Nick Hanauer Professions : Venture capitalist Born : 1959 Browse All Authors Top 44 quotes by Nick Hanauer 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 fundamentals law ideas The person earning the federal minimum wage of $7.25 isn't going out to eat at restaurants. They're not taking piano lessons. They're not going to the gym or the yoga studio. They're not sending mom flowers on Mother's day. What good is this person in the economy? If you raise it to $15 an hour, they're doing all of those things. And all of a sudden, not just business thrives, but small business thrives. Nick Hanauer mom flower mother 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 wings ideas thinking My message is that the counterclaim - which is that if wages go up, employment will go down - is a scam. It's a con job. It's an intimidation tactic. There is absolutely no evidence anywhere that it's true. On the contrary, where you find high wages you usually find low unemployment. Nick Hanauer scams wages jobs 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 would-be today jobs 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." Nick Hanauer pay people years But can we please stop insisting that if low-wage workers earn a little bit more, unemployment will skyrocket and the economy will collapse? There is no evidence for it. The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense. Nick Hanauer minimum-wage unemployment littles 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 squirrels creating jobs Raising the minimum wage allows business people to stop thinking about workers simply as costs to be cut and allows you to start thinking about workers as customers to be cultivated. Nick Hanauer cutting people thinking I was at the forefront of the effort to pass $15 minimum wage in Seattle, and have been collaborating with the people who are trying to make that happen across the country. Nick Hanauer effort country people The only reason to have a 300-foot-long boat is because they're bigger than 200-foot-long boats. Nick Hanauer boat feet long The most pro-business thing you can do is to help middle-class people thrive. Nick Hanauer class helping people 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 care real social Raising the minimum wage a lot across the board would make a big difference. It's not the only thing, but it's an indispensable part of solving the problem. Nick Hanauer minimum-wage boards differences 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. Nick Hanauer confused government people The idea that high wages equals low employment, it's absurd. Nick Hanauer employment wages ideas 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 threshold complexes people 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 minimum-wage administration simple The overtime threshold is to the middle class as the minimum wage is to low-wage workers. Nick Hanauer minimum-wage middle class 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 jobs two thinking Similar Authors Bill Gurley venture-capitalist Douglas Leone venture-capitalist David Sze venture-capitalist Chamath Palihapitiya venture-capitalist Greg McAdoo venture-capitalist Fred Wilson venture-capitalist All Authors
