The dirty secret of capitalism | Nick Hanauer

TED Business

TED

Business, Modupe Akinola, Ted Business Podcast, Business Leadership Podcast, Ted Talks Business, Ted Modupe, Ted Talks

4 • 1.2K Ratings

🗓️ 12 July 2021

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rising inequality and growing political instability are the direct result of decades of bad economic theory, says entrepreneur Nick Hanauer. In a visionary talk, he dismantles the mantra that "greed is good"—an idea he describes as not only morally corrosive, but also scientifically wrong—and lays out a new theory of economics powered by reciprocity and cooperation.

No lesson this week as we prepare for the new season, but we'll be back again soon.

Transcript

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0:00.0	Ted Audio Collective
0:11.0	Hi, everyone.
0:12.0	I'm Medupa Akinola and this is a Ted Business Bonus episode.
0:16.0	Capitalism often gets critique for being exploitative and for creating economic inequality.
0:22.0	But it's unusual to hear this type of critique from someone like Nick Hanauer
0:27.0	and incredibly successful entrepreneur and venture capitalist.
0:31.0	In this talk, Nick puts his own financial success on trial.
0:36.0	He dismantles the mantra that greed is good and highlights the moral failings and bad science underlying this mantra.
0:45.0	He lays out five rules of a new, more sustainable economic system, one powered by reciprocity and cooperation.
0:53.0	We'll be back soon with more full-length Ted Business episodes.
0:57.0	But until then, this one will give you plenty to think about.
1:06.0	Support for this podcast comes from BCG.
1:09.0	There are so many urgent questions in the minds of business leaders today.
1:13.0	What will the economy look like in six months?
1:15.0	Should you be investing in generative AI for your company?
1:18.0	Is the metaverse real or just hype?
1:21.0	And what can you do to hold on to your best employees?
1:24.0	The so-what from BCG is a podcast featuring award-winning British journalist Georgie Frost
1:29.0	interviewing BCG's leading thinkers and doers to get you the answers.
1:33.0	It's about making sense of today and preparing busy leaders and executives for the day after tomorrow.
1:38.0	Listen to the so-what from BCG, wherever you get your podcast.
1:44.0	Hi, this is Laura from Ted Partnerships.
	...

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