guy is just another leftist tard. He has no idea what he is talking about. Anyone who uses the terms “trickle down economics” is a complete moron. There is no such thing as “trickle down economics”. It doesn’t exist as an economic theory. This guy is a complete fraud. Raising the minimum wage IS a tax on the middle class. He is a charlatan who is rich and trying to pull the ladder out for others. He is a moron. There is NOTHIG with with a wealth gap. You will never have equal outcomes. It’s impossible and evil to push for it (equity). Raising the minimum wage will hurt all small businesses. He is a fool.
This is actually happening right now in my country, Chile.
Pinochet did it right.
Also in Lebanon, Haiti, Venezuela,etc...
First it started in Ecuador
Wena qliao
@@harshitmadan6449 hahahahaha, that stupid did the contrary
You know things are bad when even the rich agree they have it too good.
Makes me think of Warren Buffet complaining that he pays less taxes than his secretary.
Haha! Exactly
only a vanishingly small minority of the rich, in this case. Don't get carried away.
Our time is a Golden Age of the Stockholder.
+movie guy99 to be fair, Warren Buffet is a pretty decent guy.
As much as I've always loathed spending my short life making others wealthy: "barefoot, by the roadside, selling fruit" sounds better to me then 90% of the jobs I've had.
Does any retailer offer a convenient installment plan on pitchforks? Better yet, garage sales! I'm sure they don't wear out easily.
Funny, I quit my job at Fed Ex as I got paid by the stop and my stops dropped by 50% along with my pay. Now I am farming to sell vegetables and fruit on the side of the road. True story.
Yeah, but it been over 100 degrees outside for the last four weeks and you bring home about $50 week. Home is a tent in the woods that you hope is hide good enough to be there at night. Healthcare and retirement plans are a far distant dream. So, the voices in your head drives to save enough to score enough Fentanyl to put an end to your miserable fucking life.
@@larrybeckham6652 geez better to pitchfork em
@unionjackess good for you l'm close myself
Seems his message isn't getting through. 5 years ago and I still make less than I did in 1998.
Charles .... time is changing ... you will see the change ... no worry. It is coming.
@Neil Heckman That revolution entered to the Capitalist society, it abolished Feudalism to enter Capitalism
At this point, pitchforks makes sense. What do we even have to lose? We are dying of stress working anyway.
Here in Kansas City (and St Louis plus maybe a few other cities) we voted to raise the minimum wage like they did in Seattle and what happens? The Legislature in Jefferson City passed a law saying cities cannot raise their minimum wage above the State Minimum Wage. People protested and thus we got to vote on (and pass) Proposition B. Result? As a result, beginning January 1, 2019, the hourly minimum wage in Missouri will increase from $7.85 to $8.60, and will gradually increase by 85 cents per year until it reaches $12.00 per hour in 2023: 2020 - $9.45/hour. 2021 - $10.30/hour. 2022 - $11.15/hour. 2023 - $12.00/hour. There is a caveat though: Employers engaged in retail or service businesses whose annual gross income is less than $500,000 are not required to pay the state minimum wage rate. Employers not subject to the minimum wage law can pay employees wages of their choosing. (labor.mo.gov/DLS/MinimumWage). Tipped employees in 2020 will get $4.725 an hour. Agriculture seems to be an exception to the minimum wage (Section 290.507) and there are other exceptions (Section 290.500(3) of MO Labor Law)
That's because he is basically a joke. His message means nothing because it isn't about a class of people ("plutocrats") but about economic systems (neoliberalism and capitalism).
8 years later and not a damn thing has changed. Things have gotten significantly worse. Guess he's right about the pitchforks.
Yeah, eventually he may be right on that. .
How much money did he make during the plandemic I wondef
I tend to agree with most of this talk. Our society suffers from too much short-term thinking. The system we have now is serving the very wealth extremely well in the short run, but I agree with Nick Hanauer that in the long-term it will be bad for all of society, including the wealthy. Unfortunately, I think among his peers Mr. Hanauer is by far the exception. That is why our government is tending towards a police state, which will seek to protect the monied interests if the pitchforks ever emerge. Investing in the middle class is a much better solution in the long run... I wish more plutocrats would take up the cause.
Can you show me signs of a police state in the U.S? I'm assuming you are American. I will like to know what to look out for
phasedreality1 - this statement is obviously so correct three years later.
+Fatima Siad Have you had enough time to answer that now?
@Fatima, cops gunning down innocent citizens and trumping up charges on protestors.
*And there you have it!* The reason WHY we have so many RICH Billionaires who are LIBERAL DEMOCRATS! They give the wealth of the middle-class to the poor so that the "Pitch Forks" stay away from their gates. THIS IS WHY THE MIDDLE-CLASS IS SHRINKING. They are Bleeding the middle-class dry at TAX TIME.
Here's an idea. EXEMPT the poor FROM ALL taxes, including GAS TAX which is 80% of the price of gas! No more sales tax, no more income tax. This is the BEST way to help people earning under $30,000 a year.
Everything he is saying is utterly obvious. But it is invisible to those blinded by ideology.
Jack Cade Does not Matter. Capitalism is like cancer. it will ultimately run its course and consume itself.
Oleg Khaghani All systems' contain the seeds of their own destruction.
Pat Spray A Truism!
Pat Spray A Truism!
Communism is nothing more than State controlled capitalism. Democratic Socialism is another critter entirely.
Over 5 years since this video was posted and the same issues are still accelerating...
True.
@Randy Rodes _"plutocrats"?_ plural?
Things got worse actually, Trump got elected!
the Wealthy throughout the History of the World understand only two things: Money and Bullets.
He cut taxes for lower middle income earners
We're tired of being pissed on. This guy's correct.
Hear that. Is it true, he got booted off Ted?
Nice to see TED finally put this up....two years later.
This is a new one he's done
TheMdog8
Same message though.
Koori Renchuu Agreed :)
wow. Am I ever late to the party.?! Time for this to be seen again - its message is even more timely now. Perhaps also time to start that pitch fork sharpening business. With fruit.
