Summary of Beware, Fellow Plutocrats, the Pitchforks Are Coming
Raising the minimum wage expands the market and benefits all.
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- Why the theory of trickle-down economics is obsolete
- What a shift to “new capitalism” would entail
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