Thursday, May 17, 2012

Censorship or editorial judgment?

Occupy Together has posted on Facebook a controversial TED talk given by venture capitalist Nick Hanauer. Hanauer says it's a mistake to claim that increasing taxes on the rich will interfere with job creation. He calls this "an article of faith for Republicans" that is "seldom challenged by Democrats."

Jobs are not created by rich people or by capitalists, Hanauer argues, but by a "circle-of-life" type of "feedback loop" between consumers and businesses. If ordinary consumers don't have the resources to make purchases, no jobs are created. Capitalists such as himself only hire more workers as a last resort after demand has increased so much that more workers are absolutely necessary. If tax policies adopted in the US since 1980 that favor the rich really worked, "we would be drowning in jobs."

TED originally failed to post Hanauer's talk, as reported by Ezra Klein and GeekWire. A National Journal post said that TED decided Hanauer's lecture was "too partisan." TED curator Chris Anderson insisted that this was not a matter of censorship, but of editorial judgment, then released the Hanauer video so that viewers could judge for themselves.

I thought that Hanauer gave a vivid description of a fairly standard progressive argument about what causes prosperity or unemployment. What do you think?

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