The pitch forks will come regardless. It always happens. Greed never stops to think about what it's doing to others. It just get hungrier.
Yes. Notice how he clearly states he's not giving a "moral reason" for changing the Corp business model. It figures.
Exactly. It's more of a pragmatic "throw them some crumbs" reforms than a moral epiphany of how no one should go without life's essentials.
as do sloth and jealousy
@@pablorages1241 spoken like a true 1% er.
This guy predicted Chile situation today.
Edu Perecic oh this will happen in the USA it's just a matter of time. But since the USA is civilized society the rich will have to obey, they will have no choice
@@NuMuzikZYX France was a civilized society. Why do you believe Trump got votes at all? Many people still believe he is for them, against "the elites," and some are reading their pitchforks to fight whom they understand are against themselves, the elites, embodied as the intellectual, artistic, Dem elite, and the lobbying, buy-all GOP elite.
Pay some attention to comments under Fox's videos. That people is ready for anything.
If his plutocratic buddies don't change soon, he will be the next Merlin.
@@MariaMartinez-researcher you are right, if liberals and the rest of the list you mention think they will change trump's America, you have a big surprise coming your way if you think it'll be that easy. Lead salad and we are ready
dah
Nobody earning $15 an hour is even close to the middle class.
Yes. But when people who are paid at 11/hr now are paid at $15/hr, people who are paid at $25/hr will be paid $32 USD or more (enough to touch the bottom of the middle class).
@@nartrof90 , you mean barely scrape the bottom surface, while standing on a ladder.
$15 an hour is too low and tipping is a con. Nobody can live on tips. At least he’s for improved wages.
Ying-Hua Chung you really don’t know what the middle class is lol
they never will be either
"I can pay one half of the working class to murder the other half" - Jay Gould.
True then. True now.
That's a socialist. Capitalism forbids murder.
Kind of like how Republicans and Democrats fail to see the Divide and Conquer going on. The rich are the enemies. Get those mofos.
Harshit Madan tell that to all the colonial holdings of Britain, France, Purtugal, Spain
Tell that to the thousands murdered because there was an incentive to do so
Capitalism doesn't forbid murder
Each ideology justifies who can be murdered
In Socialism's, it's the wealthy
In Capitalism's it's the bottom of society
@@derektorres3092 Great comment
Well that is how they broke songs of the slaves. We're still slaves until this day and Immigrants have it the worse.
I used to ask "who will they sell to when we have no money left?"
Nice to see that they share the same concern
To China.
@@vienlacrose Chinese consumers have even less buying power. Most of China's economic "success" comes from exporting to other countries.
China is having it's own problems now. Their grow is slowing down and the system is corrupt and full of decay. Not to mention they will have their own problem when automation kicks in and millions are laid off
@Oh Kinawa I think the idea is about growth. The mindset adopted by people is that they need to keep getting more, but what happens when you hit the hard ceiling? It's just not a goal that makes sense.
@J K I don't trust the numbers from the Chinese government, but I could believe domestic sales are rising. I don't attribute American companies staying in China to them seeing a demand for their products, I think it's very clearly because it's the cheapest place they can get quality labor. GM, Apple, etc, all of those places are in China because it's cheap. China is definitely an "emerging market" whose consumer power is growing, however the only reason for this is the sheer amount of people there, not because it's in a particularly great economic situation.
I just wanted to raise a family.
But families are not the priority of this economy.
Pretty hard to raise a family nowadays.
I did too, and I cant even afford to be a foster parent at this rate.
Families are harder to enslave mentally than individuals with no familial ties. Nuclear families are weaker than large families, and tribes are stronger than clans. Ever wonder why the king forced or ancestors to live a completely different lifestyle? Where are our tribes and clans? Oh well, that's primitive anyways right?
only sit at home stock owners matter now.
Labor creates wealth. Labor came before wealth and deserves the higher regard. --A. Lincoln.
Not non-POC familiez
"You show me a highly unequal society, and I will show you a police state or an uprising."
5 years have pass... well...
Yeah... the pot is beginning to boil, I fear.
Brilliant, in Australia the minimum wage is $19.49 per hour for a 38 hour week plus 4 weeks annual leave, we have the world record for the longest period of economic growth, 27 years.
and a per capita GDP that has been reducing for decades ... if Australia didn't have mining it would be a 3rd world country ... immigration is destroying Australias standard of living
@@pablorages1241 tradingeconomics.com/australia/gdp-per-capita
@@jpbhastings It fell year on year from 2013-2016 about, but is coming back up, however even by 2020 isn't projected to be as high was it was in 2014. So I think that's what he is referring to.
@@hzuiel Yep, the main point I was trying to make was that we have had a high minimum wage for many years and it doesn't seem to have affected the economy, I live near Melbourne it has stacks of restaurants, eateries and cafe's which seem to be thriving even with a high minimum wage. I think that if you guys had a higher minimum wage it would be a boost to the economy, lots of people with more money to spend. Just my opinion, I'm no economist.
@@pablorages1241 Unlike Americans,who nearly killed ALL of it's native inhabitans,Australians and New Zealanders know that land does not belong to them but the native populations.If immigration is destroying Australia,maybe the whites should leave first.
Good points, but I think you underestimate your colleagues' willingness to establish a police state...
LOL damn that is so true. Poor Nick, bless his heart I wish he were correct in his assumption that they would also think a police state should be avoided at all costs.
My point exactly. And I don't buy that if pitchfork people were to take his fortune he wouldn't send fascist police/CIA/militias at us, not for a second. Plutocracy is a pathology.
pkunkbwok it’s called Zionism
@@bible4truth
Hunh?
You seem to have started with some weird thingie going around in your brain and then tried to let it out for a walk.
At random.
@@bible4truth Israel will never be conquered and you are out of line.
Spolier: 8 Years later, it's clear they've decided they're gonna implement a police state while they wait for the Pitchforks.
They just won’t learn.
Yup. Agree.
If they opt for the police state, the country will become like Rome.
I hope everyone knows Roman history.
Stop COP City!
