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Whoa...somebody finally gets it!

Posted: Fri Jun 27, 2014 12:27 pm
by Upsetter
And its the owner of Amazon of all people?!?
The model for us rich guys here should be Henry Ford, who realized that all his autoworkers in Michigan weren’t only cheap labor to be exploited; they were consumers, too. Ford figured that if he raised their wages, to a then-exorbitant $5 a day, they’d be able to afford his Model Ts.

What a great idea. My suggestion to you is: Let’s do it all over again. We’ve got to try something. These idiotic trickle-down policies are destroying my customer base. And yours too.

It’s when I realized this that I decided I had to leave my insulated world of the super-rich and get involved in politics. Not directly, by running for office or becoming one of the big-money billionaires who back candidates in an election. Instead, I wanted to try to change the conversation with ideas—by advancing what my co-author, Eric Liu, and I call “middle-out” economics. It’s the long-overdue rebuttal to the trickle-down economics worldview that has become economic orthodoxy across party lines—and has so screwed the American middle class and our economy generally. 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.

Which is why the fundamental law of capitalism must be: If workers have more money, businesses have more customers. Which makes middle-class consumers, not rich businesspeople like us, the true job creators. Which means a thriving middle class is the source of American prosperity, not a consequence of it. The middle class creates us rich people, not the other way around.

Read more: ... z35rTeSOCq

Re: Whoa...somebody finally gets it!

Posted: Fri Jun 27, 2014 12:49 pm
by BigCliff
First non-family investor, not owner. But yes, its extremely well written and makes great points.

I especially like this part:
The only way to slash government for real is to go back to basic economic principles: You have to reduce the demand for government. If people are getting $15 an hour or more, they don’t need food stamps. They don’t need rent assistance.
Duh. Its amazing to me that this is the first time I've seen these dots connected.

Re: Whoa...somebody finally gets it!

Posted: Fri Jun 27, 2014 12:54 pm
He's been pounding this drum for a little while now. You get the impression his homies would like him to shut up and go away, but he seems to have some staying power- I hope enough to make a difference. I find him to be pretty much on the money.

He's got a TED talk that's worth a listen.

Re: Whoa...somebody finally gets it!

Posted: Sat Jun 28, 2014 4:16 pm
by ditchdoc
Logical and reasonable. Too simple for some folks to grasp.