Pitchfork Economics with Nick Hanauer

The Guarantee: Inside the Fight for America’s Next Economy

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The Guarantee (with Natalie Foster) Nov 12, 2024

This week, Natalie Foster, co-founder of the Economic Security Project, joins Nick and Goldy to discuss her book The Guarantee: Inside the Fight for America's Next Economy. Foster argues that as the world’s wealthiest nation, the U.S. can ensure a basic economic floor for all by guaranteeing essentials like housing, healthcare, higher education, family care, good jobs, and income, regardless of race, religion, or location. Foster explains how giving people money might just be the key to growing the economy for everyone. Their wide-ranging conversation covers topics including the wealth gap, housing affordability, baby bonds, and the political dynamics surrounding guarantee programs.

Natalie Foster is the president and co-founder of the Economic Security Project and author of the book The Guarantee: Inside the Fight for America’s Next Economy. Natalie previously founded the sharing economy community Peers, and co-founded Rebuild the Dream, and served as Digital Director for President Obama’s Organizing for America.

Twitter: @nataliefoster

Further reading:

This episode originally aired on October 21, 2021.

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Revisiting How to Stand Up for Voting Rights (with Andrea Hailey) Nov 05, 2024

Voting is the cornerstone of a functioning democracy, yet access to the ballot is increasingly under threat in America. No matter who wins the Presidential race, it should be a priority to strengthen and expand accessible and secure voting. This election day, we’re revisiting a conversation we had in 2021 with Andrea Hailey, CEO of Vote.org, where we unpack the ongoing fight for voting rights and discuss how restrictive policies disproportionately impact marginalized communities. Hailey shares insights into the tools and strategies we can all use to ensure that every American has an equal voice at the polls. She also explains why voting access matters more than ever and how we can stand up for democracy by defending the right to vote.

Andrea Hailey is the CEO of Vote.org, the nation’s largest nonpartisan digital voter engagement organization.

Twitter: @votedotorg

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Stop Project 2025 Comic Book

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Project 2025 is All Trick, No Treat (with Peggy Bailey) Oct 29, 2024

As Election Day approaches, Peggy Bailey from the Center on Budget and Policy Priorities joins Paul and Goldy to discuss the devastating potential effects of the House Republican agenda and the Heritage Foundation’s Project 2025. The proposals, supported by candidates who will be on your ballot this November, include a wholesale dismantling of federal government programs, cutting benefits, shifting costs to states, and penalizing working families in order to slash taxes for the rich. Bailey reveals the massive economic disinvestment and inherent racism and discrimination in the trickle-down agenda of Project 2025 and the House Republican agenda, even as she emphasizes the need for the federal government to revitalize the economy from the bottom up with investments in those who have been marginalized.

Peggy Bailey is the Executive Vice President of Policy and Program Development at the Center on Budget and Policy Priorities. She previously served in the Biden-Harris Administration as the Senior Advisor on Rental Assistance to HUD Secretary Marcia L. Fudge. She also served as the Director of Health and Housing Integration for the Corporation for Supportive Housing, where she focused on Medicaid expansion and finding sustainable funding sources for the services that people with histories of homelessness and chronic health conditions need to maintain their housing.

Twitter: @PeggyBaileyDC @CenterOnBudget

Further reading:

Report from the Center on Budget & Policy Priorities: House Republican Agendas and Project 2025 Would Increase Poverty and Hardship, Drive Up the Uninsured Rate, and Disinvest From People, Communities, and the Economy

This episode originally aired on August 22, 2023.

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Acemoglu on Automation: The Nobel Laureate Vs. the Robots (with Daron Acemoglu) Oct 22, 2024

Since Daron Acemoglu just won the 2024 Nobel Memorial Prize in Economic Sciences alongside MIT Sloan professor Simon Johnson and University of Chicago professor James Robinson, we’re revisiting this powerful episode featuring Acemoglu’s insights from 2023. In his groundbreaking book Power and Progress, Acemoglu exposes how the elite have weaponized technology to tighten their grip on wealth and influence, and explains how we can ensure that technological progress works for everyone, not just the wealthy few.

Daron Acemoglu is the Institute Professor of Economics at MIT, the university’s highest faculty honor, and a 2024 Nobel laureate. For the last twenty-five years, he has been researching the historical origins of prosperity, poverty, and the effects of new technologies on economic growth, employment, and inequality. He is an author (with James Robinson) of The Narrow Corridor and the New York Times bestseller Why Nations Fail.

Twitter: @NarrowCorridor

Further reading:

Trio of professors win Nobel economics prize for work on post-colonial wealth

Democracy is in a ‘tough stretch.’ New Nobel winners explain how to strengthen it

Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity

The Narrow Corridor: States, Societies, and the Fate of Liberty

This episode originally aired on July 25, 2023.

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Stop the Steal: Revisiting Private Equity’s Plan to Pillage America (with Brendan Ballou) Oct 15, 2024

Private equity is looting America by exploiting vulnerable companies and extracting profits at the expense of workers, communities, and the broader economy. They've been buying up companies in every industry in the U.S. Economy and stripping them for parts. These massive firms have vast holdings across critical industries essential to the health and well-being of everyday people. Some recent examples include private equity's role in education, utilities, housing, and even in the healthcare sector, which led to the closure of hospitals and nursing homes, endangering public health. We thought it would be a good time to revisit this episode from 2023 with Brendan Ballou, a federal prosecutor and the author of Plunder: Private Equity’s Plan to Pillage America. In this episode, he explains how we can stop private equity’s plan to pillage America.

Brendan Ballou is a federal prosecutor and served as Special Counsel for Private Equity in the Justice Department’s Antitrust Division. Previously, he worked in private practice, and before that, in the National Security Division of the Justice Department, where he advised the White House on counterterrorism and other policies.

Twitter: @brendanballou

Further reading:

Plunder: Private Equity’s Plan to Pillage America

The Guardian - Slash and burn: is private equity out of control?

Break 'Em Up: Recovering Our Freedom from Big Ag, Big Tech, and Big Money

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Sometimes You Just Have to Ignore the Economists (with Zephyr Teachout) Oct 08, 2024

This week, Nick and Goldy are joined by Fordham Law professor Zephyr Teachout, who explains the urgent need for federal action on corporate price-gouging. Professor Teachout identifies misconceptions about price controls and highlights the failure of mainstream economists to recognize that price-gouging is a common practice, especially in light of skyrocketing corporate profit margins during the pandemic. Their conversation also unpacks the need for stronger antitrust enforcement, decreased market concentration, and more regulations aimed at protecting consumers in times of crisis.

Zephyr Teachout is a Professor of Law at Fordham Law School, where she focuses on the intersection of corporate and political power. She is also the author of multiple books, including Corruption in America: From Benjamin Franklin's Snuff Box to Citizens United and Break 'Em Up: Recovering Our Freedom from Big Ag, Big Tech, and Big Money.

Twitter: @ZephyrTeachout

Further reading:

The Atlantic - Sometimes You Just Have to Ignore the Economists

More Perfect Union - Why Are Diaper Prices Up 184 Percent? Two Corporations are Preying on Parents

The New Republic - A Very Good Sign: Kamala Harris Is Going Right at Corporate Greed

Find out if your state has a price gouging law here: NCSL Price Gouging State Statutes

Books By Professor Teachout:

Corruption in America: From Benjamin Franklin's Snuff Box to Citizens United

LIVE TO SEE THE DAY: Coming of Age in American Poverty

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Coming of Age in American Poverty (with Nikhil Goyal) Oct 01, 2024

This week, Nick and Goldy welcome sociologist Nikhil Goyal to discuss his new book, Live to See the Day: Coming of Age in American Poverty, which highlights the deep-rooted effects of generational poverty in America by focusing on the experiences of three young people in Kensington, Philadelphia. Their stories illustrate how systemic inequality and poor economic policies perpetuate a cycle of despair and intergenerational poverty. Goyal explains the limitations of traditional anti-poverty solutions like promoting higher educational attainment. Instead, he spotlights the need for direct cash transfers, robust public goods, and a public option for programs like healthcare, affordable housing, or even publicly owned grocery stores that directly address the causes of poverty.

Nikhil Goyal is a sociologist and former senior policy advisor on education and children for Senator Bernie Sanders on the Senate Committee on Health, Education, Labor, and Pensions and Committee on the Budget. He also developed a tuition-free college program for incarcerated people and correctional workers in Vermont. He is the author of the book LIVE TO SEE THE DAY: Coming of Age in American Poverty.

Twitter: @drgoyalnikhil

Further reading:

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Why do you continue to do this work? Sep 24, 2024

It’s our 300th episode! To mark this milestone, we’ve gathered some of the most thoughtful and inspiring answers to one of our favorite questions: Why do you do this work? Plus, Nick and Goldy share what keeps them in the fight for a better economy. We're deeply grateful for the wisdom of our incredible guests and, most of all, for YOU—our listeners—who’ve supported us along the way. Here’s to many more conversations unpacking who gets what and why in our economy, and how to build the economy from the middle out.

Love what you’re hearing on the pod? Follow us on social media using the links below for updates and spicy takes on the economy! And if you haven’t already, make sure to follow the show so you never miss an episode. While you’re at it, give us a rating and leave a review wherever you get your podcasts—it helps us reach more people interested in rethinking or better understanding the economy and want to build a better future. Thanks for listening!

Guests Featured:

Jared Bernstein - Chair, White House Council of Economic Advisors

Reshma Saujani - Founder, Girls Who Code and the Marshall Plan for Moms

Mark Blyth - Political Economist and author of Diminishing Returns: The New Politics of Growth and Stagnation

Rohit Chopra - Director, Consumer Financial Protection Bureau (CFPB)

Joseph Stiglitz (3-time guest) - Economist and author of The Road to Freedom: Economics and the Good Society

Caitlin Myers - Professor of Economics at Middlebury College and Co-Director of the Middlebury Initiative for Data and Digital Methods.

Kim Stanley Robinson - American Science Fiction writer and author ofThe Ministry for the Future

Marshall Steinbaum (2-time guest) - Assistant Professor of Economics at the University of Utah and a Senior Fellow in Higher Education Finance at Jain Family Institute.

Elizabeth Anderson - Professor of Public Philosophy at the University of Michigan and author of Hijacked: How Neoliberalism Turned the Work Ethic against Workers and How Workers Can Take It Back

Bharat Ramamurti - Former Deputy Director of the White House National Economic Council

Elizabeth Wilkins - Senior Fellow at the American Economic Liberties Project and former Director of the Office of Policy and Planning at the Federal Trade Commission

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Economics Needs More Socioeconomic Diversity (with Anna Stansbury) Sep 17, 2024

This week, Nick and Goldy are joined by MIT economist Anna Stansbury to discuss the troubling lack of socioeconomic diversity within the economics profession. Stansbury discusses her research from a paper she co-authored with Robert Schultz titled “The Economics Profession’s Socioeconomic Diversity Problem”, which reveals that a strikingly low percentage of economists come from less-advantaged backgrounds. They have a thoughtful discussion about how that lack of diversity affects the profession's ability to address issues of power, inequality, and social problems, and they highlight the need for more diverse perspectives in the profession to ensure a more inclusive and equitable approach to economic analysis. They also point out that diversifying the field is not just a matter of equity but is crucial for fostering innovative solutions to economic challenges.

Anna Stansbury is an economist and Assistant Professor of Work and Organization Studies at MIT Sloan School of Management. She is also a nonresident senior fellow at the Peterson Institute for International Economics. Her research primarily focuses on labor economics, with a particular emphasis on wage inequality, labor market power, and the dynamics of worker power within organizations. She recently co-authored a paper with Robert Schutls, “Socioeconomic Diversity of Economics Ph.Ds,” published by the Journal of Economic Perspectives.

Twitter: @annastansbury

Further reading: Socioeconomic Diversity of Economics PhDs

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Capitalism and Crises (with Colin Mayer) Sep 10, 2024

This week, Nick and Goldy talk to esteemed economist Colin Mayer, author of the book Capitalism and Crises: How to Fix Them, to explore the deep-seated issues plaguing modern capitalism, including rising inequality and environmental degradation. Mayer argues that the current profit-driven mindset of corporations often leads to societal harm, and he advocates for a paradigm shift towards a model where businesses profit by solving real human problems rather than creating them. Their conversation dissects the historical evolution of corporate responsibility, critiques neoliberal economics, and proposes solutions that redirect corporate focus toward societal benefit, and the urgent need for a more equitable economic structure that uplifts the middle class.

Colin Mayer is a distinguished academic in the field of finance and economics. He is the Peter Moores Professor of Management Studies at the Saïd Business School at the University of Oxford. With a background in economics and finance, Mayer has conducted extensive research on corporate finance, governance, and the role of business in society. His work has been widely published in academic journals, and he is the author of several books, including "Capitalism and Crises."

Further reading: Capitalism and Crises: How to Fix Them

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Kamala Harris and the New Democratic Economic Paradigm Sep 03, 2024

In the wake of the Democratic National Convention, Nick and Goldy take a close look at how middle-out economics has become the new center of the Democratic Party's economic policies, championing a new era of economic thinking that puts workers, families and taking on corporate power at the center, and breaking away from decades of top-down, trickle-down approaches. With echoes of President Joe Biden’s—and now former President Bill Clinton’s—call to build the economy from the bottom up and the middle out, Vice President Harris is seizing the middle-out mantle by declaring that building the middle class will be a defining goal of her presidency because in her words, “When our middle class is strong, America is strong.” Join us as we discuss how invigorating it was to see the Democratic Party coalescing around the idea that their economic policies should benefit the vast majority of working people in order to grow the economy.

Further reading:

The New Kamala - The American Prospect

Kamala Harris and the New Democratic Economic Paradigm - The New Yorker

Say It to My Face -The American Prospect

This episode originally aired on January 24, 2023.

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Revisiting the Legacy of the Fight for $15 (with Yannet Lathrop and Dr. T. William Lester) Aug 27, 2024

Over ten years ago, activists and civic leaders ignited the Fight for $15, a movement that was once seen as radical—even Forbes labeled Nick's support for a $15 minimum wage as “near-insane.” Today, the movement's achievements are undeniable: Higher wages for millions of workers, increased union membership, reducing the racial wealth gap, and now raising the federal minimum wage to $15/ hr is one of the central issues in the 2024 presidential campaign, with two-thirds of voters in support. We thought it would be a good time to revisit this episode from 2023, where Yannet Lathrop and Dr. T. William Lester discuss their report from the National Economic Law Project examining the legacy of the movement and all it has accomplished over the last decade.

Yannet Lathrop is a Senior Researcher and Policy Analyst for the National Employment Law Project.

Dr. T. William Lester is Professor and Acting Chair of Urban and Regional Planning at San José State University and Research Professor at UNC Chapel Hill.

Twitter: @NELPnews

Further reading:

Ten-Year Legacy of the Fight for $15 and a Union Movement

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The Crisis of Democratic Capitalism (with Martin Wolf) Aug 20, 2024

Martin Wolf, chief economics commentator at the Financial Times, joins Nick and Goldy to discuss his new book, "The Crisis of Democratic Capitalism." They explore the important-yet-fragile connection between capitalism and democracy, particularly in the context of rising inequality and political instability. Wolf articulates how the perceived success of democratic capitalism has begun to falter under the onslaught of economic policies favoring the wealthy and eroding the middle class. Ultimately, Wolf advocates for stronger social safety nets to ensure that democratic systems, as well as working and middle-class families, can thrive in an era dominated by economic upheaval.

Martin Wolf is the chief economics commentator at the Financial Times, known for his incisive analyses and authoritative perspectives on global economics and policy. With a distinguished career spanning several decades, Wolf has shaped public discourse on economic matters through his insightful columns and books. His latest book, "The Crisis of Democratic Capitalism," details how and why the marriage between democracy and capitalism is coming undone and what can be done to reverse this terrifying dynamic.

Twitter: @martinwolf_

Further reading: The Crisis of Democratic Capitalism

The Power to Destroy: How the Antitax Movement Hijacked America

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How the Anti-Tax Movement Hijacked America (with Michael Graetz) Aug 13, 2024

This week, Nick and Goldy are joined by Michael Graetz to discuss his new book, "The Power to Destroy: How the Anti-Tax Movement Hijacked America.” Graetz asserts that while the anti-tax movement is often overlooked, it has shaped policy by intertwining with issues of race and economic ideology, diverging from Keynesian economics in favor of neoliberal supply-side economics that results in extreme wealth accumulation at the top. He argues for major tax reforms, including a carbon tax and the implementation of a value-added tax, as potential solutions to creating a more equitable and sustainable tax code that would benefit the middle class. Their conversation also revisits the historical origins of the anti-tax movement in the United States and highlights how tax policy is not just shaped by economic theory— it’s also shaped by cultural and social differences.

Michael Graetz is a professor emeritus at Columbia Law School and Yale Law School and a leading authority on tax politics and policy. He served in the U.S. Treasury’s Office of Tax Policy and is the author and co-author of many books, including Death by a Thousand Cuts: The Fight over Taxing Inherited Wealth and The Burger Court and the Rise of the Judicial Right.

Further reading:

The Graetz Competitive Tax Plan, Updated for 2022

Death by a Thousand Cuts: The Fight over Taxing Inherited Wealth

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2024 Summer Reading List Aug 06, 2024

It’s Paul and Goldy’s summer reading list! In this week’s special episode, Civic Ventures Senior Fellow David “Goldy” Goldstein and Civic Ventures Writer Paul Constant recommend some of the hottest new economic and political books for your beach reading pleasure.

We want to know what you’re reading, too. Leave us a comment on Instagram, Twitter, Threads or YouTube!

Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available through your local library.

Every book mentioned in this episode:

In This Economy?: How Money & Markets Really Work - Kyla Scanlon

End Times: Elites, Counter-Elites, and the Path of Political Disintegration - Peter Turchin

The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism - Sebastian Edwards

Our Malady: Lessons in Liberty from a Hospital Diary - Timothy Snyder

Growth: A History and a Reckoning - Daniel Susskind

Empty Planet: The Shock of Global Population Decline - Darrell Bricker & John Ibbitson

A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism - Nelson Lichtenstein & Judith Stein

The Power Broker: Robert Moses and the Fall of New York - Robert A. Caro

The Road to Freedom: Economics and the Good Society - Joseph E. Stiglitz

Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy - Teresa Ghilarducci

New Nigeria County - Clare Brown

Unruly: The Ridiculous History of England's Kings and Queens - David Mitchell

New Groundwork Report Finds Corporate Profits Driving More Than Half of Inflation

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How Outsized Corporate Profits Raised Prices (with Lindsay Owens) Jul 30, 2024

This week, Nick and Goldy are joined by Lindsay Owens, Executive Director of the Groundwork Collaborative, to discuss Groundwork’s recent reports on corporate profiteering and price gouging during and after the pandemic. Owens attributes the record increases in corporate profits in the last few years to growing corporate concentration and lack of competition. She argues that these two factors gave companies an unprecedented level of market power, and therefore pricing power, which allowed them to exploit the supply chain crisis caused by COVID to drastically raise prices. Owens stresses the need for policy interventions to promote competition, transparency, and fair pricing in the market to ensure a more competitive and consumer-friendly economy.

Lindsay Owens is the Executive Director of the Groundwork Collaborative, known for her expertise in economic policymaking and her work on exposing corporate profiteering in price increases. She leads the organization's mission to create a more equitable economy, providing media commentary and advising policymakers such as Senator Elizabeth Warren, Minnesota Attorney General Keith Ellison, and Congressional Progressive Caucus Chair Pramila Jayapal.

Twitter: @owenslindsay1

Further reading:

Inflation Revelation: How Outsized Corporate Profits Drive Rising Costs

Big Profits in Small Packages

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Nick’s twitter: @NickHanauer

Connecting the dots on Biden's middle-out economic policies (with Heather Boushey) Jul 23, 2024

This week Nick & Goldy are joined by Heather Boushey, Chief Economist for President Biden's Invest in America Cabinet, for a deep dive into the transformative economic policies of the Biden administration. Boushey discusses the paradigm shift towards a middle-out economic approach to crafting economic policy and the impact of legislation like the American Rescue Plan, CHIPS Act, Bipartisan Infrastructure Law, and Inflation Reduction Act. Their conversation explores the importance of investing in infrastructure, clean energy, and manufacturing to drive growth and create good jobs. They also discuss the challenges of implementation, the success of the administration’s industrial policy, and its remarkable economic outcomes including record low Black unemployment, high new business applications, and equitable wage growth.

Even though this episode was recorded before President Biden announced he was withdrawing from the presidential campaign and endorsing Vice President Harris, this wide-ranging conversation offers plenty of valuable insight into the past, present, and future of middle-out economics.

Heather Boushey is a distinguished American economist who specializes in economic inequality and public policy. She serves on President Biden’s Council of Economic Advisers and is the Chief Economist for the Invest in America Cabinet. Before joining the Biden Administration, she was the co-founder and President of the Washington Center for Equitable Growth, a research organization dedicated to advancing evidence-backed ideas and policies that promote economic growth and reduce inequality.

Twitter: @HBoushey

Further reading:

Invest.gov

The Productivity–Pay Gap

The Road to Freedom: Economics and the Good Society

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Nick’s twitter: @NickHanauer

The Road to Freedom (with Joseph Stiglitz) Jul 16, 2024

Nobel Prize-winning economist Joseph Stiglitz joins Nick and Goldy to talk about his new book, "The Road to Freedom: Economics and the Good Society.” Stiglitz challenges the orthodox economic theories that have shaped our understanding of capitalism and argues for a new approach called progressive capitalism. Stiglitz also discusses the flaws of neoliberalism, popular misconceptions about freedom, and the widespread benefits of addressing issues like climate change and inequality. He shares insights on the need for a broader set of economic policies that prioritize the well-being of all people, not just the wealthy. Their discussion sheds light on the evolving landscape of economic thought and the hope for a more equitable and sustainable future.

Joseph Stiglitz is a Nobel Prize-winning economist and the best-selling author of multiple books on economics. He was also chairman of the Council of Economic Advisers under President Clinton and chief economist of the World Bank. He now teaches at Columbia University and is chief economist of the Roosevelt Institute. His latest book, The Road to Freedom: Economics and the Good Society, delves into the failures of the neoliberal economic model and presents a comprehensive critique of how "free" markets have led to various crises, including financial instability, inequality, and social unrest.

Twitter: @JosephEStiglitz

Further reading:

Further reading:

Making Sense of Chaos: A Better Economics for a Better World

The Code of Capital: How the Law Creates Wealth and Inequality

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The Code of Capital (with Katharina Pistor) Jul 02, 2024

This week, Nick and Goldy talk to Katharina Pistor, a legal scholar and professor at Columbia Law School, about her book "The Code of Capital: How the Law Creates Wealth and Inequality.” Pistor sheds light on how the law shapes the distribution of power and wealth in society. They explore the way that law's prioritization of capital has changed over time and its contribution to rising economic inequality within and between nations. Pistor also explains how we can reconfigure the legal playing field to address economic inequality.

Katharina Pistor is a legal scholar and author known for her expertise in the fields of law and finance. She is currently the Edwin B. Parker Professor of Comparative Law at Columbia Law School, where she also serves as the Director of the Center on Global Legal Transformation. Pistor has published extensively on topics such as property rights, financial regulation, and the role of law in shaping economic systems.

Her most recent book, "The Code of Capital: How the Law Creates Wealth and Inequality," explores the ways in which legal systems around the world have been designed to benefit capital owners and perpetuate wealth inequality.

Further reading:

Breaking down the South’s economic underperformance

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The Failed Southern Economic Development Model (with Chandra Childers) Jun 25, 2024

This week, Goldy and Paul talk to Chandra Childers, a senior policy and economic analyst at the Economic Policy Institute and author of their recent report on the Southern economic development model. Although the Southern economic development model is touted as a business-friendly strategy, it has devastating consequences for workers and families in Southern states. Childers explains how this economic model is rooted in racism and economic exploitation and has led to lower wages, weaker safety nets, and fewer opportunities for workers. They also discuss how some Southern states are bucking this trend and attempting to adopt more progressive policies, as well as the potential impact of renewed unionization efforts in the region.

Chandra Childers is a senior policy and economic analyst with the Economic Analysis and Research Network (EARN) at the Economic Policy Institute. Her work is primarily focused on supporting EARN’s state and local policy research and advocacy network in the Southern United States. Before joining the EARN team at EPI, Childers was a Study Director at the Institute for Women’s Policy Research.

Twitter: @ChandraChilders

Further reading:

The evolution of the Southern economic development strategy

Rooted in racism and economic exploitation

Democracy in Default: Finance and the Rise of Neoliberalism in America

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Democracy in Default (with Brian Judge) Jun 18, 2024

This week, Nick and Goldy are joined by political scientist Brian Judge, author of "Democracy in Default: Finance and the Rise of Neoliberalism in America." They delve into the historical roots of our current democratic crisis, exploring the role of liberalism in depoliticizing distributive conflicts and paving the way for the rise of neoliberalism. Judge sheds light on the impact of neoliberal ideologies on American policymaking and how liberalism's attempts to manage distributive conflict through the market have shaped our economic and political landscape—which gave leaders the opportunity to use the economic slowdown of the 1970s to install neoliberal policies that enriched the wealthy few for decades.

Brian Judge is an author and policy fellow at the Center for Human-Compatible Artificial Intelligence and the Berkeley Roundtable on the International Economy at the University of California, Berkeley. He is recognized for his recently published book, "Democracy in Default: Finance and the Rise of Neoliberalism in America," which delves into the intricate relationship between finance and politics in shaping the neoliberal economic landscape in the United States

Twitter: @realbrianjudge

Further reading:

Twitter: @PitchforkEcon

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The FTC's Renewed Fight Against Corporate Power (with Elizabeth Wilkins) Jun 11, 2024

After decades of slow and cautious movement, the Federal Trade Commission has suddenly kicked into overdrive. You’ve likely seen headlines about the FTC challenging corporate mergers and monopolies, loosening Big Tech’s chokehold on our digital lives, and fighting power imbalances that favor big corporations over American consumers. Elizabeth Wilkins, former Chief of Staff and Director of the Office of Policy and Planning at the FTC, joins Nick and Goldy to give a status update on the FTC's renewed focus on competition and broader antitrust enforcement, and to explain how the historical evolution of the agency has led to a lack of regulation and oversight in maintaining fair competition and consumer protection.