The president of Mexico just used your video on a press conference.
a very very smart man, too bad his friends stopped listening 2 minutes into the show!. because nothing has changed since this video!.
Something did change: they called in the alt-right and are making sure that, one step at the time, the democracy is eroding
It gets worse by the day
www.google.com/amp/s/www.commondreams.org/news/2019/08/05/if-inequality-continues-grow-current-rate-richest-americans-will-own-100-us-wealth%3famp
this is why they want guns people.. "be a police state or the mobs are coming"..... want to fix this mental health problem, go after big pharma.... unconstitutional red flag laws and imprisonment is not a way to solve this... maybe we should be looking in to why a shooting always happens at the best times for anti gunners? who could love this country when we the people keep losing the rights that made this country great? we get treated like children, its sad... who really benefits from an unarmed america? china, russia, iran, and any other enemy of this country.. in ww2 the Japaneses didnt invade because we are an armed people and they where not talking the army but the people ie civilians... The referenced "letter" is claimed to be in the extensive personal files of Gordon W. Prange, the personal historian for Gen. Douglas MacArthur. The Yamamoto quote in this letter is said to be, "to invade the United States would prove most difficult because behind every blade of grass is an American with a rifle
Oh it has changed - the stress is higher and violence growing. Pressure and time makes gold or oil in the ground, but it makes mass graves on the surface
of course not. It's in the title, "...the pitchforks are coming...". Change will not come until the people on top are changed, specifically when their heads are separated from their shoulders.
History shows repeatedly that economic inequality is punctuated at the end with a major war. The rich and powerful ignore their people, tighten their grip to hold on to their privilege. They'll stamp out free expression of legitimate greivances. They make peaceful change impossible thereby making violent revolution inevitable.
China is currently showing the way of heavily regulated capitalism. In 40 years they've lifted 700 million of their own out of abject poverty. In 40 years the average Chinese has seen a 6 times increase of real income growth, in the same 40 years that Western wages have stagnated. In just over 10 years China has built ~29,000 km of high-speed rail, twice as much as the rest of the world combined. China has built up a space program on first principles since they've been explicitly excluded from Western space programs. They are the first to land anything on the far-side of the Moon. Since they look after the needs of their citizens there is little fear from the introduction of AI and general automation. The tune is diametrically opposite in the West with warnings of job loss. AI and automation alone will give China an irresistible advantage at least comparable to one country adopting roads and cars while another eschews them.
As a substitute teacher, I showed this as part of a hasty lesson for a senior economics class. After I finished the video, a student said "This guy is an idiot!" I replied "How?" The student said "This is guy is stupid. He is an investor, not a business owner..." which went on to stimulate a discussion. The ultimate insight came when I asked the class "Who here works?" Many of the students raised their hand. "Do you think you get paid enough?" All of them unanimously said "NO!" I replied to them "Then why would you support a candidate that doesn't support a minimum wage increase?" The class went silent. There are not many moments like this in Education, but I am glad I was able to get away with this.
They should work in a factory in China or Mexico for 6 months, like a few billion other humans do. then ask again-"Do you think you get paid enough?"
That's a weak argument. It's called the Fallacy of Relative Privation. Look it up. According to your logic then you would be completely fine with child labor and paying them, as many children around the world do, so your children shouldn't complain when they don't want to homework. Somewhere we drew the line as we didn't think it was moral to use child labor and pay them little. Same thing with the minimum wage. Everyone deserves enough to live, even if they are hamburger flippers.
Great example of a straw-man argument! I never said that ! Yet in reality, by exporting these jobs to countries that have lesser regulations, including wage and child labor regulation, we have done exactly that and side stepped all our labor laws! Sir you have inadvertently stepped into a moral trap with your straw-man argument. You have proved my point! Thank
you!
Your initial comment was that you think US workers should be content with their wage if there are persons in other countries getting paid less. There are already built-in assumptions into the argument, being that you think US workers are paid enough and a comparison to other countries labor laws. You just said it's fair game to send our labor overseas since its cheaper to do so [sic] "Yet in reality.." What moral trap? What you're advocating is a race to the bottom.
Yes race to the bottom...moron.
"in 30 years, the top 1 percent will own 30 percent of the wealth" lol, it took 6 years for it to become 40 percent haha T_T
LOL. Only expediting their downfall.
Duhizy...you people know stats. Really well. I know nothing other than how it affects society. I can see that people won t take arms as we are conditioned to believe it is our fault and we all get what we deserve. Those with mega money are mean, selfish, arrogant fucks and we are lucky not to be involved.
I don't know the answer. I don't know the solution. But I do know that Struggle sessions, guillotines, and purges might be coming real soon. And these decadent elites will finally be afraid. They may try to bolster civil wars and have the peasants fight each other, but as history shows, that will ultimately backfire once the people realize that we are all in the same boat.
@@NashHinton quick invest 10million in pitchpforks!
@@NashHinton - By the time the people realise they are all in the same boat most will be dead.
when the revolution comes " you gonna be wondering how could live so large and leave so little for the rest of us"
TED talks range from very interesting to complete waste of time. This is one of the most important.
...wastes of time...
Looks like his colleagues ignored him and doubled down on greed.
Andrew Yang has the near perfect antidote. Give him a chance, not much else seems to be working.
Could keep those pitchfork from coming.
They don't give a f--- bout pitchforks, they have mercs with snipers & AR15s. And the guys at the very top have drones & guided missles guarding their compounds :P
@@debbiemoses3565
Yang wants to absolve all student debt, force the greedy bastards at the top of huge companies to start paying living wages instead of just automating and laying off workers, and incentivize every company to stop causing health problems for profit (like investing in tobacco, or putting candy in schools, or other BS that profits at the expense of people's health) by forcing them to pay for medicare-for-all? If he does, he might just steal my vote away from Bernie.. cus Bernie has all those policies x.x
You cannot abolish greed more than you can abolish fear. Fear has been around for millions of years even before humans were around. Same for greed. It is an evolutionary trait.
