Thursday, May 17, 2012

Nick Hanauer at TED: Economics 101

Want to learn some basic economics? Want to learn why the claim that the ultra wealthy are "the job creators" is bunk? Do you think a billionaire venture capitalist might have some insights on these topics?

Watch this video of Nick Hanauer's speech at the recent TED conference, a video that TED thought was so controversial that they suppressed it initially. Listen to Mr. Hanauer explain that even though he may earn hundreds or even thousands of times what the average worker does, that he does not generate enough demand to make up demand not coming from that average worker.

The claim that the wealthy are job creators is a myth. The same voodoo economics that was discredited 30 years ago. Watch the video!

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