Nick Hanauer: The dirty secret of capitalism -- and a new way forward

The video discusses the flaws of neoliberal economics, highlighting how it has led to increased inequality and economic instability. It argues that neoliberal assumptions, such as market equilibrium and self-interest, are incorrect and calls for a new economic model based on cooperation and inclusivity. The speaker emphasizes that economic laws are choices, not natural laws, and advocates for policies that promote social welfare and equitable growth.

What does the speaker attribute the increasing wealth of the rich to?

• Better education

• Neoliberal economic policies

• Technological advancements

• Hard work and intelligence

According to the speaker, what is a major flaw in neoliberal economic theory?

• It promotes too much competition

• It ignores the role of technology

• It focuses too much on innovation

• It assumes markets are always in equilibrium

What does the speaker suggest is the true driver of economic prosperity?

• Self-interest

• Government intervention

• Capital investment

• Cooperation and reciprocity

What is one of the principles of the new economics mentioned by the speaker?

• Markets should be left alone

• Markets must be tended like gardens

• Inclusion is a luxury

• Corporations should only focus on shareholder profit

How does the speaker suggest we view the laws of economics?

• As flexible choices

• As historical constants

• As unchangeable natural laws

• As purely scientific principles