TWL #4 Ongoing Penguins, Social Exposure and the video too controversial for TED

Finally, you may not know this but recently there were grumblings that TED had decided not to post a speech by Nick Hanauer….they explained why and here is the video (not on TED but YouTube)

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3 Responses to “TWL #4 Ongoing Penguins, Social Exposure and the video too controversial for TED”

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  1. Carl says:

    Ye gods! What an awful talk. It deserved to be censored. Typical Keynesian (read: Ptolemaic) crap. I say this even though I also support getting rid of a bunch of tax deductions used by the rich. I couldn’t stomach the talk long enough to hear what kind of business he was in, but he is wrong in general about customers preceeding employment. For any product with a lead time, employment preceeds consumer product by months or even years. Many a paycheck comes out of working capital, not sales. In the investment world they speak of “cash cows;” i.e., businesses which are in the mode which he describes.

    Tax cuts for the rich do not increase net investment if those tax cuts are financed by deficit spending. Deficit spending decapitalizes the private sector — as it subsidizes the rich.

    The working class declines compared to the ownership class because:

    * Government deficits are price supports for those who have money to lend.
    * The end of communism increased the supply of labor with respect to capital worldwide.
    * Mass immigration — legal and illegal — of poor immigrants has boosted the supply of ready workers chasing the same supply of land and capital here in the U.S. (The glory days of the working class in the 1950s was a time of low immigration.)

    If you want to narrow the wealth gap you need to increase the pool of savings with respect to labor. Cut the deficit. Get rid of the mortgage deduction. Make municipal bonds taxable. Create incentives for the working class to save if you don’t want the rich to be the only investors.

  2. Leo Dimilo says:

    LOL, thanks Carl. I won’t give my opinion on the lecture. What I found is interesting is how the national journal angled this…othewise the lecture probably would have been a non-story.

  3. Carl says:

    Read the National Journal piece.

    Wealth gap too controversial a topic?? Only on right wing talk radio. Puhleese!

    The Wonder Pets aren’t controversial, but I bet a talk by the Pets on teamwork wouldn’t get published either.

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