Elizabeth Wilkins is an expert in consumer protection and competition policy and a newly minted Senior Fellow at the American Economic Liberties Project. Previously, she was the Chief of Staff to the Chair and Director of the Office of Policy and Planning at the Federal Trade Commission. Before joining the FTC, Wilkins served as Senior Advisor to White House Chief of Staff Ron Klain.

Twitter: @ewwilkins

Ours Was the Shining Future: The Story of the American Dream

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Nick’s twitter: @NickHanauer

Ours Was the Shining Future (with David Leonhardt) Jun 04, 2024

This week, Nick and Goldy are joined by Pulitzer Prize-winning columnist David Leonhardt to discuss his latest book, Ours Was the Shining Future: The Story of the American Dream. They discuss the relationship between academic economics and the forces that sought to dismantle the mid-century consensus that promoted shared economic growth in the post-World War II era. Leonhardt shares anecdotes from his extensive research, highlighting what lessons from the past could guide us toward a more equitable future.

David Leonhardt is a Pulitzer Prize-winning journalist and columnist for The New York Times, where he writes its flagship newsletter, “The Morning.” He has also been the newspaper’s Washington bureau chief, an op-ed columnist, a staff writer for The New York Times Magazine, and the founding editor of “The Upshot.”

Twitter: @DLeonhardt

Further reading:

New York Times: Why Are Republican Presidents So Bad for the Economy?

The Great Exception: The New Deal and the Limits of American Politics

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What Does Obama’s Chief Economist Think About Bidenomics? (with Jason Furman) May 28, 2024

This week, Nick and Goldy have a wide-ranging conversation with Jason Furman, who served as Chairman of the Council of Economic Advisers under President Obama. Furman brings a wealth of experience to the discussion, which covers America’s post-pandemic recovery, the global inflation crisis, and reviving industrial policy. He also provides insight into the overall impact of President Biden's policies on the broader economic landscape.

Jason Furman is a prominent economist who served as the Chairman of the Council of Economic Advisers under President Obama from 2013 to 2017. He is currently a Professor of the Practice of Economic Policy at the Harvard Kennedy School and a Senior Fellow at the Peterson Institute for International Economics. Furman is known for his expertise in economic policy, particularly in the areas of tax policy, healthcare, and labor markets.

Twitter: @jasonfurman

America’s Rental Housing 2024

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Unpacking America’s Housing Affordability Crisis (with Whitney Airgood-Obrycki) May 21, 2024

This week, Nick and Goldy are joined by Whitney Airgood-Obrycki from the Joint Center for Housing Studies at Harvard University to discuss the urgent issue of housing affordability in the United States. Despite its status as the wealthiest country in the world, America is grappling with a housing crisis, marked by record-high levels of homelessness and a growing number of individuals spending between 30% to 50% or more of their income on rent. Together, they unpack the housing affordability crisis, discuss how it contributes to the perception of a struggling economy, and explore the innovative solutions local governments are proposing to address it.

Whitney Airgood-Obrycki is a Senior Research Associate at the Joint Center for Housing Studies at Harvard University. She conducts research on affordable rental housing for low-income households and served as the project manager and lead author of their recent report on America’s Rental Housing. Dr. Airgood-Obrycki's latest research includes affordable housing policy, housing affordability measures, rental housing markets, and suburban neighborhood change.

Twitter: @airbrycki, @Harvard_JCHS

Montgomery County has found a way to reinvigorate public housing in America

What if public housing were for everyone?

Submit a complaint about a financial product or service

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Junking Junk Fees (with Rohit Chopra) May 14, 2024

This week, Nick and Goldy sit down with Rohit Chopra, the Director of the Consumer Financial Protection Bureau, to explore the agency's efforts to lower financial costs for working Americans. From cracking down on credit card late fees to tackling medical debt on credit reports and regulating bank overdraft charges, Director Chopra sheds light on the CFPB's various initiatives to promote transparency and competition in financial products and services. Chopra argues that by advocating for consumer rights and protections, the CFPB is shaping a more equitable economic landscape for all Americans.

UPDATE: This episode was recorded before yesterday’s breaking news that a Texas judge issued a last-minute order temporarily blocking the CFPB’s plan to cap credit card late fees. Find more information about the injunction, and the Chamber of Commerce’s case against the cap, here: https://www.cnn.com/2024/05/11/business/credit-card-late-fees-regulation-cfpb/index.html

Rohit Chopra is the Director of the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to protecting consumers in the financial marketplace. Prior to leading the CFPB, he served as a Commissioner at the Federal Trade Commission, where he focused on promoting fair competition and protecting consumers from deceptive practices.

Twitter: @chopracfpb, @CFPB

Further reading:

www.consumerfinance.gov

CFPB Bans Excessive Credit Card Late Fees, Lowers Typical Fee from $32 to $8

Prosecute Bad Bosses: More district attorneys are cracking down on abusive employers. It's about time

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Decoding the Tech Layoff Panic of 2024 (with Jeffrey Shulman) May 07, 2024

Even though the American labor market is currently stronger than it has been in decades, earlier this year Big Tech companies were laying off workers at an alarming pace. Economists struggled to understand why some 25,000 tech workers were losing their jobs, even as the media panicked about whether those layoffs were a warning sign of an oncoming recession. University of Washington Professor Jeff Shulman joins us to uncover the real reasons behind Big Tech’s layoffs, and to explain their implications for workers.

Jeffrey Shulman is a professor at the Foster School of Business at the University of Washington. He’s also a podcaster and filmmaker with a diverse range of expertise in pricing, entrepreneurial marketing, and product management. As a professor, he is known for his innovative research and teaching methods that delve into the intricacies of economic principles and their practical applications in the business world. Recently, Shulman has gained recognition for his insightful commentary on the highly publicized layoffs in the tech industry.

Further reading:

Report mentioned in the episode from the National Coalition Against Insurance Fraud: The Costly Crime and Impact of Workers’ Comp Premium Fraud

The Role of State Attorneys General in Protecting Workers’ Rights

Report: How district attorneys and state attorneys general are fighting workplace abuses

More states should follow new Colorado policy on wage theft

Three Motivations for Interest Rate Normalization: A Playbook for Fed Policy in 2024

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Productivity is a Policy Choice (with Preston Mui) Apr 02, 2024

Preston Mui, Senior Economist at Employ America, recently authored a report titled "The Dream of the 90s is Alive in 2024: How Policy Can Revive Productivity Growth." The report offers a blueprint for policymakers seeking to emulate the successes of an unparalleled period of productivity in the United States. Mui joins us to examine and reflect on the policy decisions which drove the strong productivity growth of the 1990s, and he also identifies dynamic new strategies for revitalizing American production in the present.

Preston Mui is a Senior Economist at Employ America, a macroeconomic policy research and advocacy organization committed to achieving and sustaining full employment outcomes.

Twitter: @PrestonMui

The Dream of the 90's is Alive in 2024: How Policy Can Revive Productivity Growth

Preston Mui's thread on the “Dream of the 90's” series and report by Employ America

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why Wages Are Growing From the Bottom Up and Middle Out (with Arin Dube) Mar 26, 2024

Today, Arin Dube, Professor of Economics at the University of Massachusetts Amherst, joins us to discuss his latest research, which suggests that the American labor market is undergoing a remarkable transformation. The widespread wage inequality that rapidly expanded between 1980 and 2019 is finally reversing, and American paychecks are growing again—especially at the bottom end of the income scale. In this enlightening conversation, Dube explains how and why the labor market has changed, how that's affecting wages, and how it all contributes to a virtual cycle of middle-out economic growth.

Arin Dube is a Professor of Economics at the University of Massachusetts Amherst, well-known for his expertise in labor economics and public policy and his groundbreaking empirical research on minimum wage. His work often involves empirical analysis and utilizes large-scale datasets to provide evidence-based insights into the effects of various policy interventions. Dube's research has been widely recognized and cited, contributing to the ongoing discussions among policymakers and economists around labor market dynamics and policy design.

Twitter: @arindube

The Unexpected Compression thread https://twitter.com/arindube/status/1724147807563477440

NBER Working Paper https://www.nber.org/system/files/working_papers/w31010/w31010.pdf

https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The True Cost of Trump’s Tax Plan (with Samantha Jacoby) Mar 19, 2024

In his State of the Union Address, President Biden made it clear that taxes and tax policy were his next big target for a middle-out makeover. However, we can't talk about the future of taxes without discussing the potential expiration of Trump’s’ 2017 tax law. Samantha Jacoby, a senior tax analyst at the Center on Budget and Policy Priorities, joins us today to help us understand the repercussions of Trump's tax policies and the opportunities ahead. Trump’s tax law was marketed as a boon for every working American, promising an average annual benefit of $4,000. But Jacoby unveils the true economic reality behind the Trump tax law: the primary beneficiaries were the wealthiest individuals and corporations; they did not pay for themselves as promised; and despite the trillions of tax giveaways to people at the top, most Americans saw no tangible economic benefit.

Samantha Jacoby is a Senior Tax Analyst with the Center on Budget and Policy Priorities. Before joining the Center in 2018, she practiced tax law at two international law firms in New York and Washington, D.C. Previously, she worked as a policy and research analyst at the Solar Energy Industries Association, where she focused on the impact of tax incentives on the renewable energy industry.

Twitter: @jacsamoby

The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises

IRS Funding thread by Samantha on Twitter

https://x.com/jacsamoby/status/1752088112291807298?s=20

After Decades of Costly, Regressive, and Ineffective Tax Cuts, a New Course Is Needed Bipartisan Senate Action Passes Minimal Test for IRS Funding While Multiple House Republican Bills Fail

https://www.cbpp.org/research/federal-tax/after-decades-of-costly-regressive-and-ineffective-tax-cuts-a-new-course-is

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Middle Out to Mainstream Mar 12, 2024

Eleven years ago, Democracy Journal released a special issue on "The Middle Out Moment" that explored the implications of what was then the brand-new theory of middle-out economics. The moment may not have fully arrived back in 2013, but no doubt it's here now. So this week, Democracy Journal is publishing a follow-up edition called "The Middle Out Moment Part Two," marking the fact that what was once a new idea has now gone mainstream. In this episode, we'll hear from several of the economists, researchers, and former administration officials who contributed to the special issue as they explore how middle-out economics has been put into practice — and discuss the work that lies ahead as middle-out economics becomes the new mainstream.

Guests include: Felicia Wong, Bharat Ramamurti, Tara McGuinness, Sandeep Vaheesan, Todd Tucker, Ronnie Chatterji, Neale Mahoney, and Heidi Shierholz

The Middle-Out Moment is Here: https://democracyjournal.org/category/magazine/72

Twitter:

Michael Tomasky - @mtomasky

Felicia Wong - @FeliciaWongRI

Bharat Ramamurti - @BharatRamamurti

Tara McGuinness - @taradmcguinness

Sandeep Vaheesan - @sandeepvaheesan

Todd Tucker - @toddntucker

Ronnie Chatterji - @RonnieChatterji

Neale Mahoney - @nealemahoney

Heidi Shierholz - @hshierholz

https://www.brookings.edu/articles/why-are-americans-so-displeased-with-the-economy

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why Americans are so displeased with the economy (with Aaron Sojourner) Mar 05, 2024

The latest economic indicators show a historically strong economy. Over the past couple of years, the unemployment rate has consistently stayed below 4%, real wages have been growing faster than they have in decades, and economic growth has been strong. And yet, public opinion surveys consistently show dissatisfaction with economic conditions. Aaron Sojourner, a labor economist from the Upjohn Institute, joins us to discuss his research findings into why Americans are so displeased with the economy. Aaron helps us unpack the complicated relationship between news coverage of the economy and its effect on consumer sentiment.

Aaron Sojourner is a labor economist and senior researcher at the Upjohn Institute for Employment Research. His research focuses on the effects of labor-market institutions, policies to promote efficient and equitable development of human capital, and behavioral economic approaches to consumer finance decisions. He’s also served as the senior economist for labor on the U.S. Council of Economic Advisers for Presidents Obama and Trump.

Twitter: @aaronsojourner

BlueSky: @aaronsojourner.bsky.social

Threads: aaronsojourner

Why are Americans so displeased with the economy?

Aaron’s thread on within-worker real wage growth on Threads:

https://www.threads.net/@aaronsojourner/post/C3OVo8FrDgV/?igshid=NTc4MTIwNjQ2YQ==

Tax Subsidies for Journalism Are Only for Rich People: Perry Bacon Edition

https://cepr.net/tax-subsidies-for-journalism-are-only-for-rich-people-perry-bacon-edition

https://bookshop.org/a/101360/9780525577331

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

A Tale of Two Tax Systems (with David Cay Johnston) Feb 27, 2024

While the average American worker is subject to a progressive income tax system where tax rates increase as income rises, the wealthy often exploit a range of loopholes and deductions that significantly reduce their tax burden—sometimes to the point where the biggest corporations and one-percenters pay nothing at all. David Cay Johnston, a tax policy expert and former investigative journalist for the New York Times, joins us today to help unravel the complexity of the American tax system, which has functionally created two different tax systems: One for the wealthy and powerful and one for everyone else.

David Cay Johnston is an award-winning investigative journalist and author known for his expertise in tax policy and economic inequality. Johnston worked as a tax reporter for The New York Times for over a decade. At the Times, he won the Pulitzer Prize for Beat Reporting in 2001 for his coverage of tax loopholes and corporate tax evasion. Throughout his career, Johnston has authored several critically acclaimed books, including "Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else" and “Divided: The Perils of Our Growing Inequality.”

Twitter: @DavidCayJ

The Whiteness of Wealth: How the Tax System Impoverishes Black Americans--and How We Can Fix It by Dorothy Brown

More from Ganesh Sitaraman:

The Atlantic -Airlines Are Just Banks Now https://www.theatlantic.com/ideas/archive/2023/09/airlines-banks-mileage-programs/675374/

The Crisis of the Middle-Class Constitution https://bookshop.org/a/101360/9781101973455

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The Future of Bidenomics (with Jared Bernstein) Feb 13, 2024

President Biden’s economic policies mark a paradigm shift away from the trickle-down economics that have held sway over Washington DC for the past 40 years. Bidenomics recognizes that a strong and inclusive economy grows from the middle class outwards, centering working Americans and their families rather than relying on a top-down approach that benefits the wealthy first and foremost. In this episode, President Biden’s chief economic advisor, Jared Bernstein, joins us to unpack the key ideas behind this middleout understanding of how the economy really works, and to explain how Bidenomics is reshaping the economy to truly work for all Americans—not just a wealthy few at the top. After helping to engineer a best-in-the-world economic recovery from the pandemic, Bernstein explains what's next for Bidenomics and the American economy.

Jared Bernstein is a prominent economist and author who is widely recognized for his expertise in labor economics and income inequality. As the chair of the United States Council of Economic Advisers, he serves as President Biden’s top economic adviser. From 2009 to 2011. From 2009 to 2011, he served as Chief Economist and Economic Advisor to then-Vice President Biden. Bernstein is a prolific writer and commentator whose work emphasizes the importance of addressing income inequality and promoting policies that benefit working families and the broader economy.

Twitter: @econjared46

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Making a case for the inheritance tax (with David Stasavage) Feb 06, 2024

Over the next two decades, $30 trillion of wealth is expected to be transferred from Baby Boomers to their heirs. Journalists and financial experts have been referring to this event as the “Great Wealth Transfer,” and it's important that we understand the policies that make such a monumental transferral of generational wealth possible—not to mention the tremendous economic and societal implications of this unprecedented economic activity. In this episode, we have the privilege of speaking with David Stasavage, a renowned expert in taxation, inequality, and political economy, to help us unpack the origins and rationale behind the creation of the inheritance tax, and to explore the policies we can use to lessen economic inequality and put some of the Great Wealth Transfer to work for all Americans—not just the children of the wealthy few.

David Stasavage is a prominent political scientist known for his expertise in taxation, inequality, and political economy. He is currently the Julius Silver Professor of Politics at New York University and a Fellow at the Center for Advanced Study in the Behavioral Sciences at Stanford University. He has conducted extensive research on taxation, particularly on the taxation of the wealthy and the role of inheritance taxes in addressing income inequality. His collaboration with Kenneth Scheve on inheritance taxes has shed light on public opinion and the potential effectiveness of these taxes in promoting economic fairness. He’s also the author of several books, including "States of Credit: Size, Power, and the Development of European Polities,” "Taxing the Rich: A History of Fiscal Fairness in the United States and Europe,” and “The Decline and Rise of Democracy.”

Twitter: @stasavage

Democracy, War, and Wealth: Lessons from Two Centuries of Inheritance Taxation https://kfscheve.files.wordpress.com/2020/09/schevestasavage_twocenturies_apsr_2012.pdf

States of Credit: Size, Power, and the Development of European Polities https://bookshop.org/book/9780691166735

Taxing the Rich: A History of Fiscal Fairness in the United States and Europe https://bookshop.org/book/9780691165455

The Decline and Rise of Democracyhttps://bookshop.org/book/9780691228976

https://rooseveltinstitute.org/publications/sea-change

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How a New Economics Went Mainstream (with Suzanne Kahn) Jan 30, 2024

Over the past few decades, economists have gathered a lot of empirical evidence supporting the underlying truth of middle-out economics: that a thriving middle class is the cause of economic growth. Our friends at the Roosevelt Institute have produced a new report which outlines the events that led to our new understanding of how the economy really works. Suzanne Kahn, Vice President of the Think Tank at the Roosevelt Institute, joins us to talk about what's in the report and share how the progressive economic policies of the Biden Administration could mark a lasting shift away from neoliberal, trickle-down economics and toward a new era of middle-out economics.

Suzanne Kahn serves as the Vice President of the Think Tank at the Roosevelt Institute, where she oversees and manages projects to develop critical research and policy to rebalance power in our society and economy. Previously, Suzanne was Roosevelt’s director of education, jobs, and worker power and the Great Democracy Initiative. Her research and writing focus on building a network of robust public goods—for example public higher education—and labor organizations that together can empower workers to counter corporate power in the labor market and public sphere.

Suzanne Kahn @SuzMKahn

Roosevelt Institute @rooseveltinst

Think Tank at the Roosevelt Institute @RooseveltFwd

Sea Change: How a New Economics Went Mainstream

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Revisiting the Child Tax Credit (with Wendy Bach) Jan 23, 2024

A bipartisan group of lawmakers has agreed to expand the Child Tax Credit again, but it will be smaller than the pandemic-era credit was. If this version of the Child Tax Credit is passed by Congress and signed into law, it would benefit 16 million children in low-income families and lift at least half a million kids out of poverty. We thought it would be a good time to revisit this episode from 2021 with professor Wendy Bach, in which she explains everything you need to know about what the Child Tax Credit actually is, why it's a good policy, and how it impacts people's lives.

This episode originally aired on August 24, 2021.

Wendy Bach is a legal scholar and professor specializing in poverty law, criminal justice, and social welfare policy. She is currently a professor of law at the University of Tennessee College of Law. Bach's work focuses on the intersection of poverty, race, and the criminal justice system, with a particular emphasis on the rights and experiences of low-income individuals. She is the author of the book Prosecuting Poverty, Criminalizing Care. She is a nationally recognized expert on poverty law and criminal justice issues.

Twitter: @wendyabach

Congress is close to expanding the child tax credit again − with a smaller boost for families this time https://theconversation.com/congress-is-close-to-expanding-the-child-tax-credit-again-with-a-smaller-boost-for-families-this-time-221382#

What’s in the New Child Tax Credit Proposal https://newrepublic.com/article/178131/bipartisan-expanded-child-tax-credit

Prosecuting Poverty, Criminalizing Care https://bookshop.org/p/books/prosecuting-poverty-criminalizing-care-wendy-a-bach/18739149?ean=9781108465533

Biden’s child tax credit is a step away from a discriminatory system https://qz.com/2034199/how-does-the-us-child-tax-credit-work

Two-thirds of people now receive monthly benefit checks https://www.peoplespolicyproject.org/2021/07/19/two-thirds-of-people-now-receive-monthly-benefit-checks

The time tax https://www.theatlantic.com/politics/archive/2021/07/how-government-learned-waste-your-time-tax/619568

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Medicare Drug Price Negotiations with (Margarida Jorge) Jan 16, 2024

The pharmaceutical industry is one of the most opaque industries in America, and they take advantage of this lack of transparency by setting ever-higher prices for lifesaving prescription drugs like insulin. But provisions in the Inflation Reduction Act are curtailing the exorbitant price-gouging strategies that the pharmaceutical industry uses to pump up their profit margins at the expense of seniors and people with disabilities who use Medicare. This week, we’re talking to Margarida Jorge, the Executive Director of Health Care for America Now, to help us understand more about drug pricing and the impact that drug price negotiations will have on Medicare and its recipients.

We apologize for the background noise you hear during this episode. We strive to provide you with the best possible audio quality, but sometimes external factors (like construction nearby) are beyond our control.

Margarida Jorge is the Executive Director of Health Care for America Now. She has been a prominent advocate for affordable and accessible healthcare for three decades, and she was the chief architect of the 47-state field program that helped win the Affordable Care Act under President Obama. Margarida has played a key role in shaping healthcare policy and has been instrumental in shaping policy discussions, advocating for reforms that prioritize the needs of patients over the profits of pharmaceutical companies, lowering drug prices, and ensuring access to life-saving medications for all.

Twitter: @MargaridaJorg17

Health Care for America Now: https://www.healthcareforamericanow.org

Lower Drug Prices Now: https://www.lowerdrugpricesnow.org

Explaining the Prescription Drug Provisions in the Inflation Reduction Act: https://www.kff.org/medicare/issue-brief/explaining-the-prescription-drug-provisions-in-the-inflation-reduction-act/#bullet01

Big Drug Companies Are in Court to Stop Medicare Negotiation and Protect Their Sky-High Profits: https://www.protectourcare.org/big-drug-companies-are-in-court-to-stop-medicare-negotiation-and-protect-their-sky-high-profits

How Prices for the First 10 Drugs Up for U.S. Medicare Price Negotiations Compare Internationally: https://www.commonwealthfund.org/publications/2024/jan/how-prices-first-10-drugs-medicare-negotiations-compare-internationally

Drug Companies Continue To Hike Prices Above Inflation: https://www.americanprogress.org/article/drug-companies-continue-to-hike-prices-above-inflation

U.S. Prescription Drug Prices Are 2.56 Times Those in Other Countries: https://www.rand.org/pubs/research_reports/RR2956.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Three Economic Issues that Could Shape the 2024 Elections Jan 09, 2024

National elections are won and lost on the economy. Of course they are: the state of the economy affects individuals' job security, income levels, access to healthcare, education, and overall quality of life, so it's not surprising that voters evaluate candidates based on their proposed economic policies and their ability to address pressing economic challenges. As we kick off a big year for elections and the economy, we take time in this episode to discuss the three most important economic issues that could shape the 2024 elections, especially at the presidential level. These are big challenges our country currently faces, and big challenges ought to be met with big transformative ideas that will improve people’s lives and grow the economy from the middle out.

Subscribe to Civic Ventures President Zach Silk’s Substack, The Pitch: civicventures.substack.com

Dig into the biggest economic stories by visiting the Civic Ventures YouTube channel Who Gets What and Why: youtube.com/@WGWAW

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Seizing the Middle Out Moment Jan 02, 2024

When Pitchfork Economics was started, our ideas about economic cause and effect were way outside the economic mainstream, and so much has changed in the last ten years. The economic world is shifting its thinking away from neoclassical ideas, and the primary middle-out economics messenger driving this paradigm shift is in the Oval Office. In this episode, Nick and Goldy explain how the podcast will sharpen our focus on how best to build the economy from the middle out. They’ll also distinguish the difference between Middle-Out Economics and Bidenomics and how Bidenomics is a departure from the trickle-down economics of Reaganism.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Middle-Out Wins Dec 26, 2023

2023 was a big year for middle-out policy and research, so we are recapping some of the biggest middle-out moments that are improving people's lives and helping us close the book on America’s neoliberal era. Today, Civic Ventures writer Paul Constant joins Goldy to help recap the biggest middle-out successes of 2023 that have benefited workers, and are changing the way people think about economic cause and effect. This episode shines a light on policies, movements, labor actions/strikes, groundbreaking reports, and research that have made a real difference in people's lives and is changing the way economists and policymakers think about and manage economic policy.

Voicemail: 731-388-9334

Email: pitch@pitchforkeconomics.com

Bidenomics is Real Economics https://time.com/6343967/bidenomics-is-real-economics

The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda

Minimum Wage Effects and Monopsony Explanations https://justinwiltshire.com/minimum-wage-effects-and-monopsony-explanations

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the UAW strike benefits all workers (with Kate Bahn) Dec 19, 2023

Business reporting on labor unions tends to focus on speculation about how much striking workers might hurt the economy. But the reality is that successful strikes have a long-term positive impact on economic growth because they raise wages for all workers. Economist and researcher Kate Bahn, Director of Research from WorkRise argues that strikes, especially historic strikes such as the recent UAW strike, benefit both unionized and non-union workers, and have much broader ripple effects across the whole economy because they increase worker power and competition for workers across various sectors and industries.

Kate Bahn is an economist and researcher, currently serving as the Director of Research for WorkRise, a research-to-action network hosted by the Urban Institute. Bahn's expertise lies in labor markets, gender economics, and income inequality. She has conducted extensive research on topics such as the gender wage gap, paid family leave, and the impact of automation on employment. Bahn's work combines rigorous analysis with a commitment to addressing the needs and challenges faced by marginalized communities.

Twitter: @LipstickEcon

How the UAW strike might benefit all workers: https://www.cnn.com/2023/09/15/opinions/union-member-negotiations-uaw-pay-bahn/index.html

Labor unions are good for workers, and here’s why they also make good business sense: https://www.marketwatch.com/story/labor-unions-are-good-for-workers-and-heres-why-they-also-make-good-business-sense-a39f3697

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Economists Invented Austerity and Paved the Way to Fascism (with Clara Mattei) Dec 12, 2023

We already know that many mainstream economists advocate against the economic interests of the majority of working Americans and for the benefit of a tiny handful of super-rich people and corporations. But Clara Mattei argues that economists are actually guilty of something even more insidious: By promoting austerity measures that destabilize working people and consolidate wealth and power at the very top of the income scale, economists have created the perfect conditions for fascism to take root around the world. Is it too late to rebuild our democratic institutions through a new economic understanding?