Mark Blythe said it well that “the Hampton’s aren’t a defensible position”
"The genius of capitalism is that it is an evolutionary solution-finding system. It rewards people for solving other people's problems." Yeah. And for creating them.
It only functions as an evolutionary solution-finding system when it's kept under control. When it gets this out of balance, it can't do that anymore.
presently looking for venture capitol for pitch fork manufacture and distribution.
You took all the things and made it into one things. I do'd a laugh.
... you'll go bankrupt ... those supposed poor people are too comfortable to actually rebel ...and too lazy
Whizper2me with what money?
Funny comment! Hilarious!
Don' t forget my 3 week pitchfork mastery class with optional seminar. Ossu!
The French Revolution shows us what happens to those who aquire and abuse. Viva la revolution.
Well said Kcotte
👍👍
But that revolution ended up with Robespierre, and the terror. But I agree we can't keep a liberal democracy, with so much poverty.
Try storming the Bastille when the guards have 50 cal machine guns, body armour and nightvision goggles...
French revolution was caused by tax hikes and excessive government spending, opposite of capitalism.
The pitchforks are coming much faster than you think and I say that being conservative with a small c. The inequality gap despite hard work just can't continue to grow without a massive backlash
Plutocrat: "a person whose power derives from their wealth".
Thank You.
*And there you have it!* The reason WHY we have so many RICH Billionaires who are LIBERAL DEMOCRATS! They give the wealth of the middle-class to the poor so that the "Pitch Forks" stay away from their gates. THIS IS WHY THE MIDDLE-CLASS IS SHRINKING. They are Bleeding the middle-class dry at TAX TIME.
Here's an idea. EXEMPT the poor FROM ALL taxes, including GAS TAX which is 80% of the price of gas! No more sales tax, no more income tax. This is the BEST way to help people earning under $30,000 a year.
@@johnslugger - Horsepuckey! The super rich are all pretend 'capitalists' and supporters of the Republican party who get government handouts (subsidies = fascism) to support their companies. When these companies lose money, they get even more handouts to 'save the economy'.
The biggest lie they got the working class to believe is that they are on your side against 'enemies' (liberals, democrats, 'socialists', immigrants, China) and the only 'they' can save our Country.
The working class people that support the Republicans, thinking that their going to save 'Christian', 'Capitalist' country are the biggest fools of all because the USA is neither of those and They Don't Give a F¤ck About You!
The level of honesty and integrity was amazing to watch. Ironically the most moral thing I've seen, even though he was talking about mutual shared interest. No need for spiritual or hippy talk, or frighten people with socialism. Just plain old fashioned common-sense driven by mutual self-interest.
money is like manure: in one big pile it just stinks; spread it around and it makes things grow.
like it! I am a gardener and I can certainly attest to this fact!!
Quote by -Jimmy Dore
What a bunch of crap...pun intended. Earn your own money and quit looking to others to take care of you.
Jan Morehart, you are ignorant.
i'll concur. but not when greedy fucks make tons of money at the cost of fucking over poor & working people.
Let them come. I'll be ready.
To join them.
violence is the only language sociopaths understand. This is why us peasantry with our carefully sharpened pitchforks will be coming to a mansion near you. You talk or you squawk! Your choice..
Ecuador and Chile 2019
He was way off on his prediction. It's already up to 40%
Not sure who this guy is but he does see the big picture
he's a smart, honest Billionaire. that is how rare he is.
Great talk from 2014 and right on tract in late 2019. Nick is one of the few that acknowledges middle class is the engine; not the other way around.
Warren Buffet also but you don't hear too much from him.
This guy is just another leftist tard. He has no idea what he is talking about. Anyone who uses the terms “trickle down economics” is a complete moron. There is no such thing as “trickle down economics”. It doesn’t exist as an economic theory. This guy is a complete fraud. Raising the minimum wage IS a tax on the middle class. He is a charlatan who is rich and trying to pull the ladder out for others. He is a moron. There is NOTHIG with with a wealth gap. You will never have equal outcomes. It’s impossible and evil to push for it (equity). Raising the minimum wage will hurt all small businesses. He is a fool.
Every leftist policy HURTS the middle class and robs the middle class.
When are you going to have this conversation with Jeff Besoz the Koch brothers and Jaimie Diamond?
Bro, Jamie Dimon pays his employees above the average wage in any given sector. Not saying he's great just that he's better than a lot of them.
You forgot Warren Buffet.
David Koch dead at 79. Unfortunately he died in peace and not tortured as was his due.
帥哥
thanks to mother earth for except ING one of those koke brothers. for firtalizer.
One of the koch mf died
Healthy economies thrive on the disposable income of a prosperous middle class.
fromkentucky yes and the middle class now is slowly becoming lower class.
Liam Ashton
More like nearly gone. Debt and statistics are shoring the working class both hourly & salary. Automation will soon limit career prospects to senior services, or military service. IMHO there is no need for, monetary, or govt, systems of control. The US standard of living being made from years of Racketeering, Genocide, and Murder, in the name of Manifest Destiny, Central Banking Debt Enslavement over all the Continents, will come at a severe price in the coming years.
Liam Ashton
More like nearly gone. Debt and statistics are shoring the working class both hourly & salary. Automation will soon limit career prospects to senior services, or military service. IMHO there is no need for, monetary, or govt, systems of control. The US standard of living being made from years of Racketeering, Genocide, and Murder, Central Banking Debt Enslavement, over all the Continents, will come at a severe price in the coming years.
Healthy societies might thrive on disposable income of the middle class, but the "economy" itself doesn't. The wealthy can now get by quite easily without them.
@ Cristobal - false
I'm sort of mindblown, even though this feels like it should've been common sense.
If the person doing this talk was running for president in
2020, I'd consider voting for him.
He's not so foolish as to want to be President of the United States. Why on Earth would he want to give up his incredible lifestyle to serve a bunch of people who a large percentage of would complain constantly about whatever he did, no matter what it is?
He is right about the pitchforks, but the overall economic theory he advocates still clings to the unsustainable illusion of unlimited growth in a limited world made of limited resources, not to mention the increasing collateral damage of growth.
