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

I like how he just casually mentions that money buys laws

"People are not paid what they're worth: they're paid what they're able to negotiate". Great quote

It’s amazing how programmed we are. I only started thinking about these neoliberal ideologies recently and why they are structured the way they are. This was as a result of having doing what I was told (go to school, get good grades, go to college then get a “good” job). I don’t know if it’s fortunate or unfortunate that even though I did all of that and categorically have a “good” job I can’t afford to procure a home nor pay comfortably for a car even with the immense discipline I have applied with my finances. It dawn on me one day that I pay over $1000 cad in taxes per month!! And everything else I buy is taxed so here I am pivoting everything I was told to make sense of this unlevelled playfield

"Greed is not good. Being rapacious does not make you a capitalist, it makes you a sociopath." So profound.

None of this is new. Henry Ford himself once wrote that he must pay his worker a decent wage as his worker is also his customer.

"If we want a new economics, all we have to do is choose to have it." .....except the choice is only in the hands of those who benefit from the existing system.

Wow! So nice to hear a human again! Is he really from the U.S??? If so, there is still hope for humanity!

The unfortunate part, he could be a poor man saying this as thousands of economic and finance professors have and not a single person would listen…he had to take your grandparents money and your third generations money for you to listen…He really is saying we stupid…He is giving us a great eduction.

Henry Ford advised: "There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible." Todays enterpreneurs do the exact opposite: make the worst quality that consumers will tolerate, sell for the hightest price they can get, paying the lowest wages they can.

When he says "all we have to do, is choose to have it" he means the 1% of the 1%, and they will NOT choose a new economics. They will conduct business as usual until they will have their choice taken away either by climate disaster, or mass unrest and class revolt

I liked the quote "People are not paid what they're worth: they're paid what they're able to negotiate." I think it directly points to the need for organized labor.

I've been looking for this 17 minutes for 40 years!!!!

The people who write the laws benefit from the current inequality so have no incentive to change the laws.

When you have a rich man telling you this and poor people crying in the name of banks and wall street, you know the world is gonna end soon.

It's real easy to say: good things, give promises. It's hard to implement them and make fair grounds for the rich and poor. . Because the rich don''t want to let go of a single penny. They just talk about it.

Nick I am with you and we need your accurate analysis of our failing economic system to be put in to practice. The big question depends on the wealthy 1% who have ALL the power to re organise our world. Politicians can not effect this massive change in society.

I'm surprised he didn't even mention the Federal Reserve and Quantitative Easing. It has had more negative impact on our economy than any other factor. By constantly increasing the money supply, the rich have gotten richer because most of that money goes to pumping up stock prices. Corporations have used it to buy back their stock instead of investing in new products and expanding their businesses. The average worker has suffered due to the increase in the prices of consumer goods caused by the increase in the money supply. Also, the second problem with our economy is money in politics. Ever wonder why so many politicians are millionaires? Political leadership was never meant to be a career. Corporations influence government by lobbying Congress and contributing to campaigns. This results in massive corruption. We need to take money out of politics. You shouldn't have to be wealthy to run for office.

CEO payment has raised from 12* average worker for them in 80s to 150* today. Even more tragic, they are generally not even good managers. That's why we consistently subsidize their failing companies.

This guy basically said “ I’ve done made my money over the past 40 years, you future capitalists give more of YOUR profits for the sake of social stability”. Why doesn’t he give his millions now.

Absolutely brilliant! Nick Hanauer, has hit the nail on the head. The Neoliberals need to get a check up, from the neck up, and start considering the advice that Nick has outlayed here, bascially, more exchanging things with others for mutual benefit and less greed by the governing neoliberal sociapaths of our global economies.