Clara Mattei is a distinguished academic in the field of economics and an Associate Professor of Economics at The New School for Social Research in New York City. Her research examines the history of capitalism, exploring the critical relationship between economic ideas and technocratic policymaking. She’s the author of the book, The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism.

Twitter: @claraemattei

The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism https://press.uchicago.edu/ucp/books/book/chicago/C/bo181707138.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Revisiting the history of Middle-Out Economics (with Michael Tomasky) Dec 05, 2023

We’ve lived in the shadow of trickle-down economics for over 40 years. During that time, our leaders unquestioningly embraced economic policies that prioritize the wealthiest and most powerful, with the idea that their wealth will eventually “trickle down” to everyone else.Of course, that wealth never has trickled down. Thankfully, our economic understanding has finally started to shift. This has been a landmark year in passing middle-out economic policies that prioritize the vast majority of working Americans over the wealthy few. In a future episode we’ll be discussing the middle-out research and policies that are making a real difference in people's lives, thereby changing the way we think about economic cause and effect. But before we look ahead to the glorious middle-out future, it’s important to revisit the history of middle-out economics via a conversation with journalist Michael Tomasky, author of a recent book detailing the rise of progressive economics in the United States.

This episode originally aired on October 18, 2022

Michael Tomasky is a journalist and author. He’s top editor of The New Republic. He’s editor of Democracy: A Journal of Ideas, as well as a contributing opinion writer for The New York Times.

Twitter: @mtomasky

The Middle Out https://www.penguinrandomhouse.com/books/671443/the-middle-out-by-michael-tomasky

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Working Toward a Full Employment Economy (with Arnab Datta) Nov 28, 2023

In its quest to combat inflation the Federal Reserve has seemingly done everything in its power to engineer a recession, which would throw millions of people out of work. Rather than question the Fed’s actions, mainstream economists cheered them on, claiming that we need multiple months of high unemployment to bring inflation down. But do we really need to immiserate America’s working class in order to save the economy? Today’s guest, Arnab Datta, and his colleagues at Employ America are producing research that suggests we should instead be using macroeconomic policies to steer the economy to high employment and robust wage growth—which would reduce inequity, spur economic development, and expand the availability of good-paying jobs for all Americans.

Arnab Datta serves as the Senior Counsel for Employ America, which is an organization focused on economic policy research and advocacy that prioritizes full employment, wage growth, and economic stability. Employ America seeks to influence economic policy discussions and shape the narrative around employment and economic well-being.

Twitter: @ArnabDatta321, @employamerica

Website: www.employamerica.org

The Fed Is Trying To Engineer A Recession https://www.employamerica.org/blog/the-fed-is-trying

In The Right Context, Full Employment Can Support A Pickup In Productivity https://www.employamerica.org/blog/in-the-right-context-full-employment-can-support-a-pickup-in-productivity

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Understanding the Sahm Rule (with economist Claudia Sahm) Nov 21, 2023

Mainstream economists have been predicting a recession on the horizon for over a year, with some doomsayers even making up something called “a non-recession recession” to characterize the state of the economy. There’s no better person to cut through all this bluster and nonsense than the creator of one of the most reliable economic indicators created in the last few decades: the Sahm Rule, which aims to predict and track recessions in real time. Former Federal Reserve economist Claudia Sahm joins the podcast to walk us through the Sahm Rule’s methodology and explains how it utilizes timely data to provide early warnings of economic downturns, offering policymakers, businesses, and individuals a valuable tool for proactive decision-making.

Claudia Sahm is an esteemed economist and policy expert who has served as director of macroeconomic policy at the Washington Center for Equitable Growth, Senior Economist at the Federal Reserve, and economist for the White House Council of Economic Advisers under President Obama. She’s known for her contributions to macroeconomics and the development of the Sahm Rule, her research on monetary policy, labor markets, and macroeconomic stabilization has made her a trusted advisor and consultant to policymakers and organizations seeking evidence-based insights.

Twitter: @Claudia_Sahm

Claudia Sahm Substack: https://stayathomemacro.substack.com/

‘We do not need a recession, but we may get one’: https://www.ft.com/content/3213f700-26a7-4d84-aca0-d7cc5bf11484

Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Exploring American Inequality (with Nobel Laureate Angus Deaton) Nov 14, 2023

No matter which indicator you’re using, American inequality has been increasing in recent decades. Whether you’re measuring the growing wealth gap, the stagnant wages of the middle class, or the concentration of wealth and power among a small group of elites, every indicator unfailingly suggests that inequality is getting worse. Nobel Laureate Angus Deaton joins the podcast to talk about his recent book on the subject, Economics in America: An Immigrant Economist Explores the Land of Inequality, in which he explains how his own experience as an immigrant has shaped his understanding of American inequality and its impact on upward mobility.

Angus Deaton is a renowned economist and author known for his groundbreaking work in the fields of poverty, inequality, and health. He is a 2015 Nobel Prize Laureate and is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs at Princeton University.

Twitter: @DeatonAngus

Economics in America: An Immigrant Economist Explores the Land of Inequality https://bookshop.org/p/books/economics-in-america-an-immigrant-economist-explores-the-land-of-inequality-angus-deaton/19785471?ean=9780691247625

Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The return of child labor (with Nina Mast and Jennifer Sherer) Nov 07, 2023

At a time when violations of child labor laws are on the rise nationally, state lawmakers around the country are successfully rolling back child labor protections. Jennifer Sherer and Nina Mast from the Economic Policy Institute have authored an article that insists lawmakers must act to strengthen standards, not erode the existing minimal standards designed to safeguard children from exploitation. They share insights into why weakening child labor protections could have detrimental effects on the middle class and the overall economy.

Nina Mast is an economic analyst for the Economic Analysis and Research Network (EARN) at EPI. She also worked on issue campaigns at The Hub Project and efforts to advance a progressive economic worldview at the Groundwork Collaborative.

Jennifer Sherer is the director of the Economic Analysis and Research Network (EARN) State Worker Power Initiative. Her work focuses on expanding the ability of working people to achieve racial, gender, and economic justice through organizing, collective bargaining, and public policies that promote worker voice.

Twitter: @EconomicPolicy

Florida legislature proposes dangerous rollback of child labor protections https://www.epi.org/blog/florida-legislature-proposes-dangerous-roll-back-of-child-labor-protections-at-least-16-states-have-introduced-bills-putting-children-at-risk

Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The path of political disintegration (with Peter Turchin) Oct 31, 2023

When Nick warned back in 2013 that the pitchforks were coming, he meant that if we continued immiserating the majority of citizens by enriching a wealthy few at the expense of everyone else, an uprising was inevitable. Unfortunately, this warning is still just as relevant ten years later. Peter Turchin joins the podcast to discuss his new book, End Times: Elites, Counter-Elites, and the Path of Political Disintegration, which looks to history (as well as the current turmoil in the United States) to better understand exactly what causes political communities to fall apart.

Peter Turchin is Project Leader at the Complexity Science Hub in Vienna, Research Associate at University of Oxford, and Emeritus Professor at the University of Connecticut.

End Times https://www.penguinrandomhouse.com/books/703238/end-times-by-peter-turchin

Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Corporate Bullsh*t (with Joan Walsh and Donald Cohen) Oct 24, 2023

Politicians and business interests have lied to the American people for centuries in order to protect their power and profits—and they tell the exact same lies every single time. Nick has co-written a book titled Corporate Bullsh*t with Joan Walsh and Donald Cohen, which reveals this trickle-down duplicity as plain as day by placing egregious past quotes from corporate executives and politicians next to equally outrageous contemporary arguments—all of which justify outcomes that line the pockets of the wealthy and powerful while harming everyone else. Joan and Donald join the show to discuss why they wrote this book and to explain why it’s a must-read for anyone who's tired of getting conned, bamboozled, and ripped off.

Joan Walshis national affairs correspondent for The Nation, the co-producer of the Emmy-nominated documentary The Sit-In: Harry Belafonte Hosts the Tonight Show, and the author of What’s the Matter with White People?

Donald Cohenis the founder and executive director of the research and policy center In the Public Interest and the co-author (with Allen Mikaelian) of The Privatization of Everything.

Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com

This episode originally aired on May 24, 2022.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The economics of belonging (with john a. powell) Oct 17, 2023

If you’re a long-time listener, you’ve definitely heard us discuss the golden rule of middle out economics: The more people you include in the economy, the faster and more prosperous it grows for everybody. The Director of the Othering & Belonging Institute, john a. powell, agrees that inclusion is the key to a thriving economy, and he joins us to explain why the concept of belonging is so important for a healthy community.

john a. powell is the Director of the Othering & Belonging Institute at the University of California, Berkeley.

Twitter: @profjohnapowell

Targeted universalism: a solution for inequality? https://www.cbs8.com/article/news/local/california/targeted-universalism/509-2127090b-7f50-4a91-91e7-04c47acf3309

Othering & Belonging Institute https://belonging.berkeley.edu/john-powell

Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How neoliberalism turned the work ethic against workers (with Elizabeth Anderson) Oct 10, 2023

The majority of U.S. workers aren’t compensated anywhere near the value that they actually create for society, while the few who make the most money often work the least and contribute very little. Decades of neoliberal thinking has twisted one of the foundational American beliefs—the idea that hard work eventually reaps great rewards—into a celebration of greed and a dismissal of those of us who work the hardest. Returning guest Elizabeth Anderson explains how we can reclaim the American work ethic in order to once again center workers as the true heroes of the American economy.

Professor Elizabeth Anderson specializes in moral, social and political philosophy, feminist theory, social epistemology, and the philosophy of economics and the social sciences. She is the author of several books including Private Government: How Employers Rule Our Lives and, most recently, Hijacked: How Neoliberalism Turned the Work Ethic against Workers and How Workers Can Take It Back.

Hijacked: How Neoliberalism Turned the Work Ethic against Workers and How Workers Can Take It Back https://www.cambridge.org/core/books/hijacked/E7E4A7D850C1E7289BA7AAF910455136#fndtn-information

Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com

https://rooseveltinstitute.org/publications/supply-side-expansion-has-driven-the-decline-in-inflation

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Setting the record straight on inflation (with Mike Konczal) Oct 03, 2023

There have been a lot of bad takes on inflation out there in the media, from wild speculation about its causes to absurd predictions about when and how the wave of price increases would finally come to an end. But now just about everyone agrees that after two years of rising prices, inflation has finally slowed down. And while there’s still a long way to go, the situation is dramatically better now than it was even six months ago. Mike Konczal from the Roosevelt Institute recently did some research into the disinflation we’ve been seeing, and he returns to the show to tell us what’s really bringing prices back down to earth.

Mike Konczal is director of Macroeconomic Analysis at the Roosevelt Institute, where he focuses on full employment, inequality, and the role of public power in a democracy.

Twitter: @mtkonczal

Supply-Side Expansion Has Driven the Decline in Inflation

How Goldilocks Came to the U.S. Economy https://www.nytimes.com/2023/09/11/opinion/inflation-unemployment-phillips-recession.html

Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The Tyranny of Merit (with Michael Sandel) Sep 26, 2023

In this wide-ranging conversation with one of our favorite authors, philosopher Michael Sandel explains how the concept of meritocracy has helped to create such a massive divide in American politics and culture.

Michael Sandel is a world-renowned philosopher who teaches political philosophy at Harvard University. His course “Justice” is the first Harvard course to be made freely available online and has been viewed by tens of millions of people around the world. Sandel’s books relate enduring themes of political philosophy to the most vexing moral and civic questions of our time. They include The Tyranny of Merit (2020), Democracy’s Discontent (2022), and more.

The Tyranny of Merit: What's Become of the Common Good https://us.macmillan.com/books/9780374289980/thetyrannyofmerit

Democracy’s Discontent: A New Edition for Our Perilous Times https://www.hup.harvard.edu/catalog.php?isbn=9780674270718

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What the new Draft Merger Guidelines could mean for the economy (with Maggie Goodlander) Sep 19, 2023

Earlier this summer, the Justice Department and Federal Trade Commission (FTC) released a draft update of their Merger Guidelines, “which describe and guide the agencies’ review of mergers and acquisitions to determine compliance with federal antitrust laws.” Maggie Goodlander from the Justice Department joins the podcast to discuss why mergers can weaken competition and harm consumers and workers, and how these proposed guidelines can help bring competition back by making it harder for big corporations to swallow each other up.

Maggie Goodlander is the Deputy Assistant Attorney General at the U.S. Department of Justice where she oversees the international, appellate, and policy work of the Antitrust Division.

Twitter: @TheJusticeDept

Justice Department And FTC Seek Comment on Draft Merger Guidelines https://www.justice.gov/opa/pr/justice-department-and-ftc-seek-comment-draft-merger-guidelines

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The CHIPS Act, explained (with Ronnie Chatterji) Sep 12, 2023

It’s been a little over a year since President Biden signed the CHIPS and Science Act, which invested $231 billion into semiconductor manufacturing in the United States, into law. Despite the fact that those investments are already creating economic growth around the country, most Americans don’t recognize the impact that the CHIPS Act is already having on the national economy. Today, Ronnie Chatterji, the former CHIPS Coordinator at the White House, joins the pod to provide a better understanding of what the CHIPS Act really does and why it matters.

Aaron Chatterji is the Duke University Professor of Business and Public Policy. He was previously the White House CHIPS Coordinator and Acting Deputy Director of the National Economic Council in the Biden Administration.

Twitter: @RonnieChatterji

CHIPS Act: National security is priority for funding, analyst says https://finance.yahoo.com/video/chips-act-national-security-priority-150516934.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What labor shortage? (with Heidi Shierholz) Sep 05, 2023

When employers say they can’t find workers, what they really mean is that they can’t find enough people willing to work for what they want to offer. The so-called “labor shortage” we’ve heard so much about these last few years is actually just a wage shortage. And the solution is simple: pay people more. Labor Day weekend felt like a good time to revisit this subject with EPI President, Heidi Shierholz.

This episode originally aired on May 25, 2021.

Heidi Shierholz is the president of the Economic Policy Institute, a nonprofit, nonpartisan think tank that uses the power of its research on economic trends and on the impact of economic policies to advance reforms that serve working people, deliver racial justice, and guarantee gender equity.

Twitter: @hshierholz

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why don't we fight poverty by just giving people money? (with Paul Niehaus) Aug 29, 2023

We saw during the pandemic that giving people cash is good for individuals and the economy as a whole. It makes sense: When people have more money, they spend it in their communities and stimulate the local economy. So why don’t we give people money all the time? Our guest today started a charity that combats poverty by giving people cash, with no strings attached, to use how they wish. The results have been really encouraging. Paul Niehaus, co-founder of GiveDirectly, explains how his program works—and more importantly, why it works.

Paul Niehaus is an economist at UCSD and an entrepreneur working to accelerate the end of extreme poverty. He is co-founder, former president, and current director at GiveDirectly, the leading international NGO specialized in digital cash transfers and consistently rated one of the most impactful ways to give.

Twitter: @PaulFNiehaus

GiveDirectly https://www.givedirectly.org

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Power, progress, and technology (with Daron Acemoglu) Aug 22, 2023

New technologies are sold as a net benefit to society as a whole, but the truth is that technological progress is only loosely correlated to the improved welfare of the majority of citizens. This is not to say that technology and innovation are bad—we’re big supporters of both—but when tech CEOs hold all the power to make decisions that affect all of us, that becomes a problem. For a long time, technology has been used by the rich and powerful to further enrich themselves and consolidate their own power. Is there a way to ensure that everyone benefits from innovation—not just the wealthy few? Returning guest Daron Acemoglu shares insight from his new book on the subject, Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.

Daron Acemoglu is the Institute Professor of Economics at MIT, the university’s highest faculty honor. For the last twenty-five years, he has been researching the historical origins of prosperity, poverty, and the effects of new technologies on economic growth, employment, and inequality. He is an author (with James Robinson) of The Narrow Corridor and the New York Times bestseller Why Nations Fail.

Twitter: @NarrowCorridor

Power and Progress https://www.hachettebookgroup.com/titles/daron-acemoglu/power-and-progress/9781541702530

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Aug 15, 2023

Nick and Goldy answer more of your questions! What happens to current economic systems if world population growth goes to zero? Should I feel guilty for wanting my stocks to do well? What could be a good methodology to measure how progressive a tax is? And more!

If you have questions for a future “Ask Me Anything” episode, leave us a voicemail at 731-388-9334.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Wages need a revolution (with Michael Lind) Aug 08, 2023

Today we’re talking about wages—specifically, how the widespread suppression of wages is destroying the American economy. Author, professor, and fellow traveler Michael Lind just published a new book titled “Hell to Pay” that argues America is in need of a revolution in the way we think about work and wages. Lind warns that if American worker power isn’t restored to its previous highs, there’ll be hell to pay. (Sounds a bit like “the pitchforks are coming,” doesn’t it?)

Michael Lind is the author of more than a dozen books. He is a columnist for Tablet and has been an editor or staff writer for The New Yorker, Harper’s, The New Republic, and The National Interest. He’s one of the founders of the New America Foundation. He has taught at Harvard and Johns Hopkins and is currently a professor of practice at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.

Hell to Pay https://www.penguinrandomhouse.com/books/690656/hell-to-pay-by-michael-lind

“Hell To Pay”: Michael Lind On A True Good Jobs Strategy https://www.forbes.com/sites/michaelbernick/2023/05/16/hell-to-pay-michael-lind-on-a-true-good-jobs-strategy/?sh=c4e0c584d160

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Industrial Policy actually works (with Isabel Estevez) Aug 01, 2023

Industrial Policy (IP) has dominated conversations in economic and political circles thanks to President Biden’s big investments in manufacturing, infrastructure, and working Americans. But according to today’s guest, development economist Isabel Estevez, the conversation around IP is too narrow. IP is not just about manufacturing and clean energy, she argues—smart IP also encompasses policies that improve outcomes for people, like reducing child poverty and cleaning our drinking water.

Isabel Estevez is the Deputy Director of Industrial Policy and Trade at the Roosevelt Institute. She conducts research at the intersection of industrial and trade policy, with a focus on the transformation and decarbonization of heavy industries, such as steel and aluminum.

Twitter: @Isabel_Estevez_

Industrial Transformations https://www.phenomenalworld.org/analysis/industrial-transformations

The American Industrial Policy Series https://rooseveltinstitute.org/think-tank/climate-and-economic-transformation/the-american-industrial-policy-series

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Private equity’s plan to pillage America (with Brendan Ballou) Jul 25, 2023

Over the last decade, private equity firms wiped out nearly 600,000 jobs in the retail sector by taking over and bankrupting major retailers like Toys R Us and Payless Shoes. But in that same time, private equity also destroyed companies in healthcare, housing, medicine, and many other industries that affect our everyday lives. Today’s guest, federal prosecutor Brendan Ballou, explains how we can stop private equity’s plan to pillage America.

Brendan Ballou is a federal prosecutor and served as Special Counsel for Private Equity in the Justice Department's Antitrust Division. Previously, he worked in private practice, and before that, in the National Security Division of the Justice Department, where he advised the White House on counterterrorism and other policies.

Twitter: @brendanballou

Plunder: Private Equity's Plan to Pillage America https://www.hachettebookgroup.com/titles/brendan-ballou/plunder/9781541702103

Private Equity is Out of Control and Looting America. This Prosecutor Says We Can Fix It. https://www.ineteconomics.org/perspectives/blog/private-equity-is-out-of-control-and-looting-america-this-prosecutor-says-we-can-fix-it

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Bidenomics (with Bharat Ramamurti) Jul 18, 2023

“Bidenomics” is closely aligned with many—probably even most—of the middle-out economic principles that we discuss on this podcast every week. Much to our surprise and delight, Joe Biden has become the first President in 40 years to reject trickle-down economics in favor of building the economy from the middle out, and the results speak for themselves: Since the pandemic began, America has seen the strongest growth of any leading economy in the world. The economy has added 13 million jobs, inflation has fallen for 12 straight months, and a recession is no longer on the horizon. National Economic Council Deputy Director Bharat Ramamurti returns to the show to explain why Bidenomics has been so successful.

Bharat Ramamurti is the Deputy Director of National Economic Council (NEC) for The White House. He previously served as a Member of the Congressional Oversight Commission for the CARES Act, and as the Managing Director of the Corporate Power program at the Roosevelt Institute.

Twitter: @BharatRamamurti

Bidenomics is Working https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/28/bidenomics-is-working-the-presidents-plan-grows-the-economy-from-the-middle-out-and-bottom-up-not-the-top-down

The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why good jobs are good for business (with Zeynep Ton) Jul 11, 2023

Low pay is obviously terrible for workers, but a growing body of research proves that it’s bad for businesses, too. Smaller paychecks lead to higher turnover, decreased productivity, and poor sales. Will low-wage employers in the grocery, retail, and restaurant industries ever understand that their employees are their most important asset? Zeynep Ton hopes so. She’s written a book explaining how labor investments can pay for themselves, and she joins us today to explain why better-paying jobs are good for everyone in the long run.

Zeynep Ton is a Professor of the Practice in the Operations Management group at MIT Sloan School of Management. She is also president of the nonprofit Good Jobs Institute, where she works with companies to improve their operations in a way that satisfies employees, customers, and investors alike.

Twitter: @zeynepton

Good Jobs are Good Business https://time.com/6285516/good-jobs-good-business

The Case for Good Jobs: How Great Companies Bring Dignity, Pay, and Meaning to Everyone’s Work https://store.hbr.org/product/the-case-for-good-jobs-how-great-companies-bring-dignity-pay-and-meaning-to-everyone-s-work/10579

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How economics can create a more sustainable planet (with Sarah Bloom Raskin) Jul 04, 2023

In the 21st century, summertime isn’t just for lounging on the beach and trips to the ice cream shop. Climate change has made summer much more unpleasant—and even dangerous. This year alone, New York City and Chicago have been choked with wildfire smoke and the southern U.S. suffered through a wave of record-breaking high temperatures. That’s why we’re revisiting our conversation with financial regulation expert Sarah Bloom Raskin about how fiscal policy can help save the environment. She explains what levers already exist to steer monetary policy toward lasting sustainability, and which proposed regulatory strategies could create transformative climate outcomes.

This episode originally aired on July 20, 2021.

Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee.

Twitter: @SBloomRaskin

News clips from: CBS News, PBS NewsHour, and TODAY

Learn more about the Regenerative Crisis Response Committee here: https://regenerativecrisisresponsecommittee.org

Does environmental regulation kill or create jobs? https://policyintegrity.org/files/media/Jobs_and_Regulation_Factsheet.pdf

Do regulations really kill jobs? https://www.theatlantic.com/business/archive/2017/01/regulations-jobs/513563

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Summer Reading List Jun 27, 2023

It’s Paul and Goldy’s summer reading list!

We want to know what you’re reading, too. Leave us a comment on Instagram: @pitchforkeconomics

Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available through your library.

Every book mentioned in this episode:

Corporate Bullsh*t - Nick Hanauer, Joan Walsh, and Donald Cohen

The Ministry for the Future - Kim Stanley Robinson

A Spectre, Haunting - China Miéville

The City & the City - China Miéville

Fight Like Hell - Kim Kelly

Rich White Men - Garrett Neiman

The 9.9 Percent - Matthew Stewart

When the President Calls - Simon W. Bowmaker

Capitalism and Freedom - Milton Friedman

Essential - Jamie K. McCallum

The Journey of Humanity - Oded Galor

SPQR - Mary Beard

The Death and Life of Great American Cities - Jane Jacobs

When McKinsey Comes to Town - Walt Bogdanich & Michael Forsyth

Humanly Possible - Sarah Bakewell

Bloodlands - Timothy Snyder

The Road to Unfreedom - Timothy Snyder

On Tyranny - Timothy Snyder

Black Earth - Timothy Snyder

Pre-Order Nick’s new book with Joan Walsh and Donald Cohen, Corporate Bullsh*t from Amazon: https://www.amazon.com/Corporate-Bullsh-Exposing-Half-Truths-Protect/dp/1620977516

Pre-Order Nick’s new book with Joan Walsh and Donald Cohen, Corporate Bullsh*t from Bookshop: https://bookshop.org/p/books/it-s-never-our-fault-and-other-shameless-excuses-a-compendium-of-corporate-lies-that-protect-profits-and-thwart-progress-donald-cohen/18096544?ean=9781620977514

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Doughnut Economics (with Andrew Fanning) Jun 20, 2023

On its website, the Doughnut Economics Action Lab describes Doughnut Economics as “a compass for human prosperity in the 21st century.” Its proponents prioritize economic solutions that meet both the basic needs of all people—food, housing, equity, democratic inclusion—and the ecological needs of the planet that we all call home. Economist Andrew Fanning joins the show to discuss how Doughnut Economics can redefine economics for the 21st century, and he doesn’t sugarcoat the importance of implementing the doughnut model in order to successfully combat climate change.

Andrew Fanning is an ecological economist and the Data Analysis & Research Lead at Doughnut Economics Action Lab at the University of Leeds.

Twitter: @AndrewLFanning, @DoughnutEcon

Doughnut Economics Action Lab (DEAL) https://doughnuteconomics.org

Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist https://www.chelseagreen.com/product/doughnut-economics-paperback

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the franchise system is rigged (with Marshall Steinbaum) Jun 13, 2023

In the 20th century, big corporations sold franchising to Americans as a less risky way to buy into business ownership. But in recent years, the franchise industry has tipped hugely in favor of franchisors, extracting wealth from both franchisees and the employees who work for them through complicated contracts that kill competition and rig the system. Economist Marshall Steinbaum returns to the podcast to share the findings from his deep dive into the (intentionally) complex and arcane franchise system, and to explain the latest data from Washington State’s recent enforcement campaign against no-poach clauses in franchising contracts.

Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow in Higher Education Finance at Jain Family Institute.

Twitter: @Econ_Marshall

Vertical Restraints and Labor Markets in Franchised Industries https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4155571

The Effect of Franchise No-poaching Restrictions on Worker Earnings https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4155577

Coercive Rideshare Practices: At the Intersection of Antitrust and Consumer Protection Law in the Gig Economy https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4196215

Shared Security, Shared Growth https://democracyjournal.org/magazine/37/shared-security-shared-growth

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Americonned (with Sean Claffey and Dave Pederson) Jun 06, 2023

Americonned, a new documentary featuring our own Nick Hanauer, examines the inequality crisis currently plaguing the United States. The film shows the hidden struggles of American families and dissects the elite’s calculated political maneuvers to preserve and even grow their own wealth at everyone else’s expense. The filmmakers join us to share their experience documenting the long-overdue uprising of American workers, and explain how the process of making their film gave them hope for the future.

