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

The speaker, a self-identified plutocrat, discusses the dangers of rising economic inequality and advocates for a shift from trickle-down economics to middle-out economics. He highlights the importance of a thriving middle class for economic prosperity and suggests that raising the minimum wage can benefit both workers and businesses. The speaker calls for a new form of capitalism that is more inclusive and effective, emphasizing the need for investment in the middle class and infrastructure to ensure long-term prosperity.

What does the speaker attribute his success to?

• Hard work and intelligence

• Family connections

• Luck and risk tolerance

• Technical skills and coding

What does the speaker predict if economic inequality continues to rise?

• A stronger capitalist democracy

• A shift towards a neo-feudalist society

• Increased technological advancements

• A decrease in global trade

What economic model does the speaker advocate for?

• Trickle-down economics

• Middle-out economics

• Keynesian economics

• Supply-side economics

According to the speaker, what is a key benefit of raising the minimum wage?

• Decreased worker productivity

• More customers for businesses

• Higher business taxes

• Increased unemployment

What example does the speaker use to illustrate the success of raising the minimum wage?

• Chicago

• Seattle

• Los Angeles

• New York City

What does the speaker suggest is necessary for a thriving economy?

• Increased automation

• Lower taxes for the wealthy

• More billionaires

• A strong middle class

What does the speaker propose as a new kind of economic system?

• New capitalism

• State capitalism

• Feudal capitalism

• Trickle-down capitalism

What role does the speaker believe government should play in the economy?

• Minimize regulations

• Create conditions for prosperity

• Focus solely on defense spending

• Privatize all public services

What does the speaker identify as a major flaw in trickle-down economics?

• It increases government size

• It assumes the rich will drive the economy

• It leads to rapid technological change

• It focuses too much on the middle class

What does the speaker believe is essential for capitalism to work effectively?

• Focus on luxury goods

• Elimination of taxes

• Concentration of wealth

• Inclusion of many people