At least he is aware of the crazyness of the current system and its self-defeating mechanism.
I don't think any of his argument surrounded the idea that we're working in an infinite field. Nowhere did he say capitalism is on a basis of magic and miracle, he likened it to evolutionary mechanisms. It's an important point you make though, especially so of the collateral damage of uncoordinated, blind, wreckless plunder - ourselves, our basis.
Not if we incentivize ecological adaptation (e.g., carbon tax, higher mpg standards, revival of conservation corps). Of course there are limitations to the world and its resources, but this has always been so. We cannot guarantee an infinitely perfect future, but at the same token we are not doomed. To concede the latter would be to grant humanity an excuse that it does not actually deserve. We can never make things best, but we can always make things better, and particularly now, when much of the problem is simply to avoid an obvious way of things becoming worse (i.e., extreme wealth concentration).
Mark Daniel he didn’t say it specifically, but it is implicit in capitalism. And I am pro-capitalist. But the problem of socialism is that you run out of other peoples money; the problem with capitalism is that you cannot grow infinitely. Capitalism is more adaptable. That’s the difference. It’s just that society likes to swing to extremes. So when capitalism starts to show its ugly side, it doesn’t get to correct itself. People just want to grab the profits - read: socialism.
@Goy George Sounds good lol. Read Marx, become REDpilled...literally redpilled. He predicted all of this that big brained smart boi :)
BIG TALK , But Problem with HIGH minimum wages is THESE Self effacing WONDERFUL Rich PEOPLE SHOULD be, but are NOT pulling out of their OWN POCKETS the PAY Wage GAP.. instead these SO CALLED GENEROUS Plutocrats are making the 90% of SMALL BUSINESSES PAY out and be BURDENED with HELPING the Middle Class
I love this presentation, because it speaks to the dynamic synergy necessary in any healthy society. Are you on Team Bernie?
Omg! Are you serious?
I've been trying to make this argument for a long time. But the key to that whole argument is you can't raise prices of products to cover the cost of the raise of the wages. If you do that you're right back where you started. If you have to make cuts it needs to come from the top.
Exactly!!! Problem solved! the cuts can ONLY come from the top...but the greed, and selfishness continues to slash at the bottom ...smh
The prices are already marked up sky high. Many of the products in large retail stores are marked up well above 200-500%. Even if they reduced the cost of those by 90% they'd still be making a huge profit off the majority of items.
Ford's wife threatened him she would leave then he broke the strike.
Wow
The strike? What year?
I'm watching this in 2019 and can say Nick was right. The Police State is well entrenched here in the Land of the Free!
R iui day. They already have military equipment. Tanks down Broadway. Tanks down Main St. Tanks in every village. Tanks in every waspy asinine. Hamlet. The thing these cops are no better off than the rest of us but they will follow orders. Bahhh bahhhhh ahhhhhh bahhhhhhhh
I suggested Moscow Mitch was a criminal who should be tried and I thought guillotined - too much for Twitter. If Social media and legal procedures are not available - only violence or submission remains.
"The Police State is well entrenched here in the Land of the Free!"
I dont like getting given speeding fines either mate...
@@johnauner671 Agreed
Land of the free you are not !
Listen hard. This guy knows what he's talking about: rejecting bogus academic economics.
For the last three years, I have said, “the next president after Trump needs to emphatically tackle these problems of inequality or it will get very ugly and there will be riots like in Chile and Hong Kong and Ukraine.” They all started about different, seemingly innocuous issues and then ended up raging protests against the status quo that shook, and sometimes overturned, whole political regimes. People around me looked at me like I was crazy, and over and over again I heard, literally, “Oooh, don’t be dramatic.”
I saw Trump getting away with crime after crime and said, “it’s not happening now, but it will. Our GINI coefficient is too high.” Still my friends and family said I was reaching too far.
Then the pandemic hit and i was like, “well THIS will be an accelerant, probably within the next two years when the economic fallout starts, but right now people will be too scared of being infected. Our next President better be an FDR on steroids to head this off...”
And then I saw the White House tonight, totally black with Trump in a bunker and fires raging everywhere, and I’m like, “oooh boy, I think the pitchforks may have arrived...”
My dad used to illustrate the fallacy of trickle down economics by observing that when the rich pay more taxes, people have greater access to an education that allows them to find the kind of vocation that suits them best; enjoy a level of health that promotes productive longevity; have roads and bridges that allow them to get to work (as well as head off on adventures); and experience a greater sense of well-being and contentment.
Sad ... this is just the kind of thoughtful and just guy we need in the 0.01%. The kind that should be part of a ruling elite of philosopher kings or on a board managing the nation ... because face it, direct and even representative democracy does not work when you have a broken public, and we do.
The jump from $7.25 to $15 should surprise no one because the min. wage was kept artificially low for decades. The only realistic LIVING wages are above $20/hour most places, and $25 in expensive NYC.
rocksteady56 you are an idiot. Increasing minimum wage to $25 in NYC will only make it more expensive to live there.
Look Australia 18 hr and very expensive to live here
Then every babysitter should be pair $15.00 an hour. Sure, some babysitters are teenagers, some are people just wanting to add a little income or interest to their lives (they don't really need the money), but some people are trying to live on that babysitting money!
Because a few babysitters need that money for survival, all babysitters should be paid $15.00 and if you can't afford it, too bad, either leave your kids home alone or stop going out for date night. If you can't afford both a dinner with your spouse and a very well paid babysitter, stay home.
The super rich can easily afford the higher priced babysitters. The rest really on illegal sitters or or neglected children or no longer do anything that requires a sitter. All three of those choices are bad for society.
Sameer Bopardikar not how economics works....
The funny thing is that plutocrats wouldn't actually be 'giving up' their style of living. Like he said, he's not buying 2000 pants. He has money that's just sitting around collecting more money. Their daily lives do not need to change at all, just the number in their side account that they never touch might be different. And even so, it might get bigger because more people are able to invest in whatever their business is.
7 years later, I’m coming for you. I’m a pitchfork.