Americonned is playing in select theaters & will be available via VOD on June 13th.

Sean Claffey is the Director, Producer, and Executive Producer of Americonned. He has more than 25 years in the film industry spanning feature films, industry documentaries and commercials.

Dave Pederson is the Producer and Writer of Americonned. He’s an entertainment professional for over 20 years with expertise in Film & Television production, development, sales and distribution.

Twitter: @americonneddoc, Instagram: @americonneddocumentary

Americonned: The Documentaryhttps://americonned.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Can the economy be liberated? (with Jeremie Greer) May 30, 2023

Even when our nation's prosperity was most broadly shared in the 1950s and 1960s, Black people and other communities of color were purposefully denied the shared prosperity that white families enjoyed. And because inclusion drives economic growth, excluding anyone from the economy is bad for all of us. Jeremie Greer, Liberation in a Generation’s co-director, explains how racism is profitable under our current economic system, and breaks down how we can build a Liberation Economy that truly includes—and benefits—everyone.

Jeremie Greer is the Co-Founder and Co-Executive Director of Liberation in a Generation, a national movement-support organization, building power for POC and demanding a Liberation Economy.

Twitter: @liberation_gen, @JeremieGreer

Liberation in a Generation https://www.liberationinageneration.org

Racism is Profitable Podcast https://www.liberationinagenerationaction.org/podcast

The Road to Zero Wealth https://ips-dc.org/report-the-road-to-zero-wealth

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Higher minimum wages are creating more jobs (with Michael Reich) May 23, 2023

Ten years ago, Nick was called "near insane" for saying that substantially raising the minimum wage would create jobs. In retrospect, it seems obvious: After all, if no one has any money, who will buy all the stuff? Researchers at University of California, Berkeley have found more data to support this theory in a first-of-its-kind study on the effects of the $15 minimum wage. Michael Reich, one of the economists who worked on this exciting report, shares his findings with us.

Michael Reich is Professor of Economics and Chair of the Center on Wage and Employment Dynamics (CWED) at the Institute for Research on Labor and Employment (IRLE) of the University of California at Berkeley.

Twitter: @IRLEUCB

High Minimum Wages and the Monopsony Puzzle https://irle.berkeley.edu/publications/working-papers/high-minimum-wages-and-the-monopsony-puzzle

New Study Finds a High Minimum Wage Creates Jobs https://nymag.com/intelligencer/2023/05/new-study-finds-a-high-minimum-wage-creates-jobs.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Do we need an Economic Bill of Rights? (with Mark Paul) May 16, 2023

We learn in grade school that American citizens are endowed with certain inalienable rights, but basic necessities like housing and education aren’t protected by the Constitution. Imagine how different this country might be if affordable health care and guaranteed employment were included in our Bill of Rights. That’s the vision that economist Mark Paul outlines in his new book, The Ends of Freedom.

Mark Paul is an assistant professor of economics at the Bloustein School of Planning and Public Policy at Rutgers University. His research and writing have appeared in the New York Times, Economist, Washington Post, Nation, American Prospect, and Financial Times, among other publications.

Twitter: @MarkVinPaul

The Ends of Freedom https://press.uchicago.edu/ucp/books/book/chicago/E/bo195791875.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The case for inclusive growth (with JP Julien) May 09, 2023

At the core of middle-out economics is the idea that the more people we include in the economy, the faster and more prosperous it grows. And this inclusionary principle isn’t something we just made up—there’s actual data to support it. Our conversation with JP Julien from McKinsey and Company outlines what inclusion can mean in the context of an economy that works for everyone.

This episode originally aired on July 6, 2021.

JP Julien is a Partner at McKinsey & Company, where he serves US federal, state, and city governments on inclusive economic-development topics and supports private-, public-, and social-sector organizations in advancing racial equity. He is a leader of the McKinsey Institute for Black Economic Mobility, a global economic think tank focused on inclusive economic development and racial equity topics.

Twitter: @McKinsey

The case for inclusive growth: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-case-for-inclusive-growth

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Can economics save the world? (with Erik Angner) May 02, 2023

We all want to live happier, more fulfilling lives and build a better future for ourselves, but can economics help to make that dream a reality? Economist and philosopher Erik Angner is so confident that economics can save the world that he wrote a whole book about it. Erik helps Nick and Goldy overcome their usual cynicism by pointing out all the amazing progress that has been made in the economics profession, and he explains how economics can help build an even more glorious future for everyone.

Erik Angner is Professor of Practical Philosophy at Stockholm University, where he directs the PPE Program. He is the author of several books including A Course in Behavioral Economics and How Economics Can Save the World.

Twitter: @ErikAngner

How Economics Can Save the World https://www.penguin.co.uk/books/321644/how-economics-can-save-the-world-by-angner-erik/9780241502693

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How college broke the American dream (with Will Bunch) Apr 25, 2023

This week we’re continuing our exploration into the ways that higher education contributes to America’s political, cultural, and economic divisions. Goldy chats with author Will Bunch about how our leaders almost established a university education as a public good, why the so-called “knowledge economy” has caused inequality to grow, and how we can possibly fix our educational divide.

Will Bunch is a national opinion columnist for the Philadelphia Inquirer and author of several books. He has won numerous journalism awards and shared the 1992 Pulitzer Prize for spot news reporting with the New York Newsday staff.

Twitter: @Will_Bunch

After the Ivory Tower Falls https://www.harpercollins.com/products/after-the-ivory-tower-falls-will-bunch

Better Public Schools Won’t Fix America https://www.theatlantic.com/magazine/archive/2019/07/education-isnt-enough/590611

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Econ 101 is failing college students (with Abigail Acheson and Nouhaila Oudija) Apr 18, 2023

Universities across America are still teaching an outdated, neoclassical way of economic thinking. The trickle-down curriculums taught in Econ 101 classrooms aren’t just bad for students—they have had disastrous, far-reaching effects on the economy. Decades of bad education has left students adrift: A new study from Rethinking Economics reveals that the majority of college students are critical of the US economic system, with a large majority believing it needs to change. Can we redesign economic curriculums to better reflect how the economy really works?

Abigail Acheson is network coordinator and staff organizer with the US Rethinking Economics National Network. A recent graduate, Abigail is dedicated to revitalizing student organizing for curriculum change at universities.

Nouhaila Oudija is a researcher and consultant at RE-USA. She recently published a research project about college students' attitudes around the US economic system and about the lack of diversity of thought in economics curricula.

Twitter: @RethinkEcon_USA, @rethinkecon

Economics is Failing US College Students https://www.rethinkeconomics.org/2022/10/18/econ-failing-us-students

Rich: https://www.bloomberg.com/news/features/2019-05-23/the-wealth-detective-who-finds-the-hidden-money-of-the-super-rich

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How rich people dodge taxes (with Gabriel Zucman) Apr 11, 2023

As Tax Day approaches in the United States, we’re revisiting our conversation with Gabriel Zucman, the authority on wealth taxes. For the last 40 years, trickle-down politicians have slashed tax rates on the rich, benefiting the wealthy few at the expense of the American middle class. Zucman explains how the rich manage to dodge taxes, and how we can fix this broken system.

This episode originally aired on November 26, 2019.

Gabriel Zucman is now Professor of Economics at the Paris School of Economics and Ecole Normale Supérieure – PSL, Associate Professor of Economics at the University of California, Berkeley, Director of the EU Tax Observatory, and Director of the James M. and Cathleen D. Stone Center on Wealth and Income Inequality at UC Berkeley.

Twitter: @gabriel_zucman

The Triumph of Injustice: https://wwnorton.com/books/the-triumph-of-injustice

The Wealth Detective Who Finds the Hidden Money of the Super

https://prospect.org/economy/2023-02-09-biden-middle-out-agenda

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Banning noncompetes is good, actually (with Evan Starr) Apr 04, 2023

One in five American workers has signed a noncompete clause. The FTC believes that the elimination of these clauses would generate extra job opportunities for 30 million workers and raise wages by $300 billion—a huge win for the average American worker. Economist Evan Starr shares findings from his new report on noncompetes and their enforceability in court, which uses data from our home state of Washington.

Evan Starr is an Assistant Professor of Management & Organization at the Robert H. Smith School of Business at the University of Maryland. He received a Ph.D. in economics from the University of Michigan.

Twitter: @evanpstarr

Do Firms Value Court Enforceability of Noncompete Agreements? https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4364674

The Transformation at the Heart of Biden’s Middle-Out Economic Agenda

Why your noncompete clause is probably illegal https://pitchforkeconomics.com/episode/why-your-non-compete-clause-is-probably-illegal-with-attorney-general-bob-ferguson

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How we all fell for The Big Myth (with Naomi Oreskes and Erik Conway) Mar 28, 2023

When did ordinary people come to believe that free market solutions are always better than government intervention? How do we create a future where markets serve democracy instead of stifling it? In this episode we’re talking about the “magic” of the marketplace and the myth that the free market is ruthlessly efficient and always knows best. The co-authors of The Big Myth explain exactly how American business taught us to loathe government and love the free market.

Naomi Oreskes is Professor of the History of Science at Harvard University. Her opinion pieces have appeared in the New York Times, the Washington Post, the Los Angeles Times, and many other outlets.

Erik M. Conway is a historian of science and technology and works for the California Institute of Technology. He is the author of seven books and dozens of articles and essays.

Twitter: @NaomiOreskes, @ErikMConway

The Big Myth https://www.bloomsbury.com/us/big-myth-9781635573572

The Silicon Valley Bank Bailout Didn’t Need to Happen https://prospect.org/economy/2023-03-13-silicon-valley-bank-bailout-deregulation

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Slouching towards economic utopia (with Brad DeLong) Mar 21, 2023

Between 1870 and 2010 an unprecedented explosion of material wealth transformed the globe, but that wave of prosperity failed to create a fully functioning and equal society. How did we manage to create an economic pie large enough for everyone to share, but then fumble dividing that pie up equally? Brad DeLong explores this question in his new book, Slouching Towards Utopia, which looks at the economic history of the twentieth century and why it matters today.

J. Bradford DeLong is an economic historian and a professor of economics at the University of California, Berkeley. He was a deputy assistant secretary of the U.S. Treasury during the Clinton administration. He writes a widely read economics blog, now at braddelong.substack.com

Twitter: @delong

Slouching Towards Utopia https://www.basicbooks.com/titles/j-bradford-delong/slouching-towards-utopia/9780465019595

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The problem with unequal cities (with Richard McGahey) Mar 14, 2023

We've released dozens of episodes exploring how to improve the lives of Americans that live in rural areas, but we don’t often discuss how cities (and the folks that live in them) are being left behind by state lawmakers and federal policies. This is a problem because cities are key to innovation and economic growth. Richard McGahey's new book explores how to overcome anti-urban bias in order to reduce inequality in cities throughout the United States.

Richard McGahey is an economist and senior fellow at the Schwartz Center for Economic Policy Analysis and the Institute on Race, Power, and Political Economy, both within The New School.

Twitter: @rickmcgahey

Unequal Cities http://cup.columbia.edu/book/unequal-cities/9780231173346

Redefining Rural America https://pitchforkeconomics.com/episode/redefining-rural-america-with-olugbenga-ajilore/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The high price of misclassification (with Heidi Shierholz) Mar 07, 2023

A new report from the Economic Policy Institute found that anywhere from 10 to 30 percent of employers are essentially stealing thousands of dollars from their workers every year by misclassifying them as independent contractors. In addition to lower pay, those misclassified workers are also deprived of employer-provided benefits like health care and labor rights like basic safety regulations. Returning guest Heidi Shierholz walks us through the report and explains how to figure out if your employer is stealing from you by classifying you as an independent contractor.

Heidi Shierholz is the president of the Economic Policy Institute, a nonprofit, nonpartisan think tank that uses the power of its research on economic trends and on the impact of economic policies to advance reforms that serve working people, deliver racial justice, and guarantee gender equity.

Twitter: @hshierholz

The economic costs of worker misclassification https://www.epi.org/publication/cost-of-misclassification

Shared security, shared growth https://democracyjournal.org/magazine/37/shared-security-shared-growth

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why Walmart workers are still broke (with Rick Wartzman) Feb 28, 2023

Goldy and Paul interview author Rick Wartzman about how America’s biggest employer (Walmart) began taking better care of its workers (by raising wages)—and why that decision might be too little, too late. According to Wartzman, Walmart has gone through a remarkable transformation, but there are limits to how much positive change this brand of socially conscious capitalism can create.

Rick Wartzman is co-president of Bendable Labs, a technology, consulting and research firm that builds and tests social innovations in the areas of lifelong learning, workforce development and job quality. He’s the author of several books that meet at the intersection of business and society including Still Broke: Walmart's Remarkable Transformation and the Limits of Socially Conscious Capitalism, The End of Loyalty: The Rise and Fall of Good Jobs in America, Obscene in the Extreme: The Burning and Banning of John Steinbeck’s The Grapes of Wrath, and The King of California: J.G. Boswell and the Making of a Secret American Empire.

Twitter: @RWartzman

Still Brokehttps://www.publicaffairsbooks.com/titles/rick-wartzman/still-broke/9781549156250

Walmart and McDonald’s have the most workers on food stamps and Medicaid, new study shows https://www.washingtonpost.com/business/2020/11/18/food-stamps-medicaid-mcdonalds-walmart-bernie-sanders

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why stock buybacks should be taxed more (with Cory Booker) Feb 21, 2023

Stock buybacks are one of the worst excesses of modern capitalism, which naturally means they're one of our favorite subjects to cover on the podcast. And since they’re in the news again, we thought it would be a good time to revisit one of our first episodes, from 2019. How much has changed over the past 4 years? President Biden’s proposal to raise taxes on buybacks to 4% is the most promising update so far, but much of our conversation with Senator Cory Booker remains relevant today.

This episode originally aired on February 26, 2019.

Cory Booker is the U.S. Senator from New Jersey. Since 2013, Cory has written and championed dozens of bills aimed at fixing our broken criminal justice system, expanding economic opportunity, and fighting for equal justice for everyone.

Twitter: @CoryBooker

The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda

Stock buybacks are soaring to record levels — and Cory Booker wants to stop it https://www.vox.com/policy-and-politics/2018/3/6/17083398/booker-buyback-populist

Stock Buybacks Are Killing the American Economy https://www.theatlantic.com/politics/archive/2015/02/kill-stock-buyback-to-save-the-american-economy/385259

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Biden is restoring economic competition (with David Dayen) Feb 14, 2023

In July 2021, President Biden signed an executive order directing government agencies to rewrite policies to encourage competition in the U.S. economy. Returning guest David Dayen has compiled 18 months’ worth of actions resulting from this order. After more than four decades of unrestrained corporate power, Dayen explains, competition is finally returning to the economy—and that’s good news for everyone.

David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His most recent book is ‘Monopolized: Life in the Age of Corporate Power.’

Twitter: @ddayen

A Pitched Battle on Corporate Power https://prospect.org/economy/2023-01-25-pitched-battle-corporate-power

The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why canceling student debt makes great economic sense (with Fenaba Addo) Feb 07, 2023

When the Biden Administration announced last year that they would forgive up to $20,000 student loan debt per individual, millions of people celebrated—and for good reason. The student loan debt that Americans carry has ballooned to $1.8 trillion in recent decades, threatening the economic security of American households from coast to coast and up and down the income scale. Unfortunately, the Biden forgiveness plan has been tied up in several lawsuits, and the Supreme Court will hear oral arguments for these lawsuits at the end of February, with a final decision expected later this spring.

As the conversation over student loans heats back up, we’re revisiting our conversation with Associate Professor Fenaba Addo. Addo helps us explore the merits and shortcomings of student debt cancellation, and explains why canceling student debt would actually be good for the economy. You’ll also hear from Pitchfork listeners who share how student loan forgiveness would change their lives.

This episode originally aired on December 22, 2020.

Fenaba Addo is an Associate Professor of Public Policy at University of North Carolina-Chapel Hill. She specializes in debt and racial wealth inequality. Her first book, A Dream Defaulted: The Student Loan Crisis Among Black Borrowers, is available now by Harvard Education Press.

Twitter: @FenabaAddo

The Biden-Harris Administration’s Student Debt Relief Plan Explained https://studentaid.gov/debt-relief-announcement

Is Student Debt Forgiveness Still Going to Happen? https://www.nerdwallet.com/article/loans/student-loans/debt-relief-lawsuits-qa

Forget fairness: Canceling all student debt makes great economic sense for America — here's why https://www.businessinsider.com/why-canceling-student-debt-makes-great-economic-sense-for-america-2020-12

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The many benefits of a guaranteed job program (with Max Kasy and Lukas Lehner) Jan 31, 2023

Oxford economists are currently running the world’s first Universal Job Guarantee program in Austria, and so far the results are very promising. When unemployed people have guaranteed access to training and/or a job, those people feel more in control of their lives and become more financially secure…and happier, too. The study’s co-authors join us to explain why they believe a guaranteed jobs program like this could work in other countries—including the United States.

Maximilian Kasy is a Professor of Economics at the University of Oxford

Lukas Lehneris an Economist at the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford) and the Department of Social Policy and Intervention, University of Oxford

Twitter: @maxkasy, @LukasLehner_

World’s first universal job guarantee boosts wellbeing and eliminates long-term unemployment https://www.inet.ox.ac.uk/news/worlds-first-universal-job-guarantee-boosts-wellbeing-and-eliminates-long-term-unemployment

Does the future of work include a Federal Jobs Guarantee? https://pitchforkeconomics.com/episode/does-the-future-of-work-include-a-federal-jobs-guarantee-with-pavlina-tcherneva-and-representative-ro-khanna

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The legacy of the Fight for $15 (with NELP) Jan 24, 2023

Exactly one decade ago, activists and civic leaders launched the Fight for $15. It’s hard to recall now, but the idea was wildly controversial at the time—Forbes called Nick’s support of a $15 minimum wage “near-insane,” for example. A new report from the National Employment Law Project (NELP) examines the legacy of the movement and all that it has accomplished in the last 10 years. Two of the report’s authors join us to discuss the Fight for $15’s impact beyond growing paychecks, including its effect on the racial wealth gap, union participation, and the economy overall.

Yannet Lathrop is a Senior Researcher and Policy Analyst for the National Employment Law Project.

Dr. T. William Lester is Professor and Acting Chair of Urban and Regional Planning at San José State University and Research Professor at UNC Chapel Hill.

Twitter: @NELPnews

Ten-Year Legacy of the Fight for $15 and a Union Movement https://www.nelp.org/publication/10-year-legacy-fight-for-15-union-movement/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Sci-Fi Economics (with Kim Stanley Robinson) Jan 17, 2023

We can’t tear down the existing economic framework and replace it with a better one without first telling a persuasive story about how the economy actually works. And few people in the world are more compelling storytellers than science fiction author Kim Stanley Robinson.

In his speculative near-future novel The Ministry for the Future, Stan explains complicated economic theories better than most economists. He joins Nick and Goldy for a fascinating conversation about the role of economics in both climate change fiction and climate change reality.

Kim Stanley Robinson is a New York Times bestseller and winner of the Hugo, Nebula, and Locus awards. He is the author of more than twenty books, including the bestselling Mars trilogy and the critically acclaimed New York 2140 and The Ministry for the Future.

Facebook: Kim Stanley Robinson

The Ministry for the Future https://www.hachettebookgroup.com/titles/kim-stanley-robinson/the-ministry-for-the-future/9780316300148

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The real reasons why inflation soared last year (with Ira Regmi) Jan 10, 2023

For most of last year economists and pundits engaged in a long, circular debate about why inflation was spiking around the world, and who was to blame for those skyrocketing prices. Economic experts at the Roosevelt Institute (including past guest Joseph Stiglitz) have finally revealed the root causes of global inflation in a new report. Stiglitz’s co-author, Ira Regmi, shares what they’ve learned.

Ira Regmi is the Program Manager for the Macroeconomic Analysis program at the Roosevelt Institute. They support the team’s work on fiscal and monetary policy, unemployment, and growth to ensure an economy that works for all.

Twitter: @Regmi_Ira

The Causes of and Responses to Today’s Inflation https://rooseveltinstitute.org/publications/the-causes-of-and-responses-to-todays-inflation

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

New Year, New AMA Jan 03, 2023

Nick and Goldy kick off the New Year by answering more of your questions! Has there ever been a time period with strong deflation? Should folks prepare for an upcoming recession? Why aren’t we allowed to question the free market? And much more.

If you have questions for a future “Ask Me Anything” episode, leave us a voicemail at 731-388-9334.

Don’t forget to follow the show wherever you listen and if that happens to be on Apple or Spotify, please give us a 5 star rating or review!

https://www.nytimes.com/2021/12/02/business/mississippi-abortion-law-economy.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Revisiting the economics of abortion (with Caitlin Myers) Dec 27, 2022

Out of all the topics we discussed in 2022 one stayed at the top of headlines all year long: abortion. We spoke to Professor Caitlin Myers in February of this year, months before the Supreme Court overturned Roe v Wade. She shared data from her research and provided examples of the causal links between abortion access and economic outcomes in women’s lives. It’s an illuminating episode, and one that will be just as relevant in 2023 as it was for all of 2022.

This episode originally aired on February 22, 2022.

Caitlin Knowles Myers is the John G. McCullough professor of economics at Middlebury College and Co-Director of the Middlebury Initiative for Data and Digital Methods. She’s known for her recent research on the impact of contraception and abortion policies in the United States.

Twitter: @Caitlin_K_Myers

Opinion: Economists can tell you that restricting abortion access restricts women’s liveshttps://www.washingtonpost.com/opinions/2021/11/29/abortion-economics-supreme-court

Lack of abortion access will set US women back, economists warn https://www.ft.com/content/61251b31-0041-461c-bd33-aacf2f13fe10

What can economic research tell us about the effect of abortion access on women’s lives?https://www.brookings.edu/research/what-can-economic-research-tell-us-about-the-effect-of-abortion-access-on-womens-lives

The economic reality behind a Mississippi anti-abortion argument

The Economic Consequences of Being Denied an Abortionhttps://www.nber.org/papers/w26662

The Turnaway Study https://www.ansirh.org/research/ongoing/turnaway-study

https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Revisiting corporate greed’s effect on the supply chain (with Rakeen Mabud) Dec 20, 2022

Judging by the amount of downloads for this episode, we’d say it was our listeners’ favorite from the past year. “Did Corporate Greed Break the Supply Chain?” with Rakeen Mabud from the Groundwork Collaborative exposes how the supply chain was actually designed: not for reliably getting goods to people, but for maximizing profit. Unfortunately, that’s something many Americans came to realize in 2022 as prices skyrocketed and store shelves were left empty.

This episode originally aired on March 22, 2022.

Rakeen Mabud is the Chief Economist and Managing Director of Policy and Research at the Groundwork Collaborative.

Twitter: @rakeen_mabud

How We Broke the Supply Chain https://prospect.org/economy/how-we-broke-the-supply-chain-intro/

Corporations Raise Prices as Consumers Spend ‘With a Vengeance’

Opinion: Larry Summers Shares the Blame for Inflation https://www.nytimes.com/2022/02/28/opinion/larry-summers-inflation.html

Inflation causing financial strain for nearly half of U.S. households, poll finds

https://www.washingtonpost.com/business/2021/12/02/inflation-gallup-financial-hardship/

Stock Buybacks Beat Capital Spending for Many Big Companies

https://www.wsj.com/articles/stock-buybacks-beat-capital-spending-for-many-big-companies-11631611802

The stock market is punishing Walmart and Target for keeping costs low while the rest of the corporate sector prioritizes profits and makes inflation worse

https://www.businessinsider.com/walmart-target-keep-prices-low-corporations-prioritize-profits-inflation-worse-2021-11

https://capitalandmain.com/for-americas-top-ranked-ceos-too-much-is-never-enough

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

CEO Pay is out of control (with Mark Kreidler) Dec 13, 2022

A new report from the Economic Policy Institute looks into the salary and stock packages of America’s most overcompensated corporate titans and the numbers are staggering. According to journalist Mark Kreidler, who recently covered the report for Capital + Main, CEO paychecks are a huge contributor to inequality. He joins the podcast to share why more people would do better if CEOs were paid less.

We want your questions for another “Ask Me Anything” episode with Nick and Goldy! Call and leave us a voicemail at 731-388-9334.

Mark Kreidler is a California-based writer, journalist, and broadcaster. He’s the author of three books, including Four Days to Glory.

Twitter: @MarkKreidler

For America’s Top-Ranked CEOs, Too Much Is Never Enough

CEO pay has skyrocketed 1,460% since 1978

https://www.epi.org/publication/ceo-pay-in-2021

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

America isn’t lost, it’s Adrift (with Scott Galloway) Dec 06, 2022

Inequality has grown so large that a number of pessimists believe America is lost. But Professor Scott Galloway argues that our nation is actually adrift, and in his latest book he explains what needs to be done to fix this imbalance and rebuild America’s foundations. Galloway joins Nick and Goldy for an honest conversation about age inequality, the middle class, corporate consolidation, and more.

Scott Galloway is Professor of Marketing at NYU Stern School of Business and a serial entrepreneur. He is the bestselling author of Post Corona, The Four, The Algebra of Happiness, and most recently Adrift.

Twitter: @profgalloway

Adrift: America in 100 Charts https://www.penguinrandomhouse.com/books/713560/adrift-by-scott-galloway

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Fair Social Contracts (with Eric Beinhocker) Nov 29, 2022

Human society is built on social contracts, but decades of neoliberalism have left many of our most fundamental contracts—worker power, social safety nets, trust in key institutions— in tatters. It’s no wonder that people are pissed off: without fairness, we can’t have cooperation, and without cooperation, we can’t have a strong economy… or a strong democracy. Can we restore the social contracts that served us so well, or has our sense of fairness been damaged beyond repair? Oxford economics professor Eric Beinhocker shares his latest research into the psychology and economics of cooperation.

Eric Beinhocker is a Professor of Public Policy Practice at the Blavatnik School of Government and the Executive Director of the Institute for New Economic Thinking at the University of Oxford’s Martin School.

