Sunday, April 10, 2016

Nick Hanauer: Beware, fellow plutocrats, the pitchforks are coming

1 comment:

  1. Nick Hanauer is a venture capitalist who believes in the virtues of capitalism but he is also concerned about growing inequality undermining the basis of capitalism, that is middle class . He argues that if it continues like that, the impoverished middle class will take pitchforks and attack . But before this happens, the 'plutocrats' need to abandon the theory of 'trickle down' according to which if the rich become richer, the rest of the population will take advantage of it. Increasing wages is the most fundamental and necessary reform to save capitalism. Robert Reich is not advocating anything different in his last book 'Saving Capitalism'.