1 vote

"Rich people don't create jobs" - Banned TED Talk: Nick Hanauer

Via Business Insider: "As the war over income inequality wages on, super-rich Seattle entrepreneur Nick Hanauer has been raising the hackles of his fellow 1-percenters, espousing the contrarian argument that rich people don't actually create jobs...


http://youtu.be/CKCvf8E7V1g

"The position is controversial — so much so that TED is refusing to post a talk that Hanauer gave on the subject. National Journal reports today that TED officials decided not to put Hanauer's March 1 speech up online after deeming his remarks "too politically controversial" for the site..."

(Chris Dujourski note - I am not smart enough to have an opinion on this issue. Posted merely for my own self-aggrandizement)



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Is this satire? I can't tell

Saying that consumers create jobs is like saying that the oak creates acorns because the squirrels eat them.

Jobs mean there is a demand for labor. There is always a demand for labor. It's just a question of what kind of labor we are talking about.

"All our words are but crumbs that fall down from the feast of the mind." - Khalil Gibran
"The Perfect Man has no self; the Holy Man has no merit; the Sage has no fame." - Chuang Tzu

I love it when TED bans talks. It increases awareness of them.

This guy made some interesting points. I'm just surprised he didn't at least admit that the rich like him have at least created jobs in China.

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

"Created jobs in China"?

Something tells me the people working in those factories would rather be working at their old jobs - like growing food and providing for their families.


http://youtu.be/PxymwN7nYQQ

Chris Indeedski!

Daily Paul cured my abibliophobia.

I don't disagree with your point about the quality of life

for the Chinese. http://andywrasman.files.wordpress.com/2012/09/chinese-worke...
But I don't think you can argue that rich people like the speaker haven't been creating jobs in China: http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/popups/exp...

Btw, it's not just Chinese whom wealthy Americans create jobs for in China. Aside from those living & working in Hong Kong: "According to the Sixth National Population Census conducted in 2010, there are 71,493 Americans residing in Mainland China, the second largest single group of foreign nationals.[4] Americans have been coming to China for job opportunities since 1994.[5] In the late 2000s and early 2010s, a growing number of Americans in their 20s and 30s headed to China for employment, lured by its faster-growing economy and lower jobless rate.[6] Many of them do basic work such as teaching English, a service in demand from Chinese businesspeople and students and a growing number are arriving with skills and experience in computers, finance and other fields.[7]" http://en.wikipedia.org/wiki/Americans_in_China It's an issue discussed in tech schools.

P.S. Although I don't think I often disagree with your values, I do sometimes disagree with your punctuation. :)

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

I don't think the speaker has thought his premise completely

through. The ones ultimately responsible for creating jobs are the salesmen, and the customers when they act as salespeople via word-of-mouth advertising. Some people seek the simple life, but most don't have to be 'trained' by a consumerist society to want nice/better/more things.

I had a point - I can just tell...

Oh yeah, here it is. His solution is to increase taxes on rich people, but I don't see how that would directly benefit the people. A statist solution would be to enforce a minimum wage, but there are strong libertarian arguments against such. Ultimately it rests on an educated consumer to support companies that choose to pay a living wage.

Chris Indeedski!

Daily Paul cured my abibliophobia.

Yeah, I know. Question marks go inside the quotes, even if

the original quote wasn't a question. Gerp.

Chris Indeedski!

Daily Paul cured my abibliophobia.

Actually, that's what I thought, too.

If I'm reading this correctly, this grammarian seems to think there *are* exceptions. http://www.grammarbook.com/punctuation/quotes.asp

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

Oh hey - right the first time!

Almost earned a visit from this guy:


http://youtu.be/VFEEa-jibhs

Chris Indeedski!

Daily Paul cured my abibliophobia.

Not necessarily. But maybe.

The way you phrased it, it sounded like you were simply asking a question: What?! Created jobs in China? How could you say that? Or just, Created jobs in China? Of course, then you really wouldn't have needed quotation marks at all. On the other hand, it would appear (according to that lady anyway) that IF you were asking me about something I said (a *statement* I'd made that you wished to quote), then quotation marks would stay with what I'd said and the question mark would go outside - applying to the *question* you were asking: in other words, if you'd said something like, My dear mdefarge, with all due respect, how on earth could you say "created jobs in China"? But, you did not say all that! So would the rule still hold with a question you only assumed would be "understood?" I don't know. So, you may have still earned yourself a visit from CMPunk. Or not. I do hope you realize I wouldn't have brought it up except for your introducing us to the guy. Btw, separated at birth? :) http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/20...

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

It's hard for me to understand my own thought processes...

let alone explain them, sometimes, but I think what I meant was that we have been conditioned to think that jobs are great, that people really want to work. To some degree work is soul-satisfying, but for the most part people work for the tangible rewards. In China people working in factories are more slaves than employees. Their civilization got along just fine for 5000 years without the recent industrialization and all the 'opportunities' it has provided the citizens. The pharaoh of Egypt provided plenty of jobs to the Israelites but it was no benefit to them either.

Is he right? Is he wrong? I don't know. The video came up randomly on youtube, I clicked it, it was interesting, I brought it here suspecting it wouldn't fly so well. But at least we're talking and thinking.

:)

Chris Indeedski!

Daily Paul cured my abibliophobia.

I do understand your point

I agree there are qualitative factors that need to be considered when comparing circumstances. And you don't need to convince *me* of non-tangible costs of industrialization. I guess where I might disagree with you, though, is that, well, to me it sounds kind of "parental" on your part. As deplorable as life in crowded cities might be in some ways, maybe Chinese YA's still consider themselves better off in a more modern environment vs. the conditions of rural poverty and perhaps olde-world customs they fled. But even if they would come to believe they were not better off, maybe they need to see that for themselves. But having said that...

just sticking with quantitative issues, here's a problem I have with all economic models I've seen discussed, including by Ron Paul. I think they're all *worthless* without defining, up front, "the domain." Capitalism operates w/in a system. If I'm a farmer and buy a car from you (my fellow community member), the way it's supposed to work is that, sooner or later, you and/or those you buy products from will buy some of my farm produce. How nice. We both end up with what we want or need! Except now, if I'm a farmer and buy a car from you, you might then buy your garlic from China and your tomatoes from Mexico. It's *still* a mutually beneficial system - for you and farmers in China a& Mexico, just not for me anymore. Ever see this? It makes me sick. http://www.youtube.com/watch?v=Lvl5Gan69Wo

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

Message read and received. Video viewed.

Too drunk to offer a cogent response at this time.

Chris Indeedski!

Daily Paul cured my abibliophobia.