Twitter: @EricBeinhocker, @INETOxford

Fair Social Contracts and the Foundations of Large-Scale Collaboration https://www.inet.ox.ac.uk/publications/no-2022-26-fair-social-contracts-and-the-foundations-of-large-scale-collaboration

INET Oxford https://www.inet.ox.ac.uk

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Charting a new path forward (LIVE from EconCon Presents) Nov 22, 2022

In one of the highlights of last week’s EconCon Presents event in Washington D.C., Washington Post columnist Perry Bacon Jr. convened an all-star panel of political experts. Maurice Mitchell, Faiz Shakir, and Anna Greenberg joined Bacon to share lessons learned from the midterm elections, and debate strategies for driving the progressive economic agenda forward in 2023 and beyond.

Thanks to our friends at EconCon for sharing audio of this event for Pitchfork Economics listeners. For more information about upcoming EconCon events, follow them on Twitter: @EconConPresents.

https://ilsr.org/rolling-back-corporate-concentration-how-new-federal-anti-merger-guidelines-can-restore-competition-and-build-local-power

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why we can't let Kroger buy Albertsons (with Stacy Mitchell) Nov 15, 2022

Kroger wants to buy Albertsons and effectively become the second-largest grocery chain in the United States. This merger would result in less competition, rising grocery prices, and lower wages. Corporate greed has gotten us into this mess, but new federal anti-merger guidelines, and some tenacious Attorneys General, may just get us out. Returning guest Stacy Mitchell explains why mergers like this one are bad news for workers and shoppers alike.

Stacy Mitchell is Co-Executive Director of the Institute for Local Self-Reliance, a research and advocacy organization that challenges concentrated corporate power and works to build thriving, equitable communities.

Twitter: @stacyfmitchell

Institute for Local Self-Reliance: https://ilsr.org

Stacy Mitchell Responds to Kroger’s Bid to Buy Albertsons https://ilsr.org/statement-kroger-albertsons-merger

Report: How New Federal Anti-merger Guidelines Can Roll Back Corporate Concentration and Build Local Power

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The reality of voter suppression in America (with Andrea Hailey) Nov 08, 2022

If there's one thing we learned from the far-right campaign against voting rights following the 2020 election, it's how fragile our democracy really is. That’s why we’re celebrating Election Day 2022 by revisiting our conversation with Vote.org CEO Andrea Hailey, who explains how voter suppression happens and what reforms would help ensure a truly inclusive democracy. Don’t forget to vote!

This episode originally aired in October 2021.

Andrea Hailey is the CEO of Vote.org, the nation’s largest nonpartisan digital voter engagement organization.

Twitter: @AndreaEHailey

Vote.org: https://www.vote.org

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Chokepoint Capitalism (with Cory Doctorow and Rebecca Giblin) Nov 01, 2022

Corporate concentration has strained the labor market for virtually all workers, but the resulting lack of competition has caused unique harm to the creative economy. Increasingly exploitative monopolies have rendered artists, authors, musicians, and other creative workers all but powerless. Novelist Cory Doctorow and intellectual property expert Rebecca Giblin discuss their new book, Chokepoint Capitalism, which documents the increasing tensions between extractive corporations and creative laborers, and offers solutions to help fight back against the devaluation of creativity.

Cory Doctorow is a science fiction writer and activist, as well as a special advisor to the Electronic Frontier Foundation, a visiting professor of computer science at the Open University and of library science at the University of North Carolina, and an MIT Media Lab research affiliate.

Rebecca Giblin is an ARC Future Fellow and Professor at Melbourne Law School. She is Director of the Intellectual Property Research Institute of Australia and heads up the Author’s Interest and eLending projects.

Twitter: @doctorow, @rgibli

Chokepoint Capitalism: How Big Tech and Big Content Captured Creative Labor Markets and How We'll Win Them Back http://www.beacon.org/Chokepoint-Capitalism-P1856.aspx

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Middle-Out Messaging for the Midterms (with Melissa Morales and Bobby Clark) Oct 25, 2022

Economics is another form of storytelling—specifically, it’s the story of who gets what and why. And as the rise of trickle-down and middle-out economics shows us, telling the right story at the right time can transform the economy for a generation. The same is true for politics, but simple and easy-to-understand narratives are notoriously not a strength of Democratic politicians. That’s what the folks at the Winning Jobs Narrative Project are trying to fix. On this must-listen episode before the midterm elections, Bobby Clark and Melissa Morales explain why messaging matters to voters.

Bobby Clark is a Communications Strategist who advises philanthropic and progressive advocacy organizations on investments in communications research, structures, and campaigns. Bobby led the team that developed the Winning Jobs Narrative.

Twitter: @bobbyprogress

Melissa Morales is the Founder and President of Somos Votantes (C4) & Somos PAC (527), which are currently running multi-million dollar Latino-focused electoral programs in battleground states ahead of the 2022 midterm elections.

Twitter: @Melissa_in_DC

The Winning Jobs Narrative Project https://winningjobsnarrative.org

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

A brief history of Middle-Out Economics (with Michael Tomasky) Oct 18, 2022

We’ve lived in the shadow of trickle-down economics for over 40 years. During that time, our leaders unquestioningly embraced economic policies that prioritize the wealthiest and most powerful, with the idea that their wealth will eventually "trickle down" to everyone else. Finally, a contrasting progressive economic understanding is beginning to take hold. Middle-out economics—the idea that prioritizing the working- and middle-class is better for everyone in the economy—is having a moment. But where did middle-out come from? Michael Tomasky’s new book chronicles the history of middle-out and the rise of progressive economics in the United States.

Michael Tomasky is a journalist and author. He’s top editor of The New Republic, editor of Democracy: A Journal of Ideas, and a contributing opinion writer for The New York Times.

Twitter: @mtomasky

The Middle Out https://www.penguinrandomhouse.com/books/671443/the-middle-out-by-michael-tomasky

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why won't trickle-down die? (with Mark Blyth) Oct 11, 2022

While President Biden has embraced middle-out economics here in the states, the UK’s new leaders have decided to enthusiastically revive trickle-down economics. Political economist Mark Blyth, who teaches International Economics, shares his thoughts on the United Kingdom’s troubling new budget policies, certainty’s role in building an economy, and much more on this wide-ranging episode.

Mark Blyth is Director of the William R. Rhodes Center for International Economics and Finance. He’s a professor, author, and political economist. His latest book, Diminishing Returns, is out now.

Twitter: @MkBlyth

Forget trickle down, what the UK needs is middle-out economics https://www.theguardian.com/politics/2022/sep/25/forget-trickle-down-what-the-uk-needs-is-middle-out-economics

Angrynomics by Mark Blyth and Eric Lonergan https://angrynomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How to repair the housing crisis (with Jenny Schuetz) Oct 04, 2022

The United States is in the midst of a housing crisis. Prices are skyrocketing, supply is dwindling, and wages haven't kept up with cost of living. It's a complicated problem, but the good news is that many of its solutions are relatively simple. Jenny Schuetz literally wrote the book on how good policy solutions can help resolve some of the worst pressures on our stressed housing market.

Jenny Schuetz is a Senior Fellow at Brookings Metro, and is an expert in urban economics and housing policy. She’s also the author of a new book, Fixer-Upper: How to Repair America’s Broken Housing Systems.

Twitter: @jenny_schuetz

Fixer-Upper: How to Repair America's Broken Housing Systems https://www.brookings.edu/book/fixer-upper

Don’t Think of a Recession https://civicventures.substack.com/p/dont-think-of-a-recession

https://www.phenomenalworld.org/analysis/crisis-of-non-repayment

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How student loan forgiveness rebuilds the economy from the middle out (with Marshall Steinbaum) Sep 27, 2022

President Biden recently announced his plan for student loan forgiveness. It’s a policy that helps build the economy from the middle out by erasing some of the 1.7 trillion dollars in debt that’s holding Americans back. Economist Marshall Steinbaum, who has spent most of his career researching student debt, explains why this forgiveness plan is a great start—and why Biden can, and should, do more.

Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow in Higher Education Finance at Jain Family Institute.

Twitter: @Econ_Marshall

The Student Debt Crisis is a Crisis of Non-Repayment

A Middle-Out Education https://civicventures.substack.com/p/a-middle-out-education

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Measuring long Covid's impact on the labor market (with Katie Bach) Sep 20, 2022

Millions of Americans are being kept out of the workforce due to the lingering effects of Covid, resulting in billions of dollars in lost wages and productivity. How is this affecting our economy? Returning guest Katie Bach shares the findings from her new report which outlines just how severe the labor market effects of long Covid have become.

Kathryn Bach is a Nonresident Senior Fellow at the Brookings Institute and the CBO of &pizza.

Twitter: @kathrynsbach

New data shows long Covid is keeping as many as 4 million people out of work https://www.brookings.edu/research/new-data-shows-long-covid-is-keeping-as-many-as-4-million-people-out-of-work

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

We need to fix overtime pay in America (with Marcus Baram) Sep 13, 2022

If you're a salaried worker, chances are you're no longer eligible for the overtime pay that you would have received 40 years ago. A robust federal overtime standard used to serve as a kind of minimum wage for the middle class, providing both a valuable source of extra income and a shield of protection for the 40-hour workweek. When he interviewed workers around the country, Journalist Marcus Baram learned firsthand why we must raise the overtime threshold and restore overtime protections for American workers.

Marcus Baram is a journalist and author who has written for The New Yorker, The WSJ, Capital & Main, and more

Twitter: @mbaram

(Full disclosure: Civic Ventures is a partial funder of Capital & Main's inequality reporting project.)

Who Killed Overtime Pay? https://capitalandmain.com/latest-news/the-50-100-pay-gap/who-killed-overtime-pay-the-50-100-pay-gap

America Gave Up on Overtime https://time.com/6168310/overtime-pay-history

https://www.americanprogress.org/article/top-11-benefits-of-the-inflation-reduction-act

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the Inflation Reduction Act benefits the middle class (with Rose Khattar) Sep 06, 2022

The Inflation Reduction Act may be smaller than the original Build Back Better plan, but it still represents a huge leap forward in middle-out economic thinking. The IRA addresses out-of-control healthcare costs, it helps build a fairer tax code, and it combats the climate crisis. It’s a huge win for the Biden administration and, more importantly, for the middle class. Economist Rose Khattar breaks down the many benefits of the IRA on our first episode back from summer break.

Rose Khattar is the Associate Director of Economic Analysis at the Center for American Progress.

Twitter: @rose_khattar

Top 11 Benefits of the Inflation Reduction Act

I Helped Coin the Phrase “Middle-Out Economics”, Biden is Making It a Reality https://newrepublic.com/article/167506/biden-middle-out-economics

How the Inflation Reduction Act could help normal Americans fight rising costs https://www.businessinsider.com/democratic-budget-bill-inflation-reduction-act-could-fight-intrest-rates-2022-8

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The limits of the market (with Joseph Stiglitz) Aug 30, 2022

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the supply chain disruptions that left store shelves empty for much of the pandemic demonstrate that the markets aren’t the efficient adapters that classic economists believe them to be. Nobel laureate economist Joseph Stiglitz explains why the tendency to believe in the market is one of the most deeply rooted trickle-down myths, and why government intervention is the best way to respond to economic downturns.

This episode was originally released in May 2020.

Joseph Stiglitz is a Nobel laureate economist and a professor at Columbia University. He is also the co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute.

Twitter: @JosephEStiglitz

People, Power, and Profits: Progressive Capitalism for an Age of Discontent: https://www.indiebound.org/book/9781324004219

Four Priorities for Pandemic Relief Efforts: https://rooseveltinstitute.org/four-priorities-for-covid19-pandemic-relief-efforts/

Why Our Affluent Society Is Facing Shortages in the Face of the Coronavirus Pandemic: https://time.com/5811505/affluent-society-shortages-coronavirus-pandemic

Deficit Lessons for the Pandemic From the 2008 Crisis: https://prospect.org/economy/deficit-lessons-pandemic-2008-crisis/

How the Economy Will Look After the Coronavirus Pandemic: https://foreignpolicy.com/2020/04/15/how-the-economy-will-look-after-the-coronavirus-pandemic/

Top economist: US coronavirus response is like ‘third world’ country: https://www.theguardian.com/business/2020/apr/22/top-economist-us-coronavirus-response-like-third-world-country-joseph-stiglitz-donald-trump

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why essential work is essentially forced labor (with Suresh Naidu) Aug 23, 2022

What became known as “essential work” during the pandemic was really just forced labor, according to labor market economist Suresh Naidu. He shares employers' secret tricks for manipulating the labor market and explains how powerless most workers have become as a result.

This episode was originally released in September 2020.

Suresh Naidu is a professor of economics and international and public affairs at Columbia University as well as a fellow at the Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at the National Bureau of Economic Research.

Twitter: @snaidunl

‘Essential’ workers are just forced laborers: https://www.washingtonpost.com/outlook/2020/05/21/essential-workers-pay-wages-safety-unemployment

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How inequality cost workers $50 trillion (with Carter Price) Aug 16, 2022

Did you know that since 1975 a staggering $50 trillion has been diverted from the paychecks of working Americans to the pockets of the wealthiest 1%? That shocking number was discovered in a groundbreaking study done by the RAND Corporation that finally put a price tag on the massive inequality we’ve seen in America over the last 40 years.

This episode was originally released in September 2020.

Carter C. Price is a senior mathematician at the RAND Corporation.

Twitter: @CarterCPrice

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90% – And That’s Made the U.S. Less Secure: https://time.com/5888024/50-trillion-income-inequality-america/

“We were shocked”: RAND study uncovers massive income shift to the top 1%: https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Reclaiming conservative economics (with Oren Cass) Aug 09, 2022

These days "conservative economics" can mean anything from strict libertarianism to formless Trumpism. But what were the foundations of American conservatism? According to Oren Cass, the executive director of a think tank called American Compass, the answer is simple: family, community, and industry. He shares his mission to reclaim American conservatism and joins Nick and Goldy in a search for some common ground.

This episode was originally released in December 2020.

Oren Cass is the executive director of American Compass, whose mission is to restore an economic orthodoxy that emphasizes the importance of faith, community, and industry to the nation’s liberty and prosperity. He is the author of ‘The Once and Future Worker: A Vision for the Renewal of Work in America’.

Twitter: @oren_cass

Workers of the World: https://americancompass.org/essays/workers-of-the-world

The elite needs to give up its GDP fetish: https://www.nytimes.com/2020/08/27/opinion/us-gdp-coronavirus.html

Oren Cass on the future of economics and society: https://www.manhattan-institute.org/economics-after-partisanship-markets-society

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Mission Economy (with Mariana Mazzucato) Aug 02, 2022

What do the internet and COVID vaccines have in common? Neither would be possible without the work of DARPA, a mission-focused federal agency responsible for funding research and development. Professor Mariana Mazzucato explains that our economy would be better off if more government agencies adopted DARPA’s mission-oriented approach.

This episode was originally released in May 2021. You can find the show notes and transcript for that episode here.

Mariana Mazzucato is a Professor in the Economics of Innovation and Public Value at University College London, where she is Founding Director of the UCL Institute for Innovation and Public Purpose. She is the author of three highly-acclaimed books: The Entrepreneurial State, The Value of Everything, and Mission Economy.

Twitter: @MazzucatoM

Mission Economy: https://marianamazzucato.com/books/mission-economy

It’s 2023. Here’s how we fixed the global economy: https://time.com/collection/great-reset/5900739/fix-economy-by-2023

DARPA’s early investment in COVID-19 antibody identification producing timely results: https://www.darpa.mil/news-events/2020-11-10

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick's twitter: @NickHanauer

How American tax policy fosters racial inequality (with Dorothy A. Brown) Jul 26, 2022

While most Americans know that our tax system advantages wealthy white families, not as many people realize how much it also actively disadvantages Black families. Tax law professor Dorothy Brown breaks down how racial inequality is built into U.S. tax policy and how we can try to fix it.

This episode was originally released in November 2021.

Dorothy A. Brown is professor of law at Emory University School of Law. She is a nationally recognized scholar in tax policy, race, and class and has published extensively on the racial implications of federal tax policy. She is the author of The Whiteness of Wealth: How the Tax System Impoverishes Black Americans — And How We Can Fix It.

Twitter: @DorothyABrown

The Whiteness of Wealth: https://bookshop.org/books/the-whiteness-of-wealth-how-the-tax-system-impoverishes-black-americans-and-how-we-can-fix-it/9780525577324

Black families pay significantly higher property taxes than white families, new analysis shows: https://www.washingtonpost.com/business/2020/07/02/black-property-tax/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

We can redefine worker power (with Elizabeth Anderson) Jul 19, 2022

What are the ethical limits of the market? How do we shift the balances of power back towards workers? What does true freedom really look like? Nick and Goldy explore these questions and more in a fascinating conversation with Philosophy Professor, Elizabeth Anderson.

This episode was originally released in September 2020.

Elizabeth Anderson is the Arthur F. Thurnau Professor and John Dewey Distinguished University Professor of Philosophy and Women’s Studies at the University of Michigan. She is the author of Private Government: How Employers Rule Our Lives (and Why We Don’t Talk About It), and a recipient of the 2019 MacArthur Fellowship.

Private Government: https://press.princeton.edu/books/hardcover/9780691176512/private-government

The philosopher redefining equality: https://www.newyorker.com/magazine/2019/01/07/the-philosopher-redefining-equality

https://campaigntoendqualifiedimmunity.org

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Can corporations help repair society? (with Ben & Jerry) Jul 12, 2022

Business leaders can use their power and resources to make meaningful change, but should they? Ben Cohen and Jerry Greenfield, the founders of iconic ice cream brand Ben & Jerry’s, have navigated the landscape between business and activism since the 1970’s. They share their thoughts and experiences as well as their latest mission: ending qualified immunity.

This episode was originally recorded and released in April 2021.

Ben Cohen and Jerry Greenfield are the co-founders of Ben & Jerry’s Ice Cream. They’re also leaders of the Campaign to End Qualified Immunity, a police reform and criminal justice campaign.

Ben’s twitter: @YoBenCohen

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Jul 05, 2022

Nick and Goldy answer more of your questions! What’s the deal with cryptocurrency? How are people still saying that inflation was caused by the stimulus? Is capitalism better than market socialism? Plus some summer reading recommendations and an important podcast announcement.

If you have questions for a future AMA episode, leave us a voicemail at 731-388-9334.

Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire” https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire

Consumers deserve an inflation rebate (with Congressman Ro Khanna) https://pitchforkeconomics.com/episode/consumers-deserve-an-inflation-rebate-with-congressman-ro-khanna/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Has Chile defeated neoliberalism? (with Marcelo Casals) Jun 28, 2022

Chile has a proud tradition of protests, but the unrest of 2019 was different. More than a million people took to the streets to protest their nation’s vast inequality. The uprising made international news, unseated a neoliberal dictatorship, and led to the election of a new president—but did it also create lasting change? Chilean historian Marcelo Casals catches us up on the latest developments in Chile’s battle against neoliberalism.

Marcelo Casals is an independent scholar based in Santiago. He holds a PhD in Latin American history from the University of Wisconsin-Madison, and recently wrote an article for Dissent Magazine titled, ‘The End of Neoliberalism in Chile?’

Twitter: @Palquelea

The End of Neoliberalism in Chile? https://www.dissentmagazine.org/online_articles/the-end-of-neoliberalism-in-chile

Gabriel Boric: From student protest leader to Chile’s president: https://www.bbc.com/news/world-latin-america-59694056

‘Chile Woke Up’: Dictatorship’s Legacy of Inequality Triggers Mass Protests: https://www.nytimes.com/2019/11/03/world/americas/chile-protests.html

The texture piece is from 2019 and is courtesy of Gustavo de la Piedra, a listener from Santiago, Chile. The news clips are sourced from the news station France 24.

Pay Up https://www.simonandschuster.com/books/Pay-Up/Reshma-Saujani/9781982191573

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Marshall Plan for Moms (with Reshma Saujani) Jun 21, 2022

Millions of Americans lost their jobs because of the pandemic. While men have returned to their pre-pandemic level of employment, a million women are still missing from the workforce. Without access to paid maternity leave and affordable child care, women are choosing to stay home – or being forced to. It’s time for a more inclusive economic recovery. Reshma Saujani, the Founder of Girls Who Code and the Marshall Plan for Moms, has a plan to get us there.

Reshma Saujani is the founder of Girls Who Code and the Marshall Plan for Moms. She’s also an author of several books, her latest is called Pay Up: The Future of Women and Work (and Why It's Different Than You Think)

Twitter: @reshmasaujani

McKinsey - Meeting the challenge of moms’ ‘double double shift’ at home and work: https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/future-of-america/meeting-the-challenge-of-moms-double-double-shift-at-home-and-work

The Business Case for Child Care: https://marshallplanformoms.com/childcare-report/

Marshall Plan for Moms https://marshallplanformoms.com

House Resolution 121 https://www.congress.gov/bill/117th-congress/house-resolution/121

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The inequality of progress (with Oded Galor) Jun 14, 2022

What can the history of human progress teach us about modern inequality? In his new book, ‘The Journey of Humanity: The Origins of Wealth and Inequality,’ economist Oded Galor explores that question, as well as why human progress was stagnant for so much of history, if growth is still possible without ruining the planet, and what this all means for our future.

Oded Galor is a Professor of Economics at Brown University and the founding thinker behind Unified Growth Theory. He’s also the author of The Journey of Humanity: The Origins of Wealth and Inequality.

Twitter: @GalorOded

The Journey of Humanity https://www.penguinrandomhouse.com/books/679024/the-journey-of-humanity-by-oded-galor/

https://press.princeton.edu/books/hardcover/9780691167381/thinking-like-an-economist

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How thinking like economists holds us back (with Elizabeth Popp Berman) Jun 07, 2022

When it comes to crafting economic policy, cost-effectiveness, efficiency, choice, and competition have reigned supreme among policymakers for decades. Sociologist Elizabeth Popp Berman says that this style of economic reasoning—prioritizing efficiency above all else—makes good ideas seem like bad policy. She walks us through how that short-sighted style of thinking took hold in DC and explains when policymakers are right to lean on purely economic thinking—and when they should reject it in favor of prioritizing more fundamental values.

Elizabeth Popp Berman is a sociologist at the University of Michigan and the author of “Thinking Like an Economist: How Efficiency Replaced Equality in U.S. Public Policy”.

Twitter: @epopppp

Economics: Looking Back to Move Forward https://democracyjournal.org/magazine/64/economics-looking-back-to-move-forward

Thinking Like an Economist: How Efficiency Replaced Equality in U.S. Public Policy

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Exploring global solutions to inequality (with Faiza Shaheen) May 31, 2022

Reducing inequality is not only possible, but it’s actually happening all across the globe. Faiza Shaheen, the Inequality Program Lead at NYU, has been researching the conditions and policies that can lower inequality for years. She shares which countries have successfully done so, and speculates about whether the United States has a shot at joining them.

Dr. Faiza Shaheen is the Program Head for the Inequality and Exclusion Grand Challenge of the Pathfinders for Peaceful, Just and Inclusive Societies.

Twitter: @faizashaheen

Solutions to inequality https://medium.com/sdg16plus/solutions-to-inequality-962306388018

From Rhetoric to Action: Delivering Equality & Inclusionhttps://www.sdg16.plus/delivering-equality-and-inclusion

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Inclusion is an economic necessity (with john a. powell) May 24, 2022

john a. powell, the Director of the Othering & Belonging Institute, explains why the concept of belonging is so important for a healthy community and why inclusion is the key to a thriving economy.

john a. powell is the Director of the Othering & Belonging Institute at the University of California, Berkeley.

Twitter: @profjohnapowell

Targeted universalism: a solution for inequality? https://www.cbs8.com/article/news/local/california/targeted-universalism/509-2127090b-7f50-4a91-91e7-04c47acf3309

Othering & Belonging Institute https://belonging.berkeley.edu/john-powell

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Consumers deserve an inflation rebate (with Congressman Ro Khanna) May 17, 2022

Gas prices have reached record highs in the United States. Is inflation actually to blame, or is it the greed of Big Oil, which is enjoying record profits? Congressman Ro Khanna walks us through his proposal for a Big Oil Windfall Profits Tax, which he says will help curb profiteering while reducing gas prices.

Congressman Ro Khanna represents California’s 17th Congressional District. He’s the author of Dignity in a Digital Age: Making Tech Work for All of Us.

Twitter: @RoKhanna

Big Oil Windfall Profits Tax would protect consumers from giant oil companies taking advantage of world events to jack up prices https://khanna.house.gov/media/press-releases/release-gasoline-prices-sky-high-khanna-whitehouse-announce-curb-big-oil

Dignity in a Digital Age https://www.simonandschuster.com/books/Dignity-in-a-Digital-Age/Ro-Khanna/9781982163341

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Biden’s budget proposal takes on corporate power (with Niko Lusiani) May 10, 2022

The Biden Administration’s 2023 budget proposal includes a Billionaire Minimum Income Tax and a rewrite of stock buyback practices. Will these changes actually take effect? If so, will they do enough to curb runaway corporate power? Niko Lusiani from the Roosevelt Institute breaks down what’s inside Biden’s budget.

Niko Lusiani is the Director of Corporate Power at the Roosevelt Institute.

Twitter: @NikoLusiani

Budget of the U.S. Government https://www.whitehouse.gov/wp-content/uploads/2022/03/budget_fy2023.pdf

Roosevelt Institute Responds to Billionaire Minimum Income Tax Proposal in Biden Administration FY 2023 Budget https://rooseveltinstitute.org/2022/03/28/statement-roosevelt-institute-responds-to-billionaire-minimum-income-tax-proposal/

Starbucks Halts Stock Buybacks as Schultz Returnshttps://www.usnews.com/news/business/articles/2022-04-04/starbucks-halts-stock-buybacks-as-schultz-pivots-to-workers#:~:text=Starbucks%20announced%20late%20last%20year,the%20company%20announced%20in%202018

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Pirate equity (with Jim Baker) May 03, 2022

The idea behind private equity firms—to buy failing companies and turn them around for a profit—is not inherently bad. So why is private equity such a major driver of economic inequality? Jim Baker, the Executive Director for the Private Equity Stakeholder Project, explains these Wall Street pirates’ risky business practices and shows how workers are paying the price.

