Nick Hanauer
Nick Hanauer
Nick Hanaueris an American entrepreneur and venture capitalist living in Shoreline, Washington...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
absolutely constantly discomfort dismay family rituals routines work
I have absolutely no rituals or routines other than I work obsessively and think constantly about my work, to the dismay and discomfort of everyone I employ. And my family.
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Government does create prosperity and growth by creating the conditions that allow both entrepreneurs and their customers to thrive; balancing the power of capitalists like me and workers isn't bad for capitalism - it's essential to it.
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You see, we capitalists will never actually ask you to work overtime. I don't even track your hours. I just make it clear that I trust you to get your job done in the time allotted. And then I hand you twice as much work as you can reasonably do in a 40-hour week.
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There is no earthly reason why Walmart and McDonald's and Walgreens and these other giant, profitable institutions should have one worker in need of public assistance. It's ridiculous.
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In a sufficiently prosperous society where people specialize sufficiently, and where enough of the crappy work is done by machines, all work becomes art.
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The higher the unemployment rate, the more leverage I have to 'encourage' you to 'do what it takes' to keep your job. And so you work even more hours, pushing unemployment up and wages down. And that, my friends, is one of the little tricks that keeps you poor and me rich.
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Prosperity in human society is misunderstood. The difference between a rich and poor society is the number of problems that society solves for its citizens. That means technological innovation is the source of all prosperity, but with every tech innovation, you also get disruption - ultimately, social and civic disruption.
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The thing about a real economy is that it actually is like the game of Monopoly in the sense that when one person has all the money, the game is over. And in a game of Monopoly, of course, that's quite charming, but in a real economy, it's much more problematic.
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The thing I've learned most about poverty is how expensive it is to be poor. It's super easy to pay rent every month if you earn enough to pay rent and have a decent job. It's super hard to pay rent if you need a coupon from the state and then need to go find an apartment that will accept that coupon and only that coupon.
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Tech innovation is something societies have to pursue as vigorously as they can. We have to innovate civically and socially at the same rate; otherwise, you create unfortunate disruptions, and that's where you have people opposing technological innovations.
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Middle-out economics rejects the old misconception that an economy is a perfectly efficient, mechanistic system and embraces the much more accurate idea of an economy as a complex ecosystem made up of real people who are dependent on one another.
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Most people believe, mistakenly, that wealth in a human society has something to do with money, but that's not true. Money is simply a medium of exchange. Prosperity in a human society is the accumulation of solutions to human problems that we create for ourselves.
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When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.
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We rich people have been falsely persuaded by our schooling and the affirmation of society, and have convinced ourselves, that we are the main job creators. It's simply not true.