Summary of Beware, Fellow Plutocrats, the Pitchforks Are Coming

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Billionaire Nick Hanauer makes a strong case for investing in the middle class and closing the growing income gap in the United States. Claiming he is neither a liberal nor a do-gooder, the plutocrat grounds his arguments in solid economic theory, promoting “new capitalism” while admonishing the rich to change the status quo before the masses revolt. getAbstract welcomes Hanauer’s unique perspective on such a provocative, hot-button topic.

In this summary, you will learn

  • How the widening income gap in the United States threatens all citizens,
  • Why the theory of trickle-down economics is obsolete and
  • What a shift to “new capitalism” would entail.
 

About the Speaker

Billionaire entrepreneur and venture capitalist Nick Hanauer is a proponent of a $15 minimum wage.

 

Summary

Nick Hanauer is an “unapologetic capitalist” who has made billions as an entrepreneur and venture capitalist. He ascribes his success to great luck, fortuitous birth, good timing, a high risk threshold and a knack for forecasting trends. Hanauer sends a warning to his fellow plutocrats: He predicts ...

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