Jim Baker is the Executive Director for the Private Equity Stakeholder Project

Twitter: @PEstakeholder

Pirate Equity: How Wall Street Firms are Pillaging American Retail https://pestakeholder.org/wp-content/uploads/2019/08/Pirate-Equity-How-Wall-Street-Firms-are-Pillaging-American-Retail-July-2019.pdf

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Companies can't self-regulate their way to inclusive capitalism (with Katie Bach) Apr 26, 2022

In 2019, a group of business leaders signed a high-profile pledge promising that they would voluntarily move toward a more inclusive stakeholder-focused version of capitalism. But throughout the pandemic, those same companies reported record profits while workers were left behind. Brookings Institute Senior Fellow Katie Bach walks us through her new report examining the pandemic labor practices of 22 companies, spanning nearly every sector, and employing more than 7 million frontline workers.

Katie Bach is a Nonresident Senior Fellow at the Brookings Institute and the CBO of &pizza.

Twitter: @kathrynsbach

As shareholder wealth soared, workers were left behind https://www.brookings.edu/research/profits-and-the-pandemic-as-shareholder-wealth-soared-workers-were-left-behind

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why your non-compete clause is probably illegal (with Attorney General Bob Ferguson) Apr 19, 2022

Non-compete clauses, and the lesser-known no-poach agreements between franchises, are shockingly common for low-wage workers. Although these contracts were originally intended to protect trade secrets among high-level executives, they have spiraled into an unfair labor practice that keeps wages low, limits employee mobility, and decreases competition. Washington state Attorney General Bob Ferguson explains how non-competes and no-poach agreements violate the law in many states, what his team did to get hundreds of huge employers across the country to cease and desist, and why you should tell your state’s Attorney General if you know of any low- or middle-income workers who are being forced into signing these agreements.

This episode was originally recorded and released in May 2021.

Bob Ferguson is Washington State’s 18th Attorney General. As the state’s chief legal officer, Bob is committed to protecting the people of Washington against powerful interests that don’t play by the rules.

Twitter: @BobFergusonAG

Noncompete agreements have pushed U.S. wages even lower, says

a new Biden administration report: https://www.fastcompany.com/90729820/noncompete-agreements-have-pushed-u-s-wages-even-lower-says-a-new-biden-administration-report

Why aren’t paychecks growing? A burger-joint clause offers a clue: https://www.nytimes.com/2017/09/27/business/pay-growth-fast-food-hiring.html

Workers in Washington state win big under new non-compete law: https://www.emeryreddy.com/2019/09/workers-in-washington-state-win-big-under-new-non-compete-law/

Attorney General Bob Ferguson stops King County coffee shop’s practice requiring baristas to sign unfair non-compete agreements: https://www.atg.wa.gov/news/news-releases/attorney-general-bob-ferguson-stops-king-county-coffee-shop-s-practice-requiring

AG Report: Ferguson’s initiative ends no-poach practices nationally at 237 corporate franchise chains: https://www.atg.wa.gov/news/news-releases/ag-report-ferguson-s-initiative-ends-no-poach-practices-nationally-237-corporate

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How neoliberalism happened (with George Monbiot and Binyamin Appelbaum) Apr 12, 2022

It’s trendy to mock the malicious pervasiveness of neoliberalism now, but have you ever wondered what its origins are? This week, George Monbiot and Binyamin Appelbaum join the show to uncover just where the dominant economic theory of our time came from and how it took hold. This episode was originally recorded and released in October 2019.

George Monbiot writes a weekly column for The Guardian and is the author of a number of books, most recently ‘Out of the Wreckage: A New Politics for an Age of Crisis’. As an investigative journalist and self-described “professional troublemaker,” George uncovers the complicated truths behind the world’s most persistent problems.

Twitter: @GeorgeMonbiot

Binyamin Appelbaum writes about economics and business for the editorial page of The New York Times. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy in the aftermath of the 2008 crisis. His new book, ‘The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society’ is a Wall Street Journal Business Bestseller.

Twitter: @BCAppelbaum

Further reading:

Out of the Wreckage: https://www.indiebound.org/book/9781786632890

The Economists’ Hour: https://www.indiebound.org/book/9780316512329

Neoliberalism - the ideology at the root of all our problems: https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot

Games Economists Play: http://bostonreview.net/class-inequality/marshall-steinbaum-games-economists-play

https://journals.sagepub.com/doi/10.1007/s12114-011-9114-2

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The economics of mass incarceration (with Robynn Cox) Apr 05, 2022

What role does the criminal justice system play in economic inequality? How does economic inequality cause mass incarceration? And how do we tease those two questions apart? Robynn Cox, an expert in the economics of mass incarceration, talks about her research uncovering the links between economic inequality and the criminal justice system.

Robynn Cox is an assistant professor at the University of Southern California School of Social Work. She is an economist and inequality researcher, and her work focuses on understanding the social and economic consequences of mass incarceration.

Twitter: @RobynnCox

Overcoming social exclusion: Addressing race and criminal justice policy in the United States https://equitablegrowth.org/wp-content/uploads/2020/02/Cox.pdf

The Impact of Mass Incarceration on the Lives of African American Women

Identifying the Link Between Food Security and Incarceration

https://onlinelibrary.wiley.com/doi/10.1002/soej.12080

www.robynncox.com

https://onlinelibrary.wiley.com/doi/abs/10.1002/pam.22277

https://www.tandfonline.com/doi/abs/10.1080/07418825.2019.1709883

http://www.jameinpcunningham.com/uploads/1/1/2/0/112070441/black_lives_ccow.pdf

https://cepr.net/work-should-pay-a-15-an-hour-minimum-wage-is-a-start/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why a $15 minimum wage is no longer enough (with Dean Baker) Mar 29, 2022

Ever wondered what the minimum wage would be if it had kept pace with inflation and productivity like it used to? Here’s a hint: $7.25, and even $15.00, don’t come close. Economist Dean Baker has been crunching the numbers on the minimum wage for years. He joins the podcast this week to share what he’s found and why it matters. Since the publication of this episode, the Center for Economic and Policy Research issued a correction to Dean Baker’s August 2021 report that a minimum wage that kept up with productivity would be $26 per hour. In fact, it would be $23 per hour.

Dean Baker is a Senior Economist at the Center for Economic and Policy Research.

Twitter: @DeanBaker13

Further reading:

This is What Minimum Wage Would Be If It Kept Pace with Productivity https://cepr.net/this-is-what-minimum-wage-would-be-if-it-kept-pace-with-productivity/

Work Should Pay: A $15 an Hour Minimum Wage Is a Start

https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Did corporate greed break the supply chain? (with Rakeen Mabud) Mar 22, 2022

While many Americans struggle to make ends meet, corporate America’s 2021 profits were higher than ever. So why are corporations making more money while supply chain issues are still driving up inflation for the rest of us? The Groundwork Collaborative’s Chief Economist, Rakeen Mabud, wants you to know that the supply chain is working exactly as it was designed: for maximum profit, rather than reliably getting goods to people. And that’s the problem.

Rakeen Mabud is the Chief Economist and Managing Director of Policy and Research at the Groundwork Collaborative.

Twitter: @rakeen_mabud

How We Broke the Supply Chain https://prospect.org/economy/how-we-broke-the-supply-chain-intro/

Corporations Raise Prices as Consumers Spend ‘With a Vengeance’

Opinion: Larry Summers Shares the Blame for Inflation https://www.nytimes.com/2022/02/28/opinion/larry-summers-inflation.html

Inflation causing financial strain for nearly half of U.S. households, poll finds

https://www.washingtonpost.com/business/2021/12/02/inflation-gallup-financial-hardship/

Stock Buybacks Beat Capital Spending for Many Big Companies

https://www.wsj.com/articles/stock-buybacks-beat-capital-spending-for-many-big-companies-11631611802

The stock market is punishing Walmart and Target for keeping costs low while the rest of the corporate sector prioritizes profits and makes inflation worse

https://www.businessinsider.com/walmart-target-keep-prices-low-corporations-prioritize-profits-inflation-worse-2021-11

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Free lunch thinking (with Tom Bergin) Mar 15, 2022

Investigative financial analyst Tom Bergin cut his teeth investigating corporate wrongdoing. When he turned his attention to the economics profession, he learned that eight major economic theories—used by experts to shape policy across the globe—entirely lack factual basis. He joins the pod to explain how those theories wormed their way into dominant economic thinking, the evidence against them, and why he believes economists are finally starting to shift toward studying the world as it actually is.

Tom Bergin is an Investigative Financial Journalist for Reuters and the Author of Free Lunch Thinking: How Economics Ruins the Economy

Twitter: @tombergin_News

Further reading:

Economics is Once Again Becoming a Worldly Science https://aeon.co/essays/economics-is-once-again-becoming-a-worldly-science

Free Lunch Thinking https://www.penguin.co.uk/books/111/1118880/free-lunch-thinking/9781847942739.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Congress looks to the CBO for economic expertise. Is that a mistake? (with Mark Paul) Mar 08, 2022

The Congressional Budget Office, the institution that furnishes cost-benefit analyses for federal legislation under consideration by Congress, has a really hard job. But some of the assumptions they rely on to predict economic consequences are just plain weird. Economist Mark Paul leads us through the strangest practices at the CBO, including their (untrue) claim that public investment is only half as productive as private investment and the complete lack of peer-reviewing of reports that can signal the death knell for a bill.

Mark Paul is an Economist at the New College of Florida and a Fellow at the Berggruen Institute.

Twitter: @MarkVinPaul

Further reading:

The Pitch: Economic Update for February 10th, 2022 https://civicventures.substack.com/p/bidens-big-union-push

Mark’s tweet about the CBO: https://twitter.com/MarkVinPaul/status/1491165138288005121

The Macroeconomic and Budgetary Effects of Federal Investment https://www.cbo.gov/publication/51628

CBO issues score on how much Build Back Better would cost if programs were permanent https://www.cnn.com/2021/12/10/politics/build-back-better-cbo-score/index.html

https://www.harpercollins.com/products/davos-man-peter-s-goodman?variant=39325320282146

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Davos Man devours the world (with Peter Goodman) Mar 01, 2022

Billionaires have looted economies, hidden from tax bills, and destabilized democracies for decades. But the subset of billionaires who make a show of pretending to be good citizens have to be the worst among them. They’re called “Davos Man'' and according to New York Times Global Economics Correspondent Peter Goodman, they’re devouring the world we live in.

Peter S. Goodman is the Global Economics Correspondent at the New York Times. He is a two-time winner of the Gerald Loeb Award for Distinguished Business and Financial Journalism. His new book Davos Man: How the Billionaires Devoured the World is available now.

Twitter: @petersgoodman

Further reading:

Davos Man: How the Billionaires Devoured the World

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The economics of abortion (with Caitlin Myers) Feb 22, 2022

We often discuss abortion as an issue of bodily autonomy, personal rights, and reproductive justice. Of course it’s all of those things, but it’s also an economic issue. Access (or lack thereof) to an abortion profoundly affects women’s lives by determining if, when, and under what circumstances they become mothers. Whether or not women have access to abortion can change the direction of their lives, affecting educational attainment, labor force participation, and overall earnings. Economist Caitlin Myers breaks down her research into the subject and provides examples of the causal link between abortion access and economic outcomes in women’s lives.

Caitlin Knowles Myers is the John G. McCullough professor of economics at Middlebury College and Co-Director of the Middlebury Initiative for Data and Digital Methods. She’s known for her recent research on the impact of contraception and abortion policies in the United States.

Twitter: @Caitlin_K_Myers

Opinion: Economists can tell you that restricting abortion access restricts women’s lives https://www.washingtonpost.com/opinions/2021/11/29/abortion-economics-supreme-court

Lack of abortion access will set US women back, economists warn https://www.ft.com/content/61251b31-0041-461c-bd33-aacf2f13fe10

What can economic research tell us about the effect of abortion access on women’s lives? https://www.brookings.edu/research/what-can-economic-research-tell-us-about-the-effect-of-abortion-access-on-womens-lives

The economic reality behind a Mississippi anti-abortion argument https://www.nytimes.com/2021/12/02/business/mississippi-abortion-law-economy.html

The Economic Consequences of Being Denied an Abortionhttps://www.nber.org/papers/w26662

The Turnaway Study https://www.ansirh.org/research/ongoing/turnaway-study

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Feb 15, 2022

Nick and Goldy answer your questions! How is any form of union busting legal? Why can’t America be more like the Nordic countries? Is taxing unrealized capital gains a good idea? And more!

Thanks to Brad from Pennsylvania, Larry from Boston, Julie from Arizona, Duncan from California, Zach from Minnesota, and Dave from Illinois who left the great voicemails included in this episode. If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334.

Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics

Further reading:

The Velocity of Money https://pitchforkeconomics.com/episode/the-velocity-of-money-with-ann-pettifor

Two new studies published about the Seattle minimum wage ordinance https://www.washington.edu/news/2019/02/06/two-new-studies-published-about-the-seattle-minimum-wage-ordinance

U.S. employers are charged with violating federal law in 41.5% of all union election campaigns https://www.epi.org/publication/unlawful-employer-opposition-to-union-election-campaigns

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Debunking deficit myths (with Stephanie Kelton) Feb 08, 2022

Modern Monetary Theory is an attempt to accurately describe how government debt and complex financial systems actually work and it can help us responsibly use our resources. No one is more knowledgeable on the subject than returning guest, Professor Stephanie Kelton. On this episode, originally released in 2020, Kelton explains the myths surrounding MMT and what a new understanding of the budget could do for our economy.

Stephanie Kelton is a Professor of Economics and Public Policy at Stony Brook University. She is the leading expert on Modern Monetary Theory. Her book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of flawed deficit thinking.

Twitter: @StephanieKelton

The Deficit Myth: https://www.indiebound.org/book/9781541736184

Learn To Love Trillion-Dollar Deficits: https://www.nytimes.com/2020/06/09/opinion/us-deficit-coronavirus.html

https://www.politico.com/newsletters/california-playbook/2022/01/12/calcare-begins-its-long-crawl-to-passage-495692

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The economic case for universal health care (with CA Assemblymember Ash Kalra) Feb 01, 2022

The United States spends far more on healthcare costs than other industrialized countries, yet we continue to have wider gaps of coverage and report worse health outcomes. California Assemblymember Ash Kalra is paving the way for a better system in his state through the California Guaranteed Health Care for All Act, which at the time of recording had been advancing through the state legislature for nearly a year. The night before this episode posted, the Bill died in the Assembly — but Assemblymember Kalra's thoughts on how a state-based single payer system would work, the hurdles it faces, and how such a program could become the blueprint for national health care reform can still inspire future lawmakers and activists to find new paths forward for health care in America.

Ash Kalra represents California’s 27th District. In 2016 he became the first Indian American to serve in the California Legislature in state history and was re-elected to his third term in 2020.

Twitter: @Ash_Kalra

Single-payer healthcare proposal fizzles in California Assembly: https://www.latimes.com/california/story/2022-01-31/single-payer-healthcare-proposal-fizzles-in-california-assembly

Assemblymember Ash Kalra, Author of AB 1400 CA Guaranteed Health Care for All Act, Releases Statement: https://a27.asmdc.org/press-releases/20220131-assemblymember-ash-kalra-author-ab-1400-ca-guaranteed-health-care-all-act

Universal health care bill advances in California Assembly: https://www.kpbs.org/news/local/2022/01/12/universal-health-care-bill-advances-california-assembly

‘CalCare’ begins its long crawl to passage:

California Democrats Revive Universal Health Care Bill, Paid For By Tax Increase:

https://sanfrancisco.cbslocal.com/2022/01/06/universal-health-bill-california-democrats-tax-increase/

Fundamental health reform like ‘Medicare for All’ would help the labor market:

https://www.epi.org/publication/medicare-for-all-would-help-the-labor-market/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why privatizing public goods is bad for democracy (with Donald Cohen) Jan 25, 2022

Even in the middle of a pandemic, trickle-down politicians still love to claim that the free market is the best way to resolve human problems and that the government can't be trusted to serve the public good. But when we privatize public health, utilities, and other shared necessities, we hand over control of those public goods—the things that we all need and that we need everyone to have— to for-profit entities that don’t answer to the public. Donald Cohen, an expert on privatization, shares examples and talks about the consequences of privatization in America.

Donald Cohen is the founder and executive director of In The Public Interest, a national resource and policy center on privatization and responsible contracting. He's also co-author of the new book The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back.

Twitter: @donaldrcohen12

The Privatization of Everything: https://bookshop.org/books/the-privatization-of-everything-how-the-plunder-of-public-goods-transformed-america-and-how-we-can-fight-back/9781620976531

Why Privatization is Worse Than You Know: https://publicseminar.org/2022/01/why-privatization-is-worse-than-you-know/

Opinion: The pandemic proved that privatization can’t provide enough public goods—like vaccines, education, justice, and a sustainable planet: https://www.marketwatch.com/story/the-pandemic-proved-that-privatization-cant-provide-enough-public-goodslike-vaccines-education-justice-and-a-sustainable-planet-11640027547

The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back: https://nextbigideaclub.com/magazine/privatization-everything-plunder-public-goods-transformed-america-can-fight-back-bookbite/31594/

A Conversation With Donald Cohen, Author of ‘The Privatization of Everything’: https://capitalandmain.com/a-conversation-with-donald-cohen-author-of-the-privatization-of-everything

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s Twitter: @NickHanauer

Ending the tipped minimum wage (with Saru Jayaraman) Jan 18, 2022

In most states, tipped workers are not subject to the minimum wage. Why? Because it’s legal to pay tipped workers a subminimum wage as low as the federal minimum of $2.13 per hour. As long as any worker in the country can be paid less than the minimum wage, the minimum wage is meaningless. Saru Jayaraman, a leader in the national fight for one fair wage, lays out the path forward.

Saru Jayaraman is the President of One Fair Wage, an organization that fights to raise wages and working conditions for all tipped and service workers She is also the Director of the UC Berkeley Food Labor Research Center and the author of One Fair Wage: Ending Subminimum Pay in America.

Twitter: @SaruJayaraman

New Year to bring higher minimum wages in record number of states and cities: https://www.cbsnews.com/news/higher-minimum-wages-2022-in-record-number-of-states/?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiospm&stream=top

Arkansas waitress fired after $4,400 tip shows why tipping at restaurants has to stop: https://www.nbcnews.com/think/opinion/arkansas-waitress-fired-after-4-400-tip-shows-why-tipping-ncna1286076

When the minimum wage isn’t enough: https://commonwealthmagazine.org/economy/when-the-minimum-wage-isnt-enough/

Seven facts about tipped workers and the tipped minimum wage: https://www.epi.org/blog/seven-facts-about-tipped-workers-and-the-tipped-minimum-wage/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Did the Federal Reserve’s policies make inequality worse? (with Christopher Leonard) Jan 11, 2022

When the Federal Reserve makes money, where does it go? Turns out, the Fed’s hands are tied—it can’t do anything other than assume that the new money will trickle down into the hands of ordinary Americans through Wall Street’s coffers. And according to journalist Christopher Leonard, that’s put the United States’ economic stability at risk and accelerated income inequality.

Christopher Leonard is a business reporter and executive director of the Watchdog Writers Group at the University of Missouri School of Journalism. He is the author of Kochland: The Secret History of the Koch Industries and Corporate Power in America. His new book is The Lords of Easy Money: How the Federal Reserve Broke the American Economy.

Twitter: @CLeonardNews

The Lords of Easy Money: https://bookshop.org/books/the-lords-of-easy-money-how-the-federal-reserve-broke-the-american-economy/9781982166632

How Nov. 2, 2010 Made the Rich So Much Richer: https://time.com/6112931/federal-reserve-wealth-inequality-recession/

The Fed’s Doomsday Prophet Has a Dire Warning About Where We’re Headed: https://www.politico.com/news/magazine/2021/12/28/inflation-interest-rates-thomas-hoenig-federal-reserve-526177

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the radical right weaponized ideology (with Nancy MacLean) Jan 04, 2022

If it seems to you like the ultimate goal of the most extreme conservatives is to undermine democracy and cripple democratic institutions—well, according to historian Nancy MacLean, you’re right. This week, MacLean unpacks the meteoric rise in popularity of the radical right’s ideas, and offers a way forward for progressives, based on lessons from successful social movements throughout American history. This episode was originally released in July 2020.

Nancy MacLean is an award-winning scholar of the twentieth-century U.S. and the William H. Chafe Distinguished Professor of History and Public Policy at Duke University. Her book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America, was a New York Times bestseller and finalist for the National Book Award, and The Nation magazine named it the “Most Valuable Book” of the year.

Twitter: @NancyMacLean5

Democracy in Chains: https://www.indiebound.org/book/9781101980965

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How opportunity zones create windfalls for the uber-rich (with David Wessel) Dec 28, 2021

The 2017 Tax Cuts & Jobs Act included a little-known provision establishing something called opportunity zones. The plan, which was lauded as a way to direct investments into under-developed communities in the U.S., created 8,764 tax havens that were almost immediately exploited by the wealthy to gobble up capital gains tax breaks. Pulitzer Prize-winning journalist David Wessel explains how opportunity zones came to be, who is profiting off of them, and why it’s so difficult to tweak the tax code without creating windfalls for the rich.

David Wessel is a senior fellow in Economic Studies at Brookings and director of the Hutchins Center on Fiscal and Monetary Policy. He is the author of two New York Times bestsellers: “In Fed We Trust: Ben Bernanke’s War on the Great Panic” (2009) and “Red Ink: Inside the High Stakes Politics of the Federal Budget” (2012). His most recent book is “Only the Rich Can Play: How Washington Works in the New Gilded Age” (2021). He has shared two Pulitzer Prizes, one in 1984 for a Boston Globe series on the persistence of racism in Boston and the other in 2003 for Wall Street Journal stories on corporate scandals.

Twitter: @davidmwessel

The Rich Have Found Another Way to Pay Less Tax: https://www.nytimes.com/2021/10/10/opinion/opportunity-zones-tax-loopholes.html?referringSource=articleShare

Only the Rich Can Play: https://bookshop.org/books/only-the-rich-can-play-how-washington-works-in-the-new-gilded-age/9781541757196

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Are you in the 9.9 percent? (with Matthew Stewart) Dec 21, 2021

In the U.S., inequality is often framed as the 99% versus the wealthiest 1%. But that’s not quite the right matchup. While the bottom 90% has done dramatically worse over the last several decades and the top 0.1% has done dramatically better, the 9.9% in between those groups still controls more than half of the wealth in the United States. Author and philosopher Matthew Stewart thinks that the 9.9% are not innocent bystanders, and he joins Nick and Goldy to discuss how this group is entrenching inequality and warping our culture.

Matthew Stewart is an author and philosopher. He is the author, among other books, of Nature’s God and The 9.9 Percent.

The 9.9 Percent: https://bookshop.org/books/the-9-9-percent-the-new-aristocracy-that-is-entrenching-inequality-and-warping-our-culture/9781982114183

The 9.9 percent is the new American aristocracy: https://www.theatlantic.com/magazine/archive/2018/06/the-birth-of-a-new-american-aristocracy/559130/

Who are the 9.9% A closer look at the math of American inequality: https://lithub.com/who-are-the-9-9-percent-a-closer-look-at-the-math-of-american-inequality/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Moving beyond racial liberalism (with Kyle Strickland) Dec 14, 2021

How can we center the role of race in our economic policy and in our politics in a way that will drive real change? Kyle Strickland, the deputy director of race and democracy at the Roosevelt Institute, explains how our leaders have fallen under the sway of racial liberalism, which focuses solely on disavowing personal bigotry and overt discrimination. In order to realize true racial and economic justice, he argues we should move beyond racial liberalism and toward a greater understanding of the systemic injustices built into our political and economic systems.

Kyle Strickland is the Deputy Director of Race and Democracy at the Roosevelt Institute. He is also the Senior Legal Analyst at the Kirwan Institute for the Study of Race & Ethnicity and the Director of My Brother’s Keeper Ohio.

Twitter: @kstrickland_

A New Paradigm for Justice and Democracy: https://rooseveltinstitute.org/wp-content/uploads/2021/11/RI_A-New-Paradigm-for-Justice-and-Democracy_Report_202111-1.pdf

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The hidden costs of banking while poor (with Mehrsa Baradaran and Cate Blackford) Dec 07, 2021

The average family earning $25,000 a year in the U.S. spends about $2,400 on financial transactions. Whether it’s the astronomical interest rates of a payday loan or the costs that come with being unbanked, the extractive practices of the financial services industry are effectively keeping the poor in poverty. Lawyer and author Mehrsa Baradaran and economic mobility expert Cate Blackford join Nick and Steph this week to explain why banking while poor is so expensive, and what states can do to rein in the people who profit from it. This episode was originally released in February 2020.

Mehrsa Baradaran is a professor of law at UC Irvine. She writes about banking law, financial inclusion, inequality, and the racial wealth gap. Her scholarship includes the books How the Other Half Banks and The Color of Money: Black Banks and the Racial Wealth Gap.

Twitter: @MehrsaBaradaran

Cate Blackford was the Director of Outreach and Donor Development at the Bell Policy Center when we recorded this episode, but she is now the Public Policy Director at Maine People’s Alliance. She was the Co-Chair of the 2018 Proposition 111 campaign in CO to limit the interest lenders could charge on payday loans and eliminate fees from payday lending products, which passed with 75% of the vote.

Twitter: @catetiller

Further reading:

Capitol One to end overdraft penalties as CFPB takes aim at ‘exploitative junk fees’: https://www.washingtonpost.com/business/2021/12/01/capital-one-overdraft-fees/

How the Other Half Banks: https://www.hup.harvard.edu/catalog.php?isbn=9780674983960

The Color of Money: https://www.hup.harvard.edu/catalog.php?isbn=9780674237476

If the U.S. Government Treated Poor People as Well as It Treats Banks: https://www.theatlantic.com/business/archive/2015/10/if-the-us-government-treated-poor-people-as-well-as-it-treats-banks/410614/

CO’s Prop 111 explained: https://coloradosun.com/2018/10/22/proposition-111-colorado-2018-explained/

Briefed by the Bell - Predatory Economy: https://www.bellpolicy.org/2018/09/10/predatory-economy/

How Do Payday Loans Work? https://www.incharge.org/debt-relief/how-payday-loans-work/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Make the clean stuff cheap (with Eric Beinhocker & Doyne Farmer) Nov 30, 2021

Until very recently, the prevailing wisdom cautioned that transitioning to a clean energy economy would be extremely expensive, and therefore only possible if undertaken slowly. New research upends that thinking—when it comes to going green, the faster we go, the cheaper it will be. University of Oxford professors Eric Beinhocker and Doyne Farmer talk with Nick about a new strategy for clean technology that could transform the climate fight.

