© Associated Press
"When employers stop thinking about employees as costs to cut, but instead as customers, they see it is in their self interest to raise the minimum wage. We need to change their concept of self interest."
Nick Hanauer, a venture capitalist who was one of the first investors in Amazon, has the distinction of being one of America's few progressive billionaires. We spoke to him about the class war—which he is busily fighting.
Hanauer drew attention last year for writing
an op-ed in Politico warning his "fellow zillionaires" that "the pitchforks are coming" if something is not done to address America's growing economic inequality. Since then, he has been producing a steady stream of
blog posts and
essays calling for higher pay for low-wage workers and other measures designed to boost the fortunes of the declining lower and middle classes.
Yesterday, the Seattle-based investor was in New York
testifying in favor of a $15 per hour minimum wage for fast food workers. He stopped by our office afterwards to talk.
Gawker: Why did you decide to speak at the fast food wage hearing today?
Nick Hanauer: I flew out to do testimony obviously because they asked me to, but [also] because I was at the forefront of the effort to pass $15 minimum wage in Seattle, and have been collaborating with the people who are trying to make that happen across the country.
Gawker: And your message is: it worked in Seattle, and it can work here?
NH: Yeah.
My message is that the counterclaim—which is that if wages go up, employment will go down—is a scam. It's a con job. It's an intimidation tactic. There is absolutely no evidence anywhere that it's true.
On the contrary, where you find high wages you usually find low unemployment.
Comment: It is good to hear some sane voices in this insane world. Hope this group gets some traction.