“Fellow plutocrats, I think it may be time for us to recommit to our country, to commit to a new kind of capitalism which is both more inclusive and more effective, a capitalism that will ensure that America’s economy remains the most dynamic and prosperous in the world” — Nick Hanauer
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In this quote, Nick Hanauer is directly addressing other wealthy “plutocrats” like himself. He is arguing that it may be time for the wealthy elite to re-commit themselves to supporting America’s economy and country in a new way.
Hanauer calls for a “new kind of capitalism” that is both more inclusive of all citizens and more effective at generating broad prosperity.
He wants plutocrats to embrace a form of capitalism that shares benefits more widely and ensures economic opportunity for more people. By doing so, Hanauer believes this can keep the American economy as the most dynamic and prosperous in the world.
So in essence, he is pushing other wealthy individuals to support reforms to make capitalism work better for all Americans, not just the rich, through a more inclusive and effective system that maintains U.S. economic strength.