Eric Beinhocker is a Professor of Public Policy Practice at the Blavatnik School of Government and the Executive Director of the Institute for New Economic Thinking at the University of Oxford’s Martin School. He is also a Supernumerary Fellow in Economics at Oriel College, and External Professor at the Santa Fe Institute.

Twitter: @EricBeinhocker

Doyne Farmer is Director of the Complexity Economics program at the Institute for New Economic Thinking. He is Baillie Gifford Professor in the Mathematical Institute at the University of Oxford and an External Professor at the Santa Fe Institute.

Website: http://www.doynefarmer.com/

Going big and fast on renewables could save trillions in energy costs: https://www.washingtonpost.com/business/energy/going-big-and-fast-on-renewables-would-save-trillions-in-energy-costs/

A new strategy for climate: make the clean stuff cheap - https://democracyjournal.org/arguments/a-new-strategy-for-climate-make-the-clean-stuff-cheap/

Skid Road: https://bookshop.org/books/skid-road-on-the-frontier-of-health-and-homelessness-in-an-american-city/9781421440132

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why can’t we talk about homelessness? (with Josephine Ensign) Nov 23, 2021

The number of unhoused Americans is at a historically high rate right now. This podcast is produced in Seattle, a city with the third highest homeless population in the U.S. Though many Seattleites identify as progressive, we can’t reach a consensus on how to help our most vulnerable populations—or even find agreement on the root causes of the housing crisis. Why are perspectives on homelessness, and possible solutions to it, so polarized? Josephine Ensign, a University of Washington nurse and health care provider for people experiencing homelessness, shares some of her insights from her career on the frontlines of this crisis.

Josephine Ensign is a professor in the School of Nursing and an adjunct professor in the Department of Gender, Women & Sexuality Studies at the University of Washington. Her most recent book is Skid Road: On the Frontier of Health and Homelessness in an American City.

Twitter: @josephineensign

Homelessness Rises Faster Where Rent Exceeds a Third of Income: https://www.zillow.com/research/homelessness-rent-affordability-22247/

WA Department of Commerce: http://www.commerce.wa.gov/wp-content/uploads/2017/01/hau-why-homelessness-increase-2017.pdf

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How taxpayers subsidize corporate profits (with Rana Foroohar and David Dayen) Nov 16, 2021

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies. David Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it. This episode was originally recorded and released in January 2020.

Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us.

Twitter: @RanaForoohar

David Dayen is the executive editor of The American Prospect. He is the author of Monopolized: Life in the Age of Corporate Power and Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud.

Twitter: @ddayen

Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/

Makers and Takers: https://www.ranaforoohar.com/makersandtakers

How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the tax system impoverishes Black Americans (with Dorothy A. Brown) Nov 09, 2021

We know that the tax system is set up to advantage people with money. And we know that in the U.S., people with money are disproportionately white. But what many people don’t realize is that the tax system actively advantages white families. Tax law professor Dorothy Brown explains how racial inequality is baked into tax policy in non-obvious ways, and how that affects wealth-building.

Dorothy A. Brown is professor of law at Emory University School of Law. She is a nationally recognized scholar in tax policy, race, and class and has published extensively on the racial implications of federal tax policy. She is the author of The Whiteness of Wealth: How the Tax System Impoverishes Black Americans — And How We Can Fix It.

Twitter: @DorothyABrown

The Whiteness of Wealth: https://bookshop.org/books/the-whiteness-of-wealth-how-the-tax-system-impoverishes-black-americans-and-how-we-can-fix-it/9780525577324

Black families pay significantly higher property taxes than white families, new analysis shows: https://www.washingtonpost.com/business/2020/07/02/black-property-tax/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The free market economics of synthetic opioids (with Sam Quinones) Nov 02, 2021

The opioid crisis in the United States is a textbook example of free market economics. The powerful lie, manipulate, and skirt regulations to make buckets of money, while innocent people suffer. Journalist Sam Quinones joins Goldy and Paul to unpack the economics behind the opioid crisis, and the new threat of synthetic opioids like fentanyl.

Sam Quinones is a journalist best known for his reporting in Mexico and on Mexicans in the United States. He is the author of the award-winning Dreamland: The True Tale of America’s Opiate Epidemic. His new book, The Least of Us: True Tales of America and Hope in the Time of Fentanyl and Meth, is out today.

Twitter: @samquinones7

The Least of Us: https://bookshop.org/books/the-least-of-us-true-tales-of-america-and-hope-in-the-time-of-fentanyl-and-meth/9781635574357

What did the Sacklers know? https://newrepublic.com/article/162148/sacklers-know-patrick-radden-keefe-purdue-opioid-crisis-review

The 'Secret History' Of The Sackler Family & The Opioid Crisis: https://www.npr.org/2021/04/14/987195464/the-secret-history-of-the-sackler-family-the-opioid-crisis

State-Level Economic Costs of Opioid Use Disorder and Fatal Opioid Overdose: https://www.cdc.gov/mmwr/volumes/70/wr/mm7015a1.htm

Massive Costs of the US Opioid Epidemic in Lives and Dollars: https://jamanetwork.com/journals/jama/article-abstract/2780313

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How to stand up for voting rights (with Andrea Hailey) Oct 26, 2021

Behind every aspect of the voting system that makes it harder to vote, there’s a policy that made it that way. Andrea Hailey, the CEO of Vote.org, joins Nick and Goldy to explain how voter suppression happens, and what reforms would help ensure a truly inclusive democracy.

Andrea Hailey is the CEO of Vote.org, the nation’s largest nonpartisan digital voter engagement organization.

Twitter: @AndreaEHailey

Vote.org: https://www.vote.org/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Thanks to unemployment insurance, poverty declined last year (with Amy Goldstein and Elliott Morris) Oct 19, 2021

It’s been a little over a month since the unemployment benefits programs that were established by the CARES Act expired, so we’re taking a look at how well they worked. Washington Post writer Amy Goldstein and Elliott Morris, a data journalist at The Economist, deliver the facts to Jessyn and Paul.

Amy Goldstein is a staff writer at The Washington Post, where much of her work has focused on social policy. She is the author of Janesville: An American Story.

Twitter: @goldsteinamy

Elliott Morris is a data journalist at The Economist.

Twitter: @gelliottmorris

Further reading:

Poverty fell overall in 2020 as result of massive stimulus checks and unemployment aid, Census Bureau says: https://www.washingtonpost.com/business/2021/09/14/us-census-poverty-health-insurance-2020/

Welfare rolls decline during the pandemic despite economic upheaval: https://www.washingtonpost.com/health/2021/08/01/welfare-roles-during-the-pandemic/

Why now is the time to fix the UI system: https://www.epi.org/publication/introduction-why-now-is-the-time-to-fix-the-ui-system/

The racial disparity in unemployment benefits: https://www.rand.org/blog/2020/07/the-racial-disparity-in-unemployment-benefits.html

Unpacking Inequities in Unemployment Insurance: https://www.newamerica.org/pit/reports/unpacking-inequities-unemployment-insurance/introduction/

Ending pandemic unemployment aid has not yielded extra jobs—yet: https://www.economist.com/finance-and-economics/2021/08/28/ending-pandemic-unemployment-aid-has-not-yielded-extra-jobs-yet

Janesville: An American Story: https://bookshop.org/books/janesville-an-american-story-9781508283966/9781501102264

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How corporate concentration hurts the economy (with Stacy Mitchell) Oct 12, 2021

Anti-monopoly and pro-local advocate Stacy Mitchell joins the show to talk about small business, big business, and decentralizing economic power.

Stacy Mitchell is the co-director of the Institute for Local Self-Reliance. She directs ILSR’s Independent Business Initiative, which produces research and analysis and partners with a broad range of allies to design and implement policies to reverse corporate concentration and strengthen local enterprise.

Twitter: @stacyfmitchell

Further reading:

Small Business Rising: https://www.smallbusinessrising.net/

Institute for Local Self-Reliance: https://ilsr.org/

Senate Testimony: Concentration is at the Root of Rural Distress: https://ilsr.org/stacy-mitchells-senate-testimony-on-state-of-rural-economy/

As Amazon rises, so does the opposition: https://www.nytimes.com/2020/04/18/technology/athena-mitchell-amazon.html

Why the left should ally with small business: https://www.thenation.com/article/society/democrats-labor-business-monopoly/

Report: Amazon’s stranglehold: How the company’s tightening grip on the economy is stifling competition, eroding jobs, and threatening communities: https://ilsr.org/amazon-stranglehold/

Don’t let Amazon get any bigger: https://www.nytimes.com/2020/10/08/opinion/amazon-antitrust.html

Amazon doesn’t just want to dominate the market - it wants to become the market: https://www.thenation.com/article/archive/amazon-doesnt-just-want-to-dominate-the-market-it-wants-to-become-the-market/

The rise and fall of the word ‘monopoly’ in American life: https://www.theatlantic.com/business/archive/2017/06/word-monopoly-antitrust/530169/

Big box swindle: https://stacymitchell.com/front-page/

Voters want to curb the influence of big tech companies: https://www.wsj.com/articles/voters-want-to-curb-the-influence-of-big-tech-companies-new-poll-shows-11632405601

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why philanthropy isn’t the answer (with Anand Giridharadas) Oct 05, 2021

Few books have shaken the philanthropy world more than ‘Winners Take All’, Anand Giridharadas’s blistering critique of wealthy do-gooders. Global elites who ostentatiously give away hundreds of millions of dollars, he argues, are actually just preserving the status quo that grants them power in the first place. On this episode, originally recorded and released in October 2019, Anand joins Nick and Goldy to explain how do-gooding can perpetuate inequality.

Anand Giridharadas is a writer. His most recent book, ‘Winners Take All: The Elite Charade of Changing the World,’ is a national bestseller. He is an editor-at-large for TIME, an on-air political analyst for MSNBC, and a visiting scholar at the Arthur L. Carter Journalism Institute at New York University.

Twitter: @AnandWrites

Further reading:

Winners Take All: https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248

Beware Rich People Who Say They Want to Change the World: https://www.nytimes.com/2018/08/24/opinion/sunday/wealth-philanthropy-fake-change.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Redefining skill (with Nichola Lowe) Oct 01, 2021

Who are the winners and losers in our skill development system? How can we move the onus of skill further into the purview of employers and away from our education system? UNC Professor Nichola Lowe talks to Goldy about the future of “skill” as we know it in the economy, and what’s at stake if we get it wrong.

Nichola Lowe is a professor in City and Regional Planning at UNC-Chapel Hill. Her work focuses on the institutional arrangements that lead to more inclusive forms of urban and regional economic development.

Twitter: @lowe_nichola

Putting Skill to Work: How to Create Good Jobs in Uncertain Times: https://mitpress.mit.edu/books/putting-skill-work

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Capitalism is working better in Finland (with Anu Partanen and Trevor Corson) Sep 28, 2021

Contrary to popular belief, Nordic countries aren’t actually socialist! No, friends, the Nords are capitalists—but they pull it off much better than we do. To help re-imagine American capitalism, writers Anu Partanen and Trevor Corson join us this week all the way from Finland. This episode was originally recorded and posted in February 2020.

Anu Partanen is a journalist and the author of The Nordic Theory of Everything. The book debunks some of the most common myths about Nordic societies and discusses what the United States might be able to borrow from aspects of Nordic success in the twenty-first century. She has written for The New York Times and The Atlantic.

Twitter: @anupartanen

Trevor Corson is an award-winning author and editor. His articles and essays have appeared in The New York Times, The Wall Street Journal, The Atlantic, and many more.

Twitter: @TrevorCorson

Further reading:

The Nordic Theory of Everything: https://www.indiebound.org/book/9780062316547

Finland Is a Capitalist Paradise: https://www.nytimes.com/2019/12/07/opinion/sunday/finland-socialism-capitalism.html

What Americans Don’t Get About Nordic Countries: https://www.theatlantic.com/politics/archive/2016/03/bernie-sanders-nordic-countries/473385/

Capitalism Redefined: https://democracyjournal.org/magazine/31/capitalism-redefined/

Safe, happy and free: does Finland have all the answers? https://www.theguardian.com/world/2018/feb/12/safe-happy-and-free-does-finland-have-all-the-answers

https://www.epi.org/publication/so-called-right-to-work-is-wrong-for-montana/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Right-to-work is bad for workers (with Shane Larson) Sep 24, 2021

Right-to-work laws, which make unionizing more difficult in 28 states, could more accurately be referred to as right-to-work… for less. Why? On average, worker pay drops 3.1% when right-to-work laws are passed. Shane Larson from CWA, the largest communications and media labor union in the U.S., joins Goldy to explain why right-to-work laws are so harmful, how they came to be, and why it’s so important to pass the PRO Act to fight for workers’ rights.

Shane Larson is the Senior Director for Government Affairs and Policy for the Communications Workers of America.

Twitter: @ShaneLarsonCWA @CWAUnion

https://aflcio.org/issues/right-work

https://www.washingtonpost.com/news/made-by-history/wp/2018/04/24/the-right-to-work-really-means-the-right-to-work-for-less/

https://prospect.org/takebackourparty/chapter-4-our-democratic-party/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How neoliberalism captured Democrats (with James Kwak) Sep 21, 2021

Democrats used to be known as the party of the working people—so how did they get so off track? Who took over the party, and why? Author and professor James Kwak joins Nick and Paul in a blistering analysis of the decline of the Democratic Party, and explains how we can get it back on track. This episode originally aired in January 2020.

News clips credit: C-SPAN, ProfGP, CNN

James Kwak is a professor at the UConn School of Law and the chair of the board of the Southern Center for Human Rights. He is the author or co-author of 13 Bankers, White House Burning, and Economism. His latest book, Take Back Our Party: Restoring the Democratic Legacy, is available for free online at The American Prospect.

Twitter: @jamesykwak

Read Take Back Our Party on The American Prospect:

Introduction - Restoring the Democratic Legacy: https://prospect.org/politics/take-back-our-party-restoring-the-democratic-legacy/

Chapter 1 - Their Democratic Party: https://prospect.org/takebackourparty/chapter-1-their-democratic-party/

Chapter 2 - Bad Policy: https://prospect.org/takebackourparty/chapter-2-bad-policy/

Chapter 3 - Bad Politics: https://prospect.org/takebackourparty/chapter-3-bad-politics/

Chapter 4 - Our Democratic Party:

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why restaurants can’t find workers (with restaurateur Mark Bucher) Sep 17, 2021

DC restaurateur Mark Bucher explains what’s behind the “labor” shortage (hint: it’s the wages), the role that restaurant owners need to play in stopping the “churn and burn” model of low-wage workers, and the future of the restaurant industry post-Covid.

Mark Bucher is the co-owner of Medium Rare, a decade-old steakhouse with three locations in D.C., Arlington, and Bethesda. During the pandemic, he established “Feed the Fridge”, a project that places refrigerators around the DC metro area and pays local restaurants to fill them with fresh meals daily.

Twitter: @MediumRareDC

DC restaurateur: There’s no staffing crisis. There’s a wage crisis. https://wtop.com/business-finance/2021/07/dc-restauranteur-theres-no-staffing-crisis-theres-a-wage-crisis/

Feed the Fridge: https://feedthefridge.org/

Minimum wage hike boosts customer experience: https://news.cornell.edu/stories/2021/08/minimum-wage-hike-boosts-customer-experience

Restaurant industry unharmed by modest minimum wage hikes: https://news.cornell.edu/stories/2016/01/restaurant-industry-unharmed-modest-minimum-wage-hikes

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What convinces people to act in the interest of others? (with Margaret Levi) Sep 14, 2021

What does it take for someone to act in the interest of others? What constitutes trust in general, and trust in government in particular? Margaret Levi, a professor of political and behavioral sciences, shares her research on how people can be persuaded to act in the interest of others if they don’t already want to. The conversation covers vaccines, unions, citizen confidence in government, and a lot more.

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Margaret Levi is the Sara Miller McCune Director of the Center for Advanced Study in the Behavioral Sciences (CASBS), Professor of Political Science, and Senior Fellow of the Woods Institute, Stanford University. She is Jere L. Bacharach Professor Emerita of International Studies in the Department of Political Science at the University of Washington. One of her most recent books, In the Interest of Others (Princeton, 2013), co-authored with John Ahlquist, explores how organizations provoke member willingness to act beyond material interest. In other work, she investigates the conditions under which people come to believe their governments are legitimate and the consequences of those beliefs for compliance, consent, and the rule of law.

Twitter: @margaretlevi

Margaret Levi: Citizen confidence in government - https://www.youtube.com/watch?v=YBbq7izCslU&ab_channel=WZBlive

In the Interest of Others: https://press.princeton.edu/books/hardcover/9780691158563/in-the-interest-of-others

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Covid shook the world’s economy (with Adam Tooze) Sep 07, 2021

There have been far more lethal pandemics than Covid-19, but the scale of our response to Covid-19 is dramatically new. For the first time in human history, our civilization made a collective decision to shut much of the world economy down. Contemporary historian Adam Tooze helps us understand what happened, why it happened, and how we can learn from it.

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Adam Tooze holds the Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European Institute. In 2019, Foreign Policy Magazine named him one of the top Global Thinkers of the decade. His most recent book, Shutdown: How Covid Shook the World’s Economy, is out now.

Twitter: @adam_tooze

Shutdown: How Covid Shook the World’s Economy: https://bookshop.org/books/shutdown-how-covid-shook-the-world-s-economy/9780593297551

Check out the Unf*cking The Republic podcast at https://www.unftr.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why is getting out of poverty so hard? (with Felicia Wong) Aug 31, 2021

Roosevelt Institute President Felicia Wong and writer Hanna Brooks Olsen join Nick and Goldy to explore how the intense burdens of poverty make it nearly impossible to even think about climbing the economic ladder. This episode was originally recorded and released in 2019.

Sign up for our new weekly newsletter, The Pitch: https://civicventures.substack.com/

Felicia Wong is the President and CEO of the Roosevelt Institute.

Twitter: @FeliciaWongRI @rooseveltinst

Hanna Brooks Olsen is a writer and the co-host of Spotless, a podcast about cleaning.

Twitter: @mshannabrooks

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why is the child tax credit good economic policy? (with Wendy Bach) Aug 24, 2021

Everything you need to know about what the expanded child tax credit actually is, why it’s good policy, and how it will impact people’s lives.

Wendy Bach is a Professor of Law at the University of Tennessee, Knoxville. She is a nationally recognized expert in poverty law.

Twitter: @wendyabach

Biden’s child tax credit is a step away from a discriminatory system: https://qz.com/2034199/how-does-the-us-child-tax-credit-work/

Two-thirds of people now receive monthly benefit checks: https://www.peoplespolicyproject.org/2021/07/19/two-thirds-of-people-now-receive-monthly-benefit-checks/

The time tax: https://www.theatlantic.com/politics/archive/2021/07/how-government-learned-waste-your-time-tax/619568/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How the credit market drives up housing prices (with Redfin CEO Glenn Kelman) Aug 17, 2021

What’s the next generation of access to credit? Why are home prices and rents so out-of-whack with each other? And how can we approach the discord between what liberals say they want for their community versus what housing and development policies they’ll actually support? Glenn Kelman, the CEO of real estate brokerage website Redfin, helps us examine the future of housing and the best ways that companies like his can contribute to solving the housing crisis.

And if you’re wondering why this episode sounds so good, or why nobody mentions the pandemic… it’s because this conversation is from our archives of interviews that we recorded in-studio, just before the pandemic hit. But don’t let that discourage you—this is still just as relevant today as the day it was recorded. Enjoy!

Glenn Kelman is the CEO of Redfin.

Twitter: @glennkelman

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything, continued! Aug 10, 2021

Is inflation bad? What’s the difference between a neoliberal and a conservative? If large corporations were held to higher labor standards than small employers, wouldn’t Walmart get all the talent? And more!

Thanks to Mark from Nashville, David from Japan, Mike from Dallas-Fort Worth, Mary from Pennsylvania, Steve from Austin, and Pete from Boston, who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Everything you need to know about the Frito-Lay Strike (with KS Rep Jason Probst) Aug 03, 2021

Workers at a Frito-Lay factory in Topeka, Kansas made national headlines when they went on strike to protest dismal labor conditions including forced overtime and 84-hour workweeks. (Frito-Lay's parent company, PepsiCo, made $10.5 billion in profit last year.) The strike ended after 19 days on July 26th, but it’s an important part of a national conversation about labor and corporate profits. Kansas state Representative Jason Probst joins the show to explain the details of the strike and how these insidious labor practices affect his state’s economy.

Jason Probst serves in the Kansas House of Representatives.

Twitter: @thatguyinhutch

Substack: https://thatguyinhutch.substack.com/

Kansas Frito-Lay workers end strike: https://www.washingtonpost.com/business/2021/07/26/frito-lay-strike-topeka/

Striking information - what PepsiCo’s annual report tells us about the Frito Lay strike: https://thatguyinhutch.substack.com/p/striking-information

The Backbreaking Work That Goes Into a Bag of Chips: https://nymag.com/intelligencer/2021/07/frito-lay-workers-on-their-strike.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Jul 27, 2021

Nick and Goldy answer your questions! If we had progressive taxation, would we still need means testing? Can we send ultra-rich people away to their own economy? What are the best economic indicators for the progressive economy? And more!

Thanks to Lisa from Indianapolis, Rick from Baltimore, Jacob from Portland, Sean from Philadelphia, Linda from Seaside, and Frank from Georgia who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Fiscal policy can help save the environment (with Sarah Bloom Raskin) Jul 20, 2021

Can we create transformative climate outcomes by adopting new regulatory strategies? Financial regulation expert Sarah Bloom Raskin helps us explore what levers exist to steer fiscal and monetary policy toward lasting sustainability.

Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She served as the Commissioner of Financial Regulation for the State of Maryland from 2007 to 2010. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee, which recommends changes in fiscal, monetary, and financial regulatory policies that are likely to enable the U.S. to achieve net carbon neutrality before 2050.

Twitter: @SBloomRaskin

Learn more about the Regenerative Crisis Response Committee here: https://regenerativecrisisresponsecommittee.org/

Does environmental regulation kill or create jobs? https://policyintegrity.org/files/media/Jobs_and_Regulation_Factsheet.pdf

Do regulations really kill jobs? https://www.theatlantic.com/business/archive/2017/01/regulations-jobs/513563/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why billionaires are paying no taxes (LIVE from CAP) Jul 13, 2021

Our friends at the Center for American Progress put on a great virtual event last week with Senator Sherrod Brown, discussing how the U.S. tax codes favors the wealthy and the tools Congress plans to use to rebalance the tax system.

Twitter: @amprog

You can watch video of the event here: https://www.americanprogress.org/events/2021/06/21/500822/billionaires-paying-no-taxes/

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

We all do better when we all do better (with JP Julien) Jul 06, 2021

Contrary to fears that economic inclusion must come at the expense of economic growth, global management consulting firm McKinsey & Company's research and empirical evidence supports the idea that economic growth is at its best when it is most inclusive – but that equity needs to be embedded in systems from the start in order to be effective. What does ‘inclusion’ mean in the context of an economy that works for everyone? McKinsey's JP Julien explains how policymakers and companies can ensure that economic growth goes hand-in-hand with – and is enhanced by – reducing inequality.

JP Julien is an Associate Partner at McKinsey & Company, where he serves US federal, state, and city governments on inclusive economic-development topics and supports private-, public-, and social-sector organizations in advancing racial equity. He is a leader of the McKinsey Institute for Black Economic Mobility, a global economic think tank focused on inclusive economic development and racial equity topics.

Twitter: @McKinsey

The case for inclusive growth: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-case-for-inclusive-growth

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Summer Reading List! Jun 29, 2021

It’s Nick and Goldy’s summer reading list!

We want to know what you’re reading, too. Let us know on Instagram: @pitchforkeconomics.

Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available at your library.

Every book mentioned in this episode:

The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous by Joseph Henrich

Escape from Rome: The Failure of Empire and the Road to Prosperity by Walter Scheidel

The Tyranny of Merit: What’s Become of the Common Good? by Michael J. Sandel

Success and Luck: Good Fortune and the Myth of Merit by Robert H. Frank

The Black Swan and Fooled by Randomness by Nassim Nicholas Taleb

Democracy, Race, and Justice: The Speeches and Writings of Sadie T. M. Alexander by Nina Banks

Why Buddhism is True by Robert Wright

Caste by Isabel Wilkerson

His Truth Is Marching On: John Lewis and the Power of Hope by Jon Meacham

The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together by Heather McGhee

1491 by Charles C. Mann

Nature’s God: The Heretical Origins of the American Republic by Matthew Stewart

The Second World War by Winston Churchill

Lafayette in the Somewhat United States by Sarah Vowell

Debt by David Graeber

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Post-pandemic booms (with Callum Williams) Jun 22, 2021

Callum Williams from The Economist predicts what we can expect from the economy in the coming months based on past periods of massive non-financial disruption, including past pandemics and major world wars.

Callum Williams is a senior economics writer at The Economist.

Twitter: @econcallum

What history tells you about post-pandemic booms: https://www.economist.com/finance-and-economics/2021/04/29/what-history-tells-you-about-post-pandemic-booms

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Chipotle CEO Brian Niccol is a trickle-down clown Jun 15, 2021

You probably saw the news that Chipotle is raising its menu prices by 4 percent, and that leadership is blaming the price increase on the fact that they had to raise their starting pay to $15 per hour. It’s not at all surprising to see a large employer like Chipotle blame rising wages for everything, but what was disappointing was the media’s willingness to repeat Chipotle’s story without looking deeper into the numbers: namely, none of the stories covering the price increases mentioned that Chipotle gave its CEO a $24 million raise last year, and that the company is in the middle of enacting a $153 million stock buyback program to enrich a handful of shareholders. Around here, that type of trick will land you the title of Trickle-Down Clown! This week Goldy has a few choice words to say about Chipotle’s behavior, and then we thought it would be a good time to revisit our stock buybacks episode with Senator Cory Booker for an explanation of the pervasiveness and dangers of the practice.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Inequality is bad for everyone (with Djaffar Shalchi) Jun 09, 2021

We’re back to our favorite topic this week—TAX THE RICH! Beyond all the benefits that come from a well-funded social safety net, taxing the wealthy would lessen inequality, which would make most people—including the extravagantly wealthy—happier. Super-rich Danish entrepreneur Djaffar Shalchi shares the wisdom that Denmark understands: Inequality is bad for everyone.

