How is democracy supposed to work when so many people are so angry and hostile even to suggestions about change?
|By: DSWright Friday June 27, 2014 12:21 pm|
Though Charles and David Koch may be grabbing the headlines promoting a 1% neo-feudal agenda, not everyone in the upper echelons of the American plutocracy is on board. Nick Hanauer, a super rich venture capitalist, recently wrote a piece condemning neoliberalism – often called “trickle-down economics” – saying the current economic system is not only unfair and causing resentment but counter-productive to a thriving middle class saying “These idiotic trickle-down policies are destroying my customer base.”
|By: David Dayen Thursday May 17, 2012 2:00 pm|
Nick Hanauer is a venture capitalist who wrote a well-received op-ed at Bloomberg last year on how taxes should go up on the rich to “reward job creators.” In an upset to what passes for conventional wisdom in Washington, Hanauer wrote that despite being a rich person, he’s never been a “job creator,” and that “rich people don’t create jobs, nor do businesses, large or small.” Rather, strong aggregate demand from a viable and broad middle class creates jobs by creating the need for more goods and services. And soaring US inequality harms that job creation engine.
These are hardly controversial ideas from an economic standpoint, but in the context of the national conversation last year, they sounded revolutionary. So TED, the conference devoted to “spreading ideas,” signed Hanauer up for a talk. The talk was basically a recapitulation of this published op-ed; it’s not like the ideas were hidden somehow. But TED got cold feet and decided to scotch the talks.