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The fundamental law of capitalism is: when workers have more money, businesses have more customers, and need more workers. The idea that high wages equals low employment, it's absurd.
Nick Hanauer
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Nick Hanauer
Age: 65
Born: 1959
Born: January 1
Entrepreneur
Venture Capitalist
New York City
New York
Needs
Capitalism
Wages
Workers
Employment
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Businesses
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Money
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More quotes by Nick Hanauer
Now one person doing the job of one and a half. So as an employer I can get two people to do the work of three, and think about what that does for profits.
Nick Hanauer
I was more conservative when I was younger. But I don't think that I've moved left - I think the country has moved right.
Nick Hanauer
I think the idea that giant profitable corporations should pay their workers enough so that they don't need food stamps - since when is that left wing? How did that become leftie? That doesn't seem leftie to me. That seems common sense.
Nick Hanauer
If it was true that lower taxes for the rich and more wealth to the wealthy leat to job creation, today we would be drowning in jobs.
Nick Hanauer
When businesspeople take credit for creating jobs, it's a little like squirrels taking credit for creating evolution. In fact, it's the other way around.
Nick Hanauer
Raising the minimum wage is very efficient. Everybody's on the same playing field, it's a very simple rule, it doesn't require a lot of administration, you don't have to negotiate anything. It just is what it is.
Nick Hanauer
You can go back 150 years and literally find the same people saying the same thing in the same way. If we have to pay you more, it will be bad for you. And that's because saying that is a much more polite way of saying, I'm rich, you're poor, and I would prefer to keep it that way.
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Raising the overtime threshold - something that is about to happen. This is more complex so not as many people understand it, but it's equally consequential.
Nick Hanauer
Fast food workers are all the governor has power to enact. Your state legislature is held hostage by the same nitwits that hold hostage the federal [government]. People who have confused suffocating collectivism, which is bad, for a necessity to solve collective action problems, which is what all human endeavor is based on.
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If you care about real change, deep structural change, that involves politics, and all politics is friction. It takes leadership, and the willingness to create that friction, that leads to social change.
Nick Hanauer