After his talk,he should have told the attendees “Now for refreshments-CAKE”
laughed out loud!
HaaHAAA good one Marie!
don christie If it’s cake and cookies then he’s free to go.
don christie, So when The French Queen Marie Antoinette was told the people have no bread, You know the rest. In France to day you can buy a case of table cutlery consisting of a cake slicer and a set of Cake Forks, Lay Porshets. When madam said, Let them eat Cake, And the French have not forgotten. Viva La France.
Truth and honesty,....If only those words had true power to change this world of greed, lies and deception, this man is right, he is calling it out for what it is, But you cannot shame evil, it knows no shame! at least this mans soul is in tact,...more power to you Sir!
BIG TALK , But Problem with HIGH minimum wages is THESE Self effacing WONDERFUL Rich PEOPLE SHOULD be, but are NOT pulling out of their OWN POCKETS the PAY Wage GAP.. instead these SO CALLED GENEROUS Plutocrats are making the 90% of SMALL BUSINESSES PAY out and be BURDENED with HELPING the Middle Class
When he says prosperity, change that to inequality and destruction
Wish his ideas had actually gone somewhere, Ive worked 6 days a week since i turned 16 eight years ago. I’ve learned all kinds of skills and I’m still just a poor worthless failure. My boss bought 6 members of his family new 80,000 2020 trucks a couple months ago and I still barely get by. Makes me wish I could just go ahead and die..
An excellent talk by a millionaire with a conscience on TED. The crippling levels of wealth Inequality are killing the American Dream and are ultimately unsustainable. We either fix this with democracy or a revolution from tyranny is inevitable.
+Ole Olson Believe it or not he isn't even your regular millionaire...he is a damn billionaire.
+Ole Olson Indeed, I am also very glad to see him living a modest life and putting all of his money back into the middle class...oh wait... he is just arguing to force businesses to pay everyone a specific wage by force of the government. That is clearly going to work in all areas of the country outside of a singular city that has one of the highest cost of living in the country.
+TheWeakMinded imagine back to the time when small businesses flourished because there was a thriving middle class with disposable income.
We can have that back, but wages need to go up. People working 40 hours a week should not be living in poverty.
It is one of those things that you don't know until you know (I sure didn't), but did you realize that the top 20 Americans own more wealth than the bottom 135,000,000 Americans own combined, assets included?
The very tip-top of the economy is running away with nearly all the wealth. Hanauer's analysis is spot-on.
Brian Anderson The only people working 40hrs a week and living in poverty are people working jobs meant for teens in high school or jobs that require absolutely no skill.
Did you ever bother to analyze why those people hold all that wealth? Even taking Hanauer for example, he invested the right money with the right companies and profited form it. What has he done with the money? I mean, he has helped employ everyone at a living wage as opposed to demanding other people pay more money to employees right?
+TheWeakMinded You need to watch his other video where he states the wealthy don't create lots of jobs, consumers do. Without consumers the wealthy cannot depend on themselves to buy their own products. Again try to find a society where large wealth inequality sustained itself, you won't see one. My company employees people but only at profit we all work overtime to make them rich just to sustain ourselves. The contractors we use in China have nets outside their buildings for the suicide jumpers its a matter of time before people revolt. Also I don't know of a job that doesn't require some type of labor, how much skill does it take my trash guy to load in the trash and push a button? Not much but he makes $14 an hour. Now how much skill does it take someone to walk them through resetting their cell phone and getting back all their contacts or setting up a network tether? Those customer service people make $9.50 per hour, my son is one of them...your logic is wrong.
After watching this video, Im still an advocate for the pitchfork.
+3MonkeesInDenial No hatespeech? Some groups must be identified as necessary to hate. how do you intend to do that?
+Carlos Spicyweiner
yes even though Haneaur is clued up there are plenty of rich bastards which are not...
interesting that he suggests raising the minimum wage - I can imagine all the laisset faire economists having their minds blown
Carlos Spicyweiner Yep, because who among them has listened on a large enough scale? And how many powerful people are acting on it? Not enough. In fact, most seem to actively work against what this man said.
Any weapon you can arm yourself with will be as effective as a pitchfork against a machine gun.
As you should be. This guy is unapologetic. He wants others to change, but he's a champion for capitalism. SMH.
Eight years later and the pitchforks still haven't come. I honestly wonder how much a glutton for punishment we are
We love to attend churches that don't believe in Jesus or God and we love to vote for people who have nothing but contempt for those who vote for them. That adds up to a dysfunctional species whose tenure here has a use-by date that's fast approaching. Pitchforks? What a joke.
I remember this from a while back so I found it to make this point. The name of the pitchfork is Bernie
Yeah a lot of lefty pitchforks are Bernie supporters and occupy Wall street participants, but you also need to recognize right pitchforks, the pitchforks just came in Washington DC, this is a sad day of America, Jan. 6th, 2021, mark this date.
Haha, the most blunt pitchfork in the shed!
Regular people don't work long hours to survive. They work long hours so rich people can own several homes and yachts.
They signed up for a job and agreed to the work. Why shouldn't the person who took on the risk of starting and running a company not enjoy the fruits of his labor. People complain about not having a job, then when they get a job complain that they have one
chevytheplayer The quality of the job matters. Even in silicon valley there’s a constantly growing number of working homeless, because their wages haven’t increased at the rate of cost of living. The issue is, the people who set the rent and set the salaries are the same.
@@chevytheplayer Employees take on significant risk joining a company, often moving to a different town, with no guarantee the company will still want them 3 months down the line. All this while not being paid enough to sustain basic needs like rent, childcare, healthcare. This is reality for a lot of working class people today.
@@lilacdoe7945 The price of rent/food/etc is out of the businesses control. If you think about it rent goes up because demand from normal people looking to live in that area, if people decided they don't want to live in that area and/or pay high rent the prices would go down. So even if a company paid more wages so people could "afford" rent, rent would just get higher as those people would use their higher wages to rent and we'd be back at square one. This is why a crappy apartment in NYC cost more then a luxury apartment in Alabama. If Alabama apartments charged the same as NYC apartments they would go out of business because people in Alabama don't make wages that can afford that kind of rent. Supply and demand.
