Why is the economy collapsing? Nick Hanauer and Daniel Priestley debate the wealth divide, why wages should be double what they are, what AI is doing to your job, and whether capitalism can still fix
First, I just want to thank you for putting together such a great show and an outstanding panel of guests. I really enjoyed listening to the different perspectives and appreciate the time and effort that went into making it happen. Thank you for sharing it with all of us.
I have a couple of observations here.
First, nobody mentioned or identified that corporations are essentially running the government. It's no surprise that big money, whether it be the banking industry, the technology industry, or the military-industrial complex, has tremendous influence.
Another observation I've made, having been employed primarily by small businesses, is that many of them have changed their business model to match that of large corporations. They are letting highly experienced, well-paid employees go and replacing them with lower-cost, less experienced, lower-paid young workers.
The culture has changed as well. In my experience, small business owners used to work side by side with their employees and had much more personal relationships with them. Today, I find that many small business owners are far more detached, and it's apparent in the workplace.
It used to be that there were only small businesses and nobody who owned them were extremely rich. Now the number of small businesses have been replaced by Amazon and large corporations and those at the top make billions. Nobody needs billions.
I had a small business for 30 years. In 2019 I had to sell to a national company. They bought out all my competitors in my area as well and I knew that I couldn't compete against them. They had deep deep pockets and economies of scale. They did pay me a great price for my business.
Many of my customers had already been bought out themselves by large corporations. And many of my other customers, or potential customers, wanted to deal with large corporations and not with "the little guy" .
This was all 7 years ago. I've talked to many of my old customers since, and most of them say that the service is a third of what it was with me.
The greatest problem facing virtually every country on Earth is that governments have built systems with ZERO ACCOUNTABILITY while assuming public servants have even a shred of honour.
Finally at 1 hour 40!mins, they finally mentioned Davos. This poverty’s engineered. Let’s face reality. Brilliant perspectives, but the corporatocracy is not designed for the little people!
Traveling to different countries really makes you see the detrimental effects of large corporations on society. Having gone to places like Beirut and Karachi, I see streets LINED with small shops that have been sustaining owners and families for generations. Even new shops are easy to open. There are no mega corporations or Walmarts that compete and monopolise goods and services. And in each shop they sell maybe ONE type of product or service: croissants, tires, flowers, nail salon, chocolate, women's haircut, men's barber shop, loose-leaf tea, antique art, wires, etc. High-quality products and services that are able to sustain people easily without needing to compete. Shop owners and employees sit very relaxed in their stores. Even if it's a slow day, they make enough to live well and peacefully. I actually agree that we need more small businesses. We just haven't seen it for many generations in the US because of the big sharks eating up all the marketshare. I would love to just walk outside to my local fruit vendor and buy fresh produce but I can't because they can't survive like that. Instead they work at a Walmart that destroyed so many small businesses a long time ago. People
According to inflation , I'm making less today than I did in 2003 . I've been in concrete construction for 28 years . These companies are preying on us who didn't have college or rich parents . They had to step it up after covid because the system was EXPOSED ! Most got $5-$10 raise . This shit has to CHANGE !! Working Class needs to shut the whole system DOWN ! We are NOT valued .
As the rulers become more nervous about the masses, you see more administrative rules, more surveillance, more secret courts, more secret police, and more gun control.
A strong middle class is built when people can work hard and still afford stability, ownership, and a future. When effort stops creating upward mobility, the problem is bigger than individual choices.
Do you like these types of conversations? Tap the like button on the video, that’s the best way to let me know you want more like this ❤ And if you haven’t already, hit subscribe - it’s completely free and it really helps the channel grow 🙏🏾appreciate you! - SB x
We use cookies, device fingerprinting and cross-device tracking to personalise content, serve targeted advertising, and analyse how you use our site across your devices. By clicking Accept all you consent to the use of these tracking technologies. Your data may be used to build a profile of your interests and show you personalised ads on other sites.
Privacy policy
Comments (20)
Daily Junction discussion mixed with clearly attributed comments from the original video provider.
Join in — free. Comments on Daily Junction are for members, so real names stay rare and bots stay out.
One field. We email you a 6-digit code — no password needed. Your comment is kept while you do it.
Under 13? You’ll need a parent’s OK first — it takes them one click.
I have a couple of observations here.
First, nobody mentioned or identified that corporations are essentially running the government. It's no surprise that big money, whether it be the banking industry, the technology industry, or the military-industrial complex, has tremendous influence.
Another observation I've made, having been employed primarily by small businesses, is that many of them have changed their business model to match that of large corporations. They are letting highly experienced, well-paid employees go and replacing them with lower-cost, less experienced, lower-paid young workers.
The culture has changed as well. In my experience, small business owners used to work side by side with their employees and had much more personal relationships with them. Today, I find that many small business owners are far more detached, and it's apparent in the workplace.
What I observe on a larger scale is that
The City i live in San Diego ca. Is Taxing us all into being equally poor! Thanks Todd & Elo.
Many of my customers had already been bought out themselves by large corporations. And many of my other customers, or potential customers, wanted to deal with large corporations and not with "the little guy" .
This was all 7 years ago. I've talked to many of my old customers since, and most of them say that the service is a third of what it was with me.
Yeah a nurse that works 40+ hours a week looking after the sick and dying is only worth £24-28k a year in the UK? Sure sure sure