Tag Archives: Economy

TED: Part of the Solution or Part of the Problem?

Unless you’ve been living under a rock for the last few years, you’ve heard of TED.  On their About page, TED present themselves as a “nonprofit devoted to ideas worth spreading.”

I’ve watched a few TED presentations and gotten value out of them.  Mind you, one may not always agree with the presenter.  But the speakers are always eloquent and present their ideas clearly.  Along with @WFMU, who tweeted the following link, I’m wondering why TED initially declined to make public Nick Hanauer’s iconoclastic presentation on income inequality.

You might expect Nick Hanauer, venture capitalist and one of the first non-family investors in Amazon, to toe the line about the rich being job creators, but he goes in an entirely different direction.  Here’s the video, finally released due to public criticism of TED:

The phrase “job creator” is already over.  It’s simply a shrill sound bite that invites one to put the subject on a pedestal and bow down in awe.  No need to think too hard.  We need to look behind the curtain to see what’s really going on.

 

The No-Growth Trap: An Endless Loop

I came across this story in The National Interest after the New York Times’s David Leonhardt tweeted it.  Densely written, the incisive view on our stagnant economy and politics is well worth your time.  My only quabble is this sentence.

“The borrowing that the government needs to do to fund its shortfall absorbs the savings that in a fully employed economy would otherwise go into investments in new factories, new equipment, new office buildings, new research and new houses.”

While we’re good at designing products in this country, the actual assembly of them is farmed out to foreign countries.  I see little incentive for American companies to build new factories and engage in production at home.  Corporate disinterest in domestic manufacturing will continue the stagnating of the U.S. economy.