@@Sevish If you factor in traveling employees I can see your point, but the vast majority of employees get hired within 25 miles of where they live. An employee can quit at any time to accept a better job offer, the CEO basically has to go down with the ship if things go badly. They say 90% of businesses fail within the first year, the founder of the company took the risk and overcame the odds of loosing everything just to start the business so of course he should be the highest paid because his decisions guide the entire company. I'd recommend trying to start your own business, and you'll see how things work from their perspective and understand why a business doesn't have the luxury of paying high wages to everyone
Nothing trickles down. It all bubbles up.
Trickle Down Economics
Trickle Down Economic
Trickle Down Economi
Trickle Down Econom
Trickle Down Econo
Trickle Down Econ
Trickle Down Eco
Trickle Down Ec
Trickle Down E
Trickle Dow
Trickle Do
Trickle D
Trickl
Trick
Can ya all feel it? The golden shower of trickle down economics...oh wait, it's just the rich pissin on us again.
trickles side ways... when starting a business you borrow money...they become share holders... while loosing they keep feeding you... the moment the government gives a brake... wipes out the middle class, these guys pay back their shareholders, now ther company has no debt but the consumers are wiped out so nobody can buy anything business closes and unemployment rises... if this happens accross the board like in 2008 the value of the dollar drops the value of the economy falls 50% and theyn you hope Obama will fix it alone... since it takes 8 years to fix the previous 8 years...people blame it on Obama and elects trump...stupid idiots... how many cycles will we have to survive to get this simple concept in our heads...?????
@@lohphat It was a trick all along.
Like anger bubbling up?
Awesome presentation! If only all the 1% felt the same way!
Excellent! He took the blinders off. Need more plutocrats to think critically, just like this man. He’s not trying to be a good person, he is instead proposing changes to a system that will fail if it continues to be out of balance. He understands what has happened in the history of humanity when economies have become imbalanced. War, death, social unrest. And all people- even the rich have struggled when it hits the fan. It’s a inconvenient truth for the rich.
Pitchforks? I think we can do much better than that.
The US citizens have more guns than the military. And have you seen these Darpa war bots? Bahahahaha. They can't even walk.
People think I'm being cruel when I cite the French Revolution as inspiration. I think they should stop being such docile weaklings and agree with me and stop whining that I'm cruel.
Save Net Neutrality Anti-Republican Yup. To quote John F. Kennedy: "Those who make peaceful revolution impossible will make violent revolution inevitable."
I haven't heard of any assassinations involving high explosives, a dread disease, or murderous drones. I guess the dross just aren't pissed off enough, eh?
a thriving middle class with basic morality is essential
that is what built our fading Democratic Republic.
Just treat your employees and customers as you would be treated..Simple.
Stop exploiting people and start RESPECTING them
Silly peasant. Go eat some Lobster and Filet Mignon.
Love his speech. Thank you. I get tears in my eyes. Sounds like Roosevelt.
Yeah. Okay. So there is 1 that is still a human.
And he is 100% right.
However, it is noteworthy that he seems more driven by fear of being lynched rather than bettering life for his fellow man.
He's making a pragmatic argument because it's the argument most likely to keep his audience from shutting out his message. He established his credibility by talking about his wealth, talking to his audience assuming that they are also rich and well-connected, and then told them why their own behavior is a problem for themselves.
It's an effective persuasion tactic.
No my friend, fear is not driving him, he gets it. He realizes that if we continue down this road, we as a nation will no longer exist, for even if they try a police state type tactic, we will no longer exist, if we grab pitch forks, we no longer exist. Making the middle class strong again, is the only way we continue to exist. This why we will have Bernie Sanders as Pres. in 2020. yes, kicking and screaming will be the elite and corrupt politicians on board with a Sanders Pres. It is the only way to save this nation, for Bernie is the one running who has the answers and will fight for his policies. No one else running can beat Trump, no matter how much mainstream media try,s to prop any of them up. Too centrist. America ran a centrist last time and see was beaten by an idiot. Only Bernie has the policies and will to beat Trump. Sure CNN can run polls asking 65 yrs old and older who the want to win the Dem nomination, and they go towards Biden, but that is rigging the results to favor Biden, we all know this. So again the powers that be are trying to tell us who to vote for, but this time it won't work, that is why the keep putting up some one else and saying "how about Mayor Pete" he is gay educated etc etc. We say no. Bernie is our only chance. I am 56 yrs old and I know if anyone else other than Bernie gets the nomination, then we have Trump for 4 more yrs. So watch out for the fake news and their corrupt friends and vote right this time or else it is on us if Trump is re elected. All of us know that Bernie would of beat Trump in 2016. DNC and fake news cheated America and gave us Trump. Remember that next time they hold someone up and say hey vote for this person.
@@mywebtv4u Hope you can live through Trump for an additional 4 Years because the whole of the Dems have been exposed, busted and broken. Maybe by 2028 signed a concerned Canadian Good luck with the Bernie and OAC thingy...
First, he knows that many people, particularly in America today, have a jaded view of any claim based on morality. Second, if it were valid to infer he is amoral, why would that matter? At least he is standing for a course of action that would give us a sustainable future, which hardly anyone bothers to do anymore.
Peoples standard of living rises every decade ... he's virtual signalling to the liberals because whatever happens he will ALWAYS be comfortable ... if we go Socialist all those people living on welfare will no longer be able to put their hand out ... they will have to WORK for meagre scraps that socialist countries give it's citizens
True capitalism should include investment first in its employees.
Gary Manning YES!
Aka as not capitalism but socialism.
That's what top companies do. Too bad you're working in a third tier company.
But how will daddy afford my next yacht?
Lol that's not capitalism
Thank you Sir. I am happy that you have the courage and understanding to know and speak the truth about our country ❗️
Excellent talk! I'd love to see Nick Hanauer use his vast wealth to promote this speech. Create some ads with it!
Send it to your plutocrat friends, or have a them over for dinner and show it to them, and make a plan to put into practice what you are preaching.
