Nick Hanauer
Nick Hanauer
Nick Hanaueris an American entrepreneur and venture capitalist living in Shoreline, Washington...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
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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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Business people do two things with their time fundamentally. The first is that they try to create sales, right? Revenue, key to business. But the other thing they devote their time to equally is cost containment. That is to say, how to not create jobs. Because the fewer jobs you can create for the revenue you create, the more profit you make.
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The middle class creates us rich people, not the other way around.
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The truth is that all civic and social change is friction. Politics is friction. The only way you can bend the arc of history is to create that kind of friction, which is something that makes most people incredibly uncomfortable but which, for whatever reason, because of my upbringing or because of my genetics, is something that doesn't bug me.
create human medium money people problems prosperity simply society solutions wealth
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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If low taxes were the way that people like me created wealth, then we'd be starting our companies in the Congo or Somalia or Afghanistan, but we're not. We come to places where there are lots and lots of customers.
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Rising inequality is toxic to growth. High levels of inequality exclude people - both as innovators and customers - diminishing both innovation and demand.
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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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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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All human endeavor, all human civilization, is the act of solving collective action problems. Should we put out our own fires, or should we have a fire department? Should we build roads, or should we hack our way through the woods from one factory to another?
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A thriving middle class is the source of growth in a technological, capitalist economy. Investing in the middle class is the most pro-business thing you can do.
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The thing about us businesspeople is that we love our customers rich and our employees poor.
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The only really expensive thing in our family budget, frankly, is private air travel.
Prosperity isn't something that squirts out of rich people.