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TED Business

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

41.2K Ratings

🗓️ 12 July 2021

⏱️ 18 minutes

🧾️ Download transcript

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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