Chris Hughes on How to Craft a Thriving Market
Over the last several years, both parties in the US have been drifting away from laissez-faire thinking about the economy, and more towards the view that the state has an active role in shaping markets. You have Republicans talking about stricter anti-trust and sovereign wealth funds, and of course Democrats embracing things like industrial policy efforts in key strategic sectors. But how do you design markets well? When does it fail? And what is the history of this type of thing in the US. In this episode, we speak with Facebook co-founder-turned-economist Chris Hughes, who has published the new book Marketcrafters: The 100-Year Struggle to Shape the American Economy. In this conversation, recorded at the New York Public Library in April, we talk about his research on the history of marketcraft in the US, and how that study of history informs his understanding of today's economic policymaking.
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Recode Decode: Facebook co-founder Chris Hughes
Facebook co-founder Chris Hughes talks with Recode's Kara Swisher about his recent New York Times op-ed, "It's Time to Break Up Facebook."
In this episode: Why Hughes wrote the column; how he met Mark Zuckerberg; how the 2016 election changed his view of Facebook; Hughes' role in the early days of Facebook; the company's "missionary zeal"; Zuckerberg’s “unchecked power” and reactions to the column; "He cannot fix this"; how the FTC screwed up; Facebook Live; Zuckerberg’s interest in Roman emperors; why has Facebook continually failed to fix itself?; the backlash to Hughes' column; how a government-ordered breakup would work; Instagram and WhatsApp; Should Zuckerberg step down?; the FTC’s $3-5 billion fine; the case for a new digital regulatory agency; Tristan Harris' "human downgrading" theory; and will Zuckerberg listen?
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Recode Decode: Facebook co-founder Chris Hughes
Chris Hughes, the co-founder of Facebook and former owner of The New Republic, talks with Recode’s Kara Swisher about his new book, “Fair Shot: Rethinking Inequality and How We Earn.” In it, Hughes argues that working people should receive a guaranteed income, paid for by the top one percent of earners in the U.S. He cites an “immense amount of evidence” that cash improves health, education and more, and talks about how his Economic Security Project is working to advance a modernization of the Earned Income Tax Credit, which he calls “guaranteed income.”
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