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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. "
Nick Hanauer
Inequality
Growth
People
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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? "
Nick Hanauer
Problems
Fire
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" The thing about a real economy is that it actually is like the game of Monopoly in the sense that when one person has all the money, the game is over. And in a game of Monopoly, of course, that's quite charming, but in a real economy, it's much more problematic. "
Nick Hanauer
Real
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Game
" A lot of people think that persuasion is all about values and aligning values. I largely disagree. I think persuasion generally, and political persuasion more particularly, has much more to do with explaining in new ways and connecting dots in new ways than just invoking emotions and values. "
Nick Hanauer
New
Values
Think
" The only really expensive thing in our family budget, frankly, is private air travel. "
Nick Hanauer
Family
Travel
Only
" It is true that rich people can spend more money than middle class people, but there's this upper limit on what we can spend. I drive a very nice car, but it's only one car. I don't own a thousand, even though I earn a thousand times the median wage. I have a few jackets, not a few thousand. "
Nick Hanauer
Nice
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" In a sufficiently prosperous society where people specialize sufficiently, and where enough of the crappy work is done by machines, all work becomes art. "
Nick Hanauer
Enough
Work
Society
" 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. "
Nick Hanauer
People
Money
Problems
" 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. "
Nick Hanauer
Key
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" If Jeff Bezos and I had started Amazon.com in a poverty-stricken corner of Africa, there would have been no job creation because there would be no people to buy the stuff from Amazon.com. The difference here is the American middle class, which is by every measure the most extraordinary economic achievement in the history of the world. "
Nick Hanauer
Job
People
World
" Amazon didn't create any jobs. Amazon probably destroyed a million jobs in our economy. "
Nick Hanauer
Economy
Jobs
Amazon
" The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense. "
Nick Hanauer
Will
Better
Bad
" We became enthralled with the view that wealth trickled down from the top and that if you poured money into rich people, sort of like an ingredient, prosperity and jobs would squirt out of them like donuts. And if you understand economies in the 19th-century way, that view is plausible, and I think a lot of people accepted it. "
Nick Hanauer
View
Rich
Money
" We rich people have been falsely persuaded by our schooling and the affirmation of society, and have convinced ourselves, that we are the main job creators. It's simply not true. "
Nick Hanauer
True
Society
Rich
" I have a 15-year-old boy, and we are about to give him car keys, which seems like an act of insanity when you know what you know about 15-year-old boy behavior. But in 2018, we'll have self-driving cars, and it will be so much better. My son may be the last generation of kids who learns to drive. "
Nick Hanauer
Son
You
Drive
" I'm not the smartest guy you've ever met, or the hardest-working. I was a mediocre student. I'm not technical at all - I can't write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. "
Nick Hanauer
Risk
Think
Tolerance
" The thing about us businesspeople is that we love our customers rich and our employees poor. "
Nick Hanauer
Love
Us
Rich
" Prosperity in human society is misunderstood. The difference between a rich and poor society is the number of problems that society solves for its citizens. That means technological innovation is the source of all prosperity, but with every tech innovation, you also get disruption - ultimately, social and civic disruption. "
Nick Hanauer
Society
You
Problems
" I think the people who end up being extraordinarily successful - it's been my observation - tend to care enormously about status, particularly business people, right? Because the only point of money, you know, the only reason to have a 300-foot-long boat is because they're bigger than 200-foot-long boats. "
Nick Hanauer
Boat
Think
Business
" 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. "
Nick Hanauer
History
Truth
Change
" I have absolutely no rituals or routines other than I work obsessively and think constantly about my work, to the dismay and discomfort of everyone I employ. And my family. "
Nick Hanauer
Family
Other
Think
" Diversity is America's most valuable resource. It is what makes us the most innovative nation on Earth. "
Nick Hanauer
Earth
America
Diversity
" Tech innovation is something societies have to pursue as vigorously as they can. We have to innovate civically and socially at the same rate; otherwise, you create unfortunate disruptions, and that's where you have people opposing technological innovations. "
Nick Hanauer
You
Same
People
" I have, oddly, two ski houses - trying to sell one. "
Nick Hanauer
Ski
Trying
Houses
" 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. "
Nick Hanauer
Places
Taxes
Way
" We plutocrats need to get this trickle-down economics thing behind us: this idea that the better we do, the better everyone else will do. It's not true. How could it be? I earn 1,000 times the median wage, but I do not buy 1,000 times as much stuff, do I? "
Nick Hanauer
Economics
Everyone
Better
" Greed is a sin because humans are social creatures. And they simply cannot survive without the opposite of greed, which is cooperation. "
Nick Hanauer
Survive
Social
Sin
" I come from generations of progressive, atheist Jews. "
Nick Hanauer
Generations
Come
Atheist
" Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power. "
Nick Hanauer
Economics
How
Status
" Prosperity isn't something that squirts out of rich people. "
Nick Hanauer
Prosperity
Rich
Rich People
" The higher the unemployment rate, the more leverage I have to 'encourage' you to 'do what it takes' to keep your job. And so you work even more hours, pushing unemployment up and wages down. And that, my friends, is one of the little tricks that keeps you poor and me rich. "
Nick Hanauer
You
Me
Job