A week after President Joe Biden’s fiery State of the Union address focused on re-growing America’s middle class, Abby has a lively conversation with millionaire reformer Nick Hanauer about what Biden is doing and why it’s so important. Hanauer, a venture capitalist and activist, has long been sounding the alarm on our inequality crisis, warning that trouble is coming our way if nothing is done to address the problem. In fact, he argues that that trouble will likely involve angry people with pitchforks. We got a preview, he says, when President Donald Trump's supporters stormed the Capitol: “The toxic stew that is created when you make the tiniest sliver of us extremely wealthy, while everyone, even people in the 90th percentile feel like they're falling behind …It just makes people mad and it should make people mad. I’m very sympathetic to that anger.” According to Hanauer, President Biden’s “middle-out” economic policies make him America’s first “post-Reagan” president, and that gives him hope. But much more still needs to change the system which among other things, gives, “moral cover to shitbags.” It’s important to take power from the very rich, he says, because they won't give up power voluntarily. “Jeff Bezos,” for instance, “will never wake up and say ‘Hey, I should really run Amazon.com differently.’” There aren’t rewards for empathy at the very top, Hanauer tells Abby. For billionaires like Bezos, Zuckerberg, and Musk the rewards come from “ being cold-blooded and exploiting people”.
Follow Nick Hanauer on Twitter or Facebook. His podcast is Pitchfork Economics.
EPISODE LINKS
Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania (American Economic Review, Vol. 84, No. 4, September, 1994)
Raising the Minimum Wage Doesn’t Kill Jobs; It Boosts Productivity, Says ITIF (ITIF)
2021 US GDP: $23.99 trillion (Bureau of Economic Analysis)
Data about the Capitol rioters serves another blow to the White, working-class Trump-supporter narrative (The Washington Post)
Power and Peril: 5 Takeaways on Amazon's Employment Machine (NY Times)
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com