But most of all, use the money to get people into political races who believe in this same philosophy and who will fight corruption, not embrace it.
Sept. 2019: You're damn right the pitchforks are coming for you. Since you gave this talk large corporations had had their taxes cut in half. Trickle down economics is now on steroids. Income inequality is getting worse under Trump. There are more and more homeless living on our streets. A reckoning is coming, and I fear it is going to be horrible.
as it should be, these ppl busked from the labors of the hardworking. Ppl have more power than they think. All this time the rich influenced the gov and made the laws to benefit them.
Yep. I plan on starting up a pitchfork rental company for circumstances precisely like this.
I’m kidding, of course, but given the current situation, I wouldn’t be surprised if something like that ended up being somewhat profitable.
Some of the worse victims of the plutocracy are Trump's staunchist supporters. Their pitchforks are out to use against people advocating economic fairness. I think America has reached a tipping point of stupidity that we may not recover from.
Bob Jones please elaborate on how trump did the opposite of what he promised. Be specific, I will absolutely join your side if you provide facts and the results of his action. Please be kind.
Pitchforks are coming, horrible but necessary.
This guy SAW the populist movement a couple of years before Brexit, the Bernie Sanders presidential campaign, the Trump election, the rise of Marine Le Pen and Jair Bolsonaro. Cheers, Nick, I watched this video back in 2014 and I'm glad it's still circulating, though its telling that it hasn't yet reached millions of views. I created my whole politics largely based on your writings and it has served me well.
This is the most logical argument I've heard for raising the minimum wage. With so much of the US economy being service based this has a chance to work. Great video and has almost a million views. However Grumpy Cat has a video with 22 million hits. And our "news" media only cares about inflammatory coverage that amplifies ratings. My social media feeds are filled with memes. It's time for people to wake up and make a change before my new pitchfork business takes off.
My my my, what a difference a few years makes. Seattle is falling into the ocean and restaurants are closing left and right due to overhead costs
Join the forces Comrade.
How soon the bankers, lawyers, and politicians have forgotten the guillotine.
It's coz the masses have allowed themselves to be pacified by the idea that "you too can make it and be like me, just work hard" a-la the ever so pervasive American Dream
They don’t need to. They just get guys like this hack in the video to make you believe it is someone else. They laugh while you lose rights and become more beholden to them.
They got bunkers its all good you and I are not invited.
Don t forget retailers ( food, clothing, shelter) their greed really hits home. If your lucky enough to have one.
They haven't 'forgotten' it. They're proactively taking steps to prevent it being erected.
How refreshing to hear this from a plutocrat, even if it's five years ago. I don't think many of his kind jumped on the bandwagon though from what I can see.
I bet he doesn't get invited to as many cocktail parties now
lol
I bet he voted for trump.
He's the guy the other money-hoarding sociopaths are using as their front man to test the waters. They'll juggle a few figures after reading the comments here, and go "phew.". They'll be delighted to know they can sit on the gold pile a bit longer. But don't worry. The climate chaos is coming for all of us. Their money hoard will be meaningless when they are stuck in a bunker staring out at an apocalypse landscape. Wake up sociopaths, wake up! You're relics from the last century.
The people have no bread? Then let them eat cake!
QU'ILS MANGENT DE LA BRIOCHE
Let them eat Princesses!
At last one who's got the balls to say it!
I hope the message is spread. Pitchforks are already up (again) here in France.
Americans are too soft and the police too strong.
@Dennis Young We are a Fascist, Crony Capitalist, Oligarchy. Nixon and Reagan brought in this change with a "new" economic model, before then we used a form of Keynesian economics.
In the mean time, the French have taken to the streets in a massive Yellow Jacket uprising, which is spreading throughout Europe. They're just not carrying pitchforks.... Yet. - Plutocrats should have listened to this man.
Better, they're carrying Molotovs and beating riot police at their own game
Today's plutocrats are idiots. 90% of them were handed their money from daddy, like Trump who went bankrupt 8 times and can't invest and knows nothing about finances. These people can't plan long term. These things repeat themselves every 80-90 years (strauss howe generational theory and cliodynamics). I respect self made men who worked their butts off inventing or doing something legitimate to help the world, not these decadent fools who grew up in wealth and can't even invest in the stock market. Studies show second generation rich people, like the koch brothers, are usually rent seekers (because they are unable to invest). They mooch off the governmenht, bribe politicians to start wars to enrich them.
I’m honing my scythe and sharpening my pitchfork as I write this...
It’s Time, and this man is aware that it cannot continue if the world is to become what we all aspire to. Compassion, kindness, fairness, openness, acceptance of difference, and a decent standard of living for all. We are in the greatest consciousness shift in human history, and fortunately there are rich men who see the folly of extremes and recognise that balance is necessary. His only mistake, in my view, is that economies need to continually grow, and not recognise that Communism and Capitalism are sides of the same coin. There will for some time, people who need financial support to survive, but as we improve our society, so will the lives of all those in need.
Nick is a good guy. I've been listening to his podcast, Pitchfork Economics, for about a year now and he's the real deal.
Best TED talk ever, I've been thinking this for years before the crash.
Strange that this isn't on one of those major TED stranges with the TED guy asking questions afterwards.
groMMit1981 Same.
thats because this talk was the only one banned ny TED
Thank you so much for bringing this message. It breaks my heart that no one has listened. We’re in 2020 and it has gotten nothing but worse. I feel this is the source of the Heroin epidemic we are now facing. Despair and it’s counterpart, greed, is killing this country. Meanwhile we fight over which nepo will be the next president. I have no power to help, I pray there’s someone else that will. 🙏
This article was dated August12, 2014. I don't know if this just resurfaced this time. I hope the people now has heard this. He makes a lot of sense and it is the truth. But, I think he is a different kind of Plutocrat, one who has a 'humane' heart, one who has a heart for the lower and middle class. We need a President like him, a people President. I hope I was not just mesmerized.
The best Ted talk I've heard this far.
Enjoy it b4 it's taken down. Lol.