By Murray Sabrin
The decision by Amazon to pull out of building a New York City headquarters has ignited a debate over growth, ("Amazons exit reignites a debate over growth," February 17).
According to the article Nick Hanauer, who was one of the early investors in Amazon and identified as a progressive activist and writer, decries tax incentives as an example of egregious trickle-down economics. Instead, he and a former Clinton administration advisor are calling for "middle – out economics."
Mr. Hanauer states confidently, "The thriving middle class is the cause of economic growth." This is incorrect. A middle class is the result of investment and production. Mr. Hanauer's own actions prove that. He invested in Amazon, because he obviously believed the new online book service would be success. He did not "invest" in Seattle's middle-class.
Despite Mr. Hanauer's mistaken assertions regarding economic growth, the truth of the matter is there is no shortcut to creating a middle-class other than to have a vibrant free-market economy based upon investment and production.