podcast, Nick Hanauer and David Goldstein answered listener questions about the economic impact of the coronavirus pandemic. Listeners reached out via Twitter, voicemail, even Instagram DMs with a lot of questions — too many to address in a single episode.
Hanauer pointed out that there is no evidence that coronavirus will spontaneously create a more inclusive form of capitalism: "I was baffled by how passive people were about these super-unfair arrangements before the virus," he exclaimed, adding that he's even more perplexed by that passivity given current events. He calls this well-intentioned belief that the wealthiest members of society will see the error of their ways a kind of "neoliberal framing.
Hanauer thinks this resentment is a logical response. "One of the reasons that we're having to bail out all of these industries," he said, "is that the industries themselves have been made fragile by decades of shareholder value maximization" instead of "building resilience." So the record-breaking corporate profits of the last 12 years were privatized in a series of grotesque stock buybacks for shareholders and huge payouts for executives, but the bill for coronavirus damages are being socialized and absorbed by all taxpayers, Hanauer says.
The fed brought the economy down you silly leftists
Kindly amend your link. When clicked it always goes to unrelated websites with nude contents therein.
FakeNews
and because of an incompetent President completely out of depth. I want a President who believes in SCIENCE not fiction. 'Here’s Trump at his rally...in South Carolina dismissing worries about the coronavirus as the 'new hoax'' Feb 28, 2020 atrupar
Nothing to do with corporate greed and malpractice. Everything has to do with how laws are being set by government to enable this behavior. Corporate actions are just reflection of government incentives to be greedy and layoff people for that government can pick up the tab.
Damn true!
All what happened now is a product of GREED.
When the corporate malfeasance spoken of is incentivized by 'bailouts' with actions taken by the Federal Reserve and Congress, thereby being the true moral hazard, what else can anyone suspect? Fix the root causes of the problem and let the free market economy work.
Oh so we didn’t lay off 1/4 of the country because they shut all the businesses down to “flatten the curve?” At least left is admitting its now because they hate America and the American economy and would prefer socialism
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