A New Kind of Economy — An Interview with Andrew Yang

My honest feeling is that the entire capitalism/socialism framing is decades old and unproductive. So, what I’m suggesting is that we need to evolve to the next stage of capitalism, which prioritizes human wellbeing and development. If someone were to say to me, for example, hey, you’re for universal health care, and that’s an idea I associate with socialists…I would shrug and say, sure. [Laughs.] You know? I just think the labels are unfortunate. People have very strong associations with each one.

A friend of mine, Eric Weinstein, said a couple of things that I thought were very profound. First, he said we never knew that capitalism was going to be eaten by its son—technology. Second, we have to become both radically capitalist and radically socialist in different aspects of American life and the economy. And I think both of those things are true.

I just don’t think it’s constructive to try and pick a spot in this arbitrary capitalism/socialism spectrum. What I believe is we have to redefine our economy and re-write the rules so that it centers around us. Capitalism’s efficiency and GDP are going to have an increasingly nonexistent relationship to how most Americans are doing.

Andrew Yang – A New Kind of Economy — An Interview with Andrew Yang

What we need: more social innovation

The reality is that no one is more concerned about the impact of AI on society than the people who are building it. Almost always, the more someone knows, the higher his or her concern level is.

Some might ask, “Isn’t it their fault? Aren’t they the ones building the technology that is going to replace workers?” But technologists, VCs, and entrepreneurs are simply doing all they can to push their companies and products forward. It is not their fault that the gains are being concentrated in the hands of a very few, and it’s nearly impossible for them to know and account for the downstream social and economic impacts. It’s OUR job—that is, it’s the responsibility of our government and leaders to account for the impact of innovation on human well-being.

Unfortunately, we are decades behind. And we need to speed up fast.

One investor said something to me on Tuesday that struck me as profound. “At this point, we don’t even need much more technological innovation. We could be busy for a long time just applying the tech we already have. What we really need is much more social innovation.” He’s on to something. He’s a good man who is supporting my campaign. And there are many others like him.

Andrew Yang – Yang 2020