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" "You get that a lot. "If you care so much about taxes, why don't you pay more, and if you care so much about wages, why don't you pay more?" And I could do that. The problem is, it doesn't make that much difference, and I have discovered a strategy that works literally a hundred thousand times better...which is to use my money to build narratives and to pass laws that will require all the other rich people to pay taxes and pay their workers better. And so, for example, the 15-dollar minimum wage that we cooked up [in Seattle) has now affected 30 million workers. So that works better.
Nick Hanauer (born 1959) is an American entrepreneur
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So, market capitalism is an evolutionary system in which prosperity emerges through a positive feedback loop between increasing amounts of innovation and increasing amounts of consumer demand. Innovation is the process by which we solve human problems, consumer demand is the mechanism through which the market selects for useful innovations, and as we solve more problems, we become more prosperous. But as we become more prosperous, our problems and solutions become more complex, and this increasing technical complexity requires ever higher levels of social and economic cooperation in order to produce the more highly specialized products that define a modern economy. Now, the old economics is correct, of course, that competition plays a crucial role in how markets work, but what it fails to see is that it is largely a competition between highly cooperative groups -- competition between firms, competition between networks of firms, competition between nations -- and anyone who has ever run a successful business knows that building a cooperative team by including the talents of everyone is almost always a better strategy than just a bunch of selfish jerks.
Greed is not good. Being rapacious doesn't make you a capitalist, it makes you a sociopath. And in an economy as dependent upon cooperation at scale as ours, sociopathy is as bad for business as it is for society.... Neoliberal economic theory has sold itself to you as unchangeable natural law, when in fact it's social norms and constructed narratives based on pseudoscience. If we truly want a more equitable, more prosperous and more sustainable economy, if we want high-functioning democracies and civil society, we must have a new economics.
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Inclusion creates economic growth. So the neoliberal idea that inclusion is this fancy luxury to be afforded if and when we have growth is both wrong and backwards. The economy is people. Including more people in more ways is what causes economic growth in market economies...The third principle is the purpose of the corporation is not merely to enrich shareholders. The greatest grift in contemporary economic life is the neoliberal idea that the only purpose of the corporation and the only responsibility of executives is to enrich themselves and shareholders. The new economics must and can insist that the purpose of the corporation is to improve the welfare of all stakeholders: customers, workers, community and shareholders alike.