"I am a capitalist, and after a 30-year career in capitalism... I'm not just in the top one percent, I'm in the top .01 percent of all earners. Today, I have come to share the secrets of our success, because rich capitalists like me have never been richer... How do we manage to grab an ever-increasing share of the economic pie every year? ... here's the dirty secret. There was a time in which the economics profession worked in the public interest, but in the neoliberal era, today, they work only for big corporations and billionaires... We could choose to enact economic policies that raise taxes on the rich, regulate powerful corporations or raise wages for workers... But neoliberal economists would warn that all of these policies would be a terrible mistake, because raising taxes always kills economic growth, and any form of government regulation is inefficient, and raising wages always kills jobs. Well, as a consequence of that thinking, over the last 30 years, in the USA alone, the top one percent has grown 21 trillion dollars richer while the bottom 50 percent have grown 900 billion dollars poorer, a pattern of widening inequality that has largely repeated itself across the world. And yet, as middle class families struggle to get by on wages that have not budged in about 40 years, neoliberal economists continue to warn that the only reasonable response to the painful dislocations of austerity and globalization is even more austerity and globalization."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Nick Hanauer in The dirty secret of capitalism -- and a new way forward Ted Talk, (July 2019)
https://en.wikiquote.org/wiki/Wealth
Revision History
No revisions have been submitted for this quote.
Categories
Wealth
229 quotes on TrueQuotesView all quotes by Wealth β
Related Quotes
"Let none admire That riches grow in hell; that soil may best Deserve the precious bane."
"Effodiuntur opes irritamenta malorum."
"You often ask me, Priscus, what sort of person I should be, if I were to become suddenly rich and powerful. Who can dβ¦"
"The little sister of the Poor * * * * The Poor, and their concerns, she has Monopolized, because of which It falls toβ¦"
"I am rich beyond the dreams of avarice."
"Opum furiata cupido."
"All gold and silver rather turn to dirt! As 'tis no better reckon'd, but of those Who worship dirty gods."
"Our Lord commonly giveth Riches to such gross asses, to whom he affordeth nothing else that is good."
"Those whom we strive to benefit Dear to our hearts soon grow to be; I love my Rich, and I admit That they are very goβ¦"
"Embarras des richesse."