This is the TED Talk that has caught so much attention. The Sapling Foundation, owner of “TED” (technology, entertainment, design) initially declined to air it, and demand had to grow on its own. Finally there was enough whining and complaining that TED was forced to air it. It’s making the rounds now.
In it, Nick Hanauer says some plainly true things that are a stark contrast to the spirit of the times. He makes lots of money, but doesn’t imagine himself a “job creator.” That function, he says, is the product of a feedback loop, with middle class consumers buying products acting as the real job creators. So low taxes for the wealthy has no influence on the number of jobs available to fill. (Quite the opposite, actually.)
That point is so basic that it takes whole university economics departments to obfuscate it beyond recognition. Sadly, that is the function of economics as we know it – not to discover truth, but to hide it.