Djaffar Shalchi is an entrepreneur from Denmark and founder of Millionaires for Humanity, a network of wealthy people who advocate for raising taxes on wealthy people. He is also the founder and Executive Director of Move Humanity, a global initiative to mobilize at least one percent of the wealth of the world’s super-rich for the UN’s Sustainable Development Goals.

Twitter: @djaffarshalchi

OPINION: I’m a millionaire who wants to be taxed to pay for COVID-19: https://news.trust.org/item/20210329080742-gpnj6/

The American dream is now in Denmark: https://the.ink/p/the-american-dream-is-now-in-denmark

Dear Mr. Deutsch: Come to “F***ing Denmark.”: https://medium.com/@humanact/dear-donny-deutsch-come-to-f-ing-denmark-ea6995bb684d

Biden will seek tax increase on rich to fund child care and education: https://www.nytimes.com/2021/04/22/business/economy/biden-taxes.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How U.S. policy was designed to suppress wages (with Larry Mishel and Josh Bivens) Jun 01, 2021

Radical and rising economic inequality is no secret — and now, thanks to new research from the Economic Policy Institute, neither is its price tag nor its cause. There’s never been a study quite like this — one which places specific, real dollar amounts on every trickle-down policy American politicians have embraced. The study’s authors, Larry Mishel and Josh Bivens, explain how their work reveals that the massive upward redistribution of income our nation has suffered these past four decades can largely be attributed to policies intentionally designed to suppress the wages of American workers.

Lawrence Mishel is a distinguished fellow at EPI after serving as president from 2002-2017. In the more than three decades he has been with EPI, Mishel has helped build it into the nation’s premier research organization focused on U.S. living standards and labor markets.

Twitter: @LarryMishel

Josh Bivens is the director of research at EPI. His areas of research include macroeconomics, fiscal and monetary policy, the economics of globalization, social insurance, and public investment.

Twitter: @joshbivens_DC

Middle-class pay lost pace. Is Washington to blame? https://www.nytimes.com/2021/05/13/business/economy/middle-class-pay.html

Identifying the policy levers generating wage suppression and wage inequality: https://www.epi.org/unequalpower/publications/wage-suppression-inequality/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

It’s not a labor shortage, it’s a wage shortage (with Heidi Shierholz) May 25, 2021

You have no doubt seen the scary headlines warning of a “labor shortage” caused by the additional pandemic unemployment insurance payments. The coverage of this story is widespread, even though most economics reporters can find no credible evidence linking unemployment checks to a labor shortage. EPI economist Heidi Shierholz joins us to explain why UI and stimulus payments aren’t causing a “labor shortage”, and why the answer to this made-up problem is so clear: it’s the low wages, stupid.

Heidi Shierholz is the Senior Economist and Director of Policy at the Economic Policy Institute.

Twitter: @hshierholz

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Unemployment benefits are not creating a worker shortage: https://www.huffpost.com/entry/worker-shortage-unemployment-benefits_n_609056c3e4b09cce6c21a850

Is unemployment insurance behind the fast-food labor shortage? https://prospect.org/labor/is-unemployment-insurance-behind-fast-food-labor-shortage/

Restaurant labor shortages show little sign of going economywide: https://www.epi.org/blog/restaurant-labor-shortages-show-little-sign-of-going-economywide-policymakers-must-not-rein-in-stimulus-or-unemployment-benefits/

U.S. Labor Shortage? Unlikely. Here’s why: https://policydialogue.org/opinions/worker-shortages/

It’s not a ‘labor shortage’. It’s a great reassessment of work in America: https://www.washingtonpost.com/business/2021/05/07/jobs-report-labor-shortage-analysis/

The Myth of Labor Shortages: https://www.nytimes.com/2021/05/20/briefing/labor-shortages-covid-wages.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Your non-compete clause is probably illegal (with WA Attorney General Bob Ferguson) May 18, 2021

Non-compete clauses, and the lesser-known no-poach agreements between franchises, are shockingly common for low-wage workers. Although these contracts were originally intended to protect trade secrets among high-level executives, they have spiralled into an unfair labor practice that keeps wages low, limits employee mobility, and decreases competition. Washington state Attorney General Bob Ferguson explains how non-competes and no-poach agreements violate the law in many states, what his team did to get hundreds of huge employers across the country to cease and desist, and why you should tell your state’s Attorney General if you know of any low- or middle-income workers who are being forced into signing these agreements.

Bob Ferguson is Washington State’s 18th Attorney General. As the state’s chief legal officer, Bob is committed to protecting the people of Washington against powerful interests that don’t play by the rules.

Twitter: @BobFergusonAG

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Why aren’t paychecks growing? A burger-joint clause offers a clue: https://www.nytimes.com/2017/09/27/business/pay-growth-fast-food-hiring.html

Workers in Washington state win big under new non-compete law: https://www.emeryreddy.com/2019/09/workers-in-washington-state-win-big-under-new-non-compete-law/

Attorney General Bob Ferguson stops King County coffee shop’s practice requiring baristas to sign unfair non-compete agreements: https://www.atg.wa.gov/news/news-releases/attorney-general-bob-ferguson-stops-king-county-coffee-shop-s-practice-requiring

AG Report: Ferguson’s initiative ends no-poach practices nationally at 237 corporate franchise chains: https://www.atg.wa.gov/news/news-releases/ag-report-ferguson-s-initiative-ends-no-poach-practices-nationally-237-corporate

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why we need a mission-driven economy (with Mariana Mazzucato) May 11, 2021

What do the internet and COVID vaccines have in common? Neither would be possible without the work of DARPA, a mission-focused federal agency responsible for funding research and development. Professor Mariana Mazzucato is with us this week to argue that our economy will be better off if more government agencies adopt DARPA’s mission-oriented approach.

Mariana Mazzucato is a Professor in the Economics of Innovation and Public Value at University College London, where she is Founding Director of the UCL Institute for Innovation and Public Purpose. She is the author of three highly-acclaimed books: The Entrepreneurial State, The Value of Everything, and Mission Economy.

Twitter: @MazzucatoM

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Mission Economy: https://marianamazzucato.com/books/mission-economy

It’s 2023. Here’s how we fixed the global economy: https://time.com/collection/great-reset/5900739/fix-economy-by-2023/#new_tab

DARPA’s early investment in COVID-19 antibody identification producing timely results: https://www.darpa.mil/news-events/2020-11-10

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Is the economy at a turning point? (with Anusar Farooqui) May 04, 2021

Essayist Anusar Farooqui makes the case that we are witnessing the final break from neoliberalism in the United States.

Anusar Farooqui writes on Substack as Policy Tensor.

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The Making of the Mother of All Economic Booms: https://policytensor.substack.com/p/the-making-of-the-mother-of-all-economic

https://campaigntoendqualifiedimmunity.org/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Can businesses help repair society? (with Ben & Jerry) Apr 27, 2021

Can business leaders use their power and resources to make meaningful change? Should they? Ben Cohen and Jerry Greenfield, the founders behind iconic ice cream brand Ben & Jerry’s, help map the landscape between business and activism and introduce their new project, the Campaign to End Qualified Immunity.

Ben Cohen and Jerry Greenfield are the co-founders of Ben & Jerry’s Ice Cream. Most recently, they are the leaders of the Campaign to End Qualified Immunity, a new police reform and criminal justice campaign.

Ben’s twitter: @YoBenCohen

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

There’s no such thing as a race-neutral policy (with Valerie Wilson) Apr 20, 2021

EPI economist Valerie Wilson joins us for a conversation about the economic costs of racism, and which policies could help further racial equality.

Valerie Wilson is the Director of the Program on Race, Ethnicity, and the Economy at the Economic Policy Institute. Prior to joining EPI, she was an economist and vice president of research at the National Urban League Washington Bureau.

Twitter: @ValerieRWilson

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Racism and the Economy: https://www.epi.org/blog/racism-and-the-economy-fed/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Diving into March’s giant jobs report (with Austan Goolsbee) Apr 13, 2021

The latest monthly report from the Bureau of Labor Statistics showed massive gains in March—the strongest in seven months—indicating that economic growth is gaining speed. Economist Austan Goolsbee explains why he’s optimistic, what kind of numbers we need to keep seeing to realize a full recovery, and how the report proves that even though some think high unemployment insurance payments will disincentivize people from returning to work, a lack of jobs is actually what’s driving unemployment rates.

Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet.

Twitter: @Austan_Goolsbee

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Strong job growth in March as vaccine distribution expands and the American Rescue Plan ramps up: https://www.epi.org/blog/strong-job-growth-in-march-as-vaccine-distribution-expands-and-the-american-rescue-plan-ramps-up/

The soft underbelly to a looming economic boom: Millions will miss out: https://www.washingtonpost.com/business/2021/03/30/fed-inflation-bad-economy-low-wage/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Winning back our freedom from the market (with Mike Konczal) Apr 06, 2021

The relationship between time, work, and freedom has always been a battleground in the American economy. Could our devotion to free-market fundamentalism in fact be making Americans less free? Author Mike Konczal joins the show to talk about positive versus negative freedom and the policies that would make us more free, in a real sense.

Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute. His latest book is Freedom from the Market: America’s Fight to Liberate Itself from the Grip of the Invisible Hand.

Twitter: @rortybomb

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Freedom from the Market: https://bookshop.org/books/freedom-from-the-market-america-s-fight-to-liberate-itself-from-the-grip-of-the-invisible-hand/9781620975374

Time is the universal measure of freedom: http://bostonreview.net/class-inequality-law-justice/mike-konczal-time-universal-measure-freedom

Our episode with Elizabeth Anderson: https://pitchforkeconomics.com/episode/coercion-in-the-workplace-with-elizabeth-anderson/

Our episode with Anu Partanen and Trevor Corson: https://pitchforkeconomics.com/episode/re-imagining-capitalism-with-anu-partanen-and-trevor-corson/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Andrew Yang interviews Nick! Mar 30, 2021

On his podcast Yang Speaks, former Democratic presidential candidate Andrew Yang asks Nick about pervasive economic myths, the next big labor standards fight (the overtime threshold), and the early days of the Fight for $15. Plus, they debate whether a higher minimum wage or a universal basic income would be better for society.

The episode from Yang Speaks: https://shows.cadence13.com/podcast/yang-speaks/episodes/f017e270-cc82-40ab-b4a2-6b90b1a564e0

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Atlas Hugged (with David Sloan Wilson) Mar 23, 2021

If you’re one of the many people who have asked us to take down the concepts in Atlas Shrugged, which argues that we’re a fundamentally selfish species, this episode is for you! If you’re not one of those people, well, this episode is ALSO for you! Evolutionary biologist David Sloan Wilson has infused the idea of prosociality (the desire to help others) into his new book, Atlas Hugged, and he joins us to explain why Atlas Hugged is a better predictor of how people act than Atlas Shrugged.

David Sloan Wilson is an evolutionary biologist and SUNY Distinguished Professor of Biology and Anthropology at Binghamton University. His books include This View of Life: Completing the Darwinian Revolution and the recently published Atlas Hugged.

Twitter: @David_S_Wilson

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Ayn Rand Meets Her Match: David Sloan Wilson Fights Fiction with Fiction: https://evonomics.com/rand-meets-david-sloan-wilson-atlas-hugged/

Get Atlas Hugged for free: https://atlashugged.world/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Can’t stop, won't stop, GameStop (with Congressman Ro Khanna) Mar 16, 2021

When GameStop’s stock skyrocketed early this year, Wall Street was pissed. A group of Redditors had manipulated the stock market—and everyone knows only professional hedge fund managers are allowed to do that! We couldn’t ignore the market news that took the world by storm, so Nick and Goldy called up CA Congressman Ro Khanna to talk about what happened with GameStop, what it means for financial regulations, and what the government’s response signals about a changing tide in our country’s leadership.

Congressman Ro Khanna is a Representative of California’s 17th District. Rep. Khanna sits on the House Committees on Agriculture, Armed Services, and Oversight and Reform. He is the Deputy Whip of the Congressional Progressive Caucus; serves as an Assistant Whip for the Democratic Caucus and is the Democratic Vice Chair of the House Caucus on India and Indian Americans.

Twitter: @RoKhanna

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Further reading:

A leading progressive Democrat slams Robinhood’s move to restrict trading on some stocks after Reddit-fueled surge: https://www.businessinsider.com/ro-khanna-slams-robinhood-trading-restriction-reddit-traders-amc-gamestop-2021-1

Lawmakers call for regulation after Robinhood halts trading: https://www.marketplace.org/shows/marketplace-tech/lawmakers-want-regulation-after-robinhood-halts-trading/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

No, the relief bill won’t cause inflation (with Austan Goolsbee) Mar 09, 2021

This weekend, the Senate passed the coronavirus relief bill—and the House is scheduled to debate the bill, and widely expected to pass it, on the day this episode is published (Tuesday, March 9th). While the Senate debated what would be the largest disaster-relief legislation in American history, moderate Democrats and ultra-conservative Republicans alike repeated one common criticism—that infusing so much money into the economy would cause inflation. Austan Goolsbee, past Chairman of the Council of Economic Advisers, explains why those fears are misplaced in this episode that will answer every question you’ve ever had about inflation, stimulus checks, and disaster relief.

Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served in Washington as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet.

Twitter: @Austan_Goolsbee

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Further reading:

Biden and the Fed Leave 1970s Inflation Fears Behind: https://www.nytimes.com/2021/02/15/business/economy/biden-fed-inflation-covid.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The idea for a National Investment Authority, explained (with Saule Omarova) Mar 02, 2021

Tackling existential threats to our future like climate change and economic inequality is a huge undertaking, and building the future is going to require massive public investment. Cornell Law Professor Saule Omarova calls for a National Investment Authority that would work inside private markets as a soup-to-nuts problem-solving operation.

Saule Omarova is the Beth and Marc Goldberg Professor of Law at Cornell Law School. She specializes in financial sector regulation, banking law, international finance, and corporate finance.

Twitter: @STOmarova

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Further reading:

Public Investment Reimagined: A National Investment Authority - https://prospect.org/economy/public-investment-reimagined-a-national-investment-authority/

Key benefits of a National Investment Authority: https://www.dataforprogress.org/a-national-investment-authority

https://prospect.org/power/want-expand-economy-tax-rich/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The velocity of money (with Ann Pettifor) Feb 23, 2021

Over the last century, the velocity of money—the rate at which money changes hands through the economy—has declined. Today, money moves at one of the slowest rates on record, meaning every dollar today generates 70% less economic activity than a dollar did just ten years ago. That has big implications for our economy. Political economist Ann Pettifor joins Nick and Goldy to explain how the velocity of money is related to money creation, and why taxing the rich is ultimately pro-growth (it’s all related, we promise!).

Ann Pettifor is a political economist, author, and public speaker, and the Director of PRIME (Policy Research in Macroeconomics). Her work focuses on the global financial system, sovereign debt restructuring, international finance, and sustainable development. She is the author of many books, including The Production of Money and The Case for the Green New Deal.

Twitter: @AnnPettifor

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Further reading:

Want to expand the economy? Tax the rich!

A world awash in money: https://media.bain.com/Images/BAIN_REPORT_A_world_awash_in_money.pdf

What does money velocity tell us about low inflation in the U.S.? https://www.stlouisfed.org/on-the-economy/2014/september/what-does-money-velocity-tell-us-about-low-inflation-in-the-us

Vultures are circling our fragile economy… https://www.annpettifor.com/2020/06/vultures-are-circling-our-fragile-economy/

Decades of empirical research finds no inverse correlation between top tax rates and growth:

https://archive.org/stream/R42111TaxRatesandEconomicGrowth-crs/R42111%20Tax%20Rates%20and%20Economic%20Growth_djvu.txt

https://www.brookings.edu/wp-content/uploads/2016/06/09_Effects_Income_Tax_Changes_Economic_Growth_Gale_Samwick.pdf

http://eprints.lse.ac.uk/107919/1/Hope_economic_consequences_of_major_tax_cuts_published.pdf

https://www.washingtonpost.com/posteverything/wp/2016/04/20/a-graphical-assault-on-supply-side-tax-cuts/

http://bostonreview.net/class-inequality/marshall-steinbaum-why-are-economists-giving-piketty-cold-shoulder

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Re-post: Does the market pay you what you’re worth? (with Marshall Steinbaum and Saru Jayaraman) Feb 16, 2021

The theory of marginal product of labor says that every worker is paid exactly what they’re worth—the value that their labor generates. Employers cite marginal productivity to legitimize paying the lowest wages possible, but that’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman expose the lie of marginal productivity, and show how it’s been used to exploit workers for centuries.

Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow of Higher Education Finance at the Jain Family Institute. He studies market power in labor markets and its policy implications.

Twitter: @Econ_Marshall

Saru Jayaraman is President of One Fair Wage and Director of the Food Labor Research Center at UC Berkeley.

Twitter: @SaruJayaraman

No, Productivity Does Not Explain Income: https://evonomics.com/no-productivity-does-not-explain-income/

ROC United Diners’ Guide App: https://rocunited.org/diners-guide/

Saru Jayaraman: How Restaurant Workers Are Inheriting a Legacy of Slavery in the U.S.: https://bioneers.org/saru-jayaraman-restaurant-workers-inheriting-legacy-slavery-u-s-ztvz1712/

Evidence and Analysis of Monopsony Power, Including But Not Limited To, In Labor Markets: https://www.ftc.gov/system/files/documents/public_comments/2018/08/ftc-2018-0054-d-0006-151013.pdf

Antitrust and Labor Market Power: https://econfip.org/wp-content/uploads/2019/05/Antitrust-and-Labor-Market-Power.pdf

Why Are Economists Giving Piketty the Cold Shoulder?

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What’s the deal with the CBO report? Feb 12, 2021

The big news in the minimum wage world this week is the brand new CBO report—which, among many benefits, also found that a $15 federal minimum wage would cost jobs, increase the deficit, and raise prices. How can that be, when most modern minimum wage studies suggest the opposite? Goldy and Paul explain how CBO arrived at their numbers.

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Further reading:

The CBO report: https://www.cbo.gov/system/files/2021-02/56975-Minimum-Wage.pdf

General coverage and analysis -

CBO report finds $15 minimum wage would cost jobs but lower poverty levels: https://www.washingtonpost.com/business/2021/02/08/minimum-wage-hike-15-an-hour-by-2025-would-result-14-million-unemployed-nonpartisan-congressional-budget-office-says/

CBO analysis confirms that a $15 minimum wage raises earnings of low-wage workers, reduces inequality, and has significant and direct fiscal effects: https://www.epi.org/blog/cbo-analysis-confirms-that-a-15-minimum-wage-raises-earnings-of-low-wage-workers-reduces-inequality-and-has-significant-and-direct-fiscal-effects-large-progressive-redistribution-of-income-caused/

Raising the federal minimum wage to $15 by 2024 would lift pay for nearly 40 million workers: https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2024-would-lift-pay-for-nearly-40-million-workers/

We still need stimulus: How the CBO’s new report captures the urgency of this moment: https://rooseveltinstitute.org/2021/02/01/still-need-stimulus-cbo-report-captures-urgency-of-moment/

Minimum wage and employment -

Impacts of minimum wages: review of the international evidence: https://www.gov.uk/government/publications/impacts-of-minimum-wages-review-of-the-international-evidence

The effect of minimum wage on low-wage jobs: https://academic.oup.com/qje/article/134/3/1405/5484905?login=true

The new wave of local minimum wage policies: Evidence from six cities: https://irle.berkeley.edu/the-new-wave-of-local-minimum-wage-policies-evidence-from-six-cities/

They said Seattle’s higher base pay would hurt workers. Why did they flip? https://www.nytimes.com/2018/10/22/business/economy/seattle-minimum-wage-study.html

Minimum wage shocks, employment flows, and labor market frictions: https://www.journals.uchicago.edu/doi/abs/10.1086/685449?journalCode=jole

Myth or measurement: What does the new minimum wage research say about minimum wages and job loss in the United States? https://www.nber.org/papers/w28388

Minimum wage and prices -

The impact of a city-level minimum wage policy on supermarket food prices by food quality metrics: A two-year follow up study: https://www.mdpi.com/1660-4601/16/1/102

Wages, minimum wages, and price pass-through: The case of McDonald’s Restaurants: https://dataspace.princeton.edu/bitstream/88435/dsp01sb397c318/4/646.pdf

Minimum wage and the federal budget -

Effects of a federal minimum wage increase to $15 by 2025 on the federal budget: https://irle.berkeley.edu/effect-of-a-federal-minimum-wage-increase-to-15-by-2025-on-the-federal-budget/

Raising the minimum wage would boost an economic recovery - and reduce taxpayer subsidization of low-wage work: https://www.americanprogress.org/issues/economy/news/2021/01/27/495163/raising-minimum-wage-boost-economic-recovery-reduce-taxpayer-subsidization-low-wage-work/

A $15 minimum wage would have significant and direct effects on the federal budget: https://www.epi.org/publication/a-15-minimum-wage-would-have-significant-and-direct-effects-on-the-federal-budget/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Feb 09, 2021

You know the drill: Nick and Goldy answer your questions! Did we see ‘pitchforks’ at the Capitol insurrection? What should people who subscribe to the economic theories we talk about in this podcast call themselves? What are the smartest investments the average person can make for a stronger, more prosperous, more democratic America? And more!

To ask Nick and Goldy a question for a future AMA, leave us a voicemail at (731) 388-9334.

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The Pitchforks are Coming… For Us Plutocrats: https://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014

CORE Economics: https://www.core-econ.org/

Evonomics: https://evonomics.com/

Institute for New Economic Thinking: https://www.ineteconomics.org/

Rethinking Economics network: https://www.rethinkeconomics.org/

Raising the minimum wage leads to significant gains for workers, not to ‘benefits cliffs’: https://www.nelp.org/publication/raising-minimum-wage-leads-significant-gains-workers-not-benefits-cliffs/

Study finds increasing minimum wage does not cause loss of jobs: https://www.dailycal.org/2018/09/10/study-finds-increasing-minimum-wage-does-not-cause-loss-of-jobs/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Repost: How to spot a bogus minimum wage study (with Ben Zipperer) Feb 05, 2021

Here’s another resource from the archive that will help you wade through the loud and often misleading coverage of the Raise the Wage Act.

Not all minimum-wage studies are equal. Some of the most headline-grabbing negative reports on the effects of the minimum wage were commissioned and promoted by right-wing organizations looking to legitimize trickle-down policies that hurt workers. How can you spot studies that aren’t worth their salt? Economist Ben Zipperer joins Nick and Jasmin to reveal some of the tricks that economists pull, and to help us understand how some studies can conclude that raising wages will kill jobs—even though, as we know, the opposite is true.

Ben Zipperer is an economist at the Economic Policy Institute. His areas of expertise include the minimum wage, inequality, and low-wage labor markets. He has published research in the Industrial and Labor Relations Review and has been quoted in outlets such as The New York Times, The Washington Post, Bloomberg, and the BBC.

Twitter: @benzipperer, @EconomicPolicy

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Further reading:

Gradually raising the minimum wage to $15 would be good for workers, good for businesses, and good for the economy: https://www.epi.org/publication/minimum-wage-testimony-feb-2019/

Six reasons not to put too much weight on the new study of Seattle’s minimum wage: https://www.epi.org/blog/six-reasons-not-to-put-too-much-weight-on-the-new-study-of-seattles-minimum-wage/

Studies mentioned in the episode:

New EPI study: The Effect of Minimum Wages on Low-Wage Jobs: Evidence from the United States Using a Bunching Estimator: https://www.nber.org/papers/w25434

Card and Krueger: Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: http://davidcard.berkeley.edu/papers/njmin-aer.pdf

University of Washington study - Minimum Wage Increases, Wages, and Low-Wage Employment: Evidence from Seattle: https://www.nber.org/papers/w23532

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Do wealthy Americans have too much power? (with Thom Hartmann) Feb 02, 2021

Is the U.S. an oligarchy, or does it just have a bunch of super-rich people living in it? Is there a difference? Author Thom Hartmann joins Nick and Paul to explain the relationship between wealth and American political power and share some of the research that went into his latest book, ‘The Hidden History of American Oligarchy.’

Thom Hartmann is the #1 progressive radio talk show host in the US and a New York Times bestselling author.

Twitter: @Thom_Hartmann

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The Hidden History of American Oligarchy: https://bookshop.org/books/the-hidden-history-of-american-oligarchy-reclaiming-our-democracy-from-the-ruling-class/9781523091584

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Repost: Why raising the minimum wage doesn’t raise unemployment (with Mayor Eric Garcetti and Alan Krueger) Jan 29, 2021

You may have noticed that the trickle-downers are out in full force again spouting bad ideas in response to the Raise the Wage Act, which will raise the federal minimum wage to $15/hour. To set the record straight, we’re reposting one of our first-ever episodes, from early 2019, that reveals what the research proves (no, raising the minimum wage doesn’t affect employment), and asks why changing public perception around the minimum wage has been so difficult.

Eric Garcetti is the Mayor of LA, where he signed a $15 minimum wage ordinance into law in 2015.

The late Alan Krueger was a leading labor economist best known for his work on the effects of the minimum wage.

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How can Democrats win back rural America? (with Bill Hogseth) Jan 26, 2021

Democrats used to win elections in rural areas, but that seems like a distant memory now. This week, Zach is joined by Bill Hogseth, a political organizer from rural Wisconsin, to talk about the difference between making promises and delivering change—and how Democrats can win rural America back again.

Bill Hogseth is a political organizer from rural Wisconsin, where he works for the Wisconsin Farmers Union. He is the former Chair of the Dunn County Democrats.

Twitter: @billhogseth

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Opinion: Why Democrats Keep Losing Rural Counties Like Mine: https://www.politico.com/news/magazine/2020/12/01/democrats-rural-vote-wisconsin-441458

https://pitchforkeconomics.com/episode/inequality-and-coronavirus-with-heather-boushey-and-michelle-holder/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Zach's twitter: @zachariahsilk

The sounds of the new administration Jan 22, 2021

Celebrate the end of inauguration week with this compilation of fun soundbites from past guests who are now serving in the Biden Administration!

Featuring:

Jared Bernstein, from ‘What can a board game teach us about capitalism? https://pitchforkeconomics.com/episode/what-can-a-board-game-teach-us-about-capitalism/

Chris Lu, from ‘Whatever happened to overtime?’ https://pitchforkeconomics.com/episode/whatever-happened-to-overtime/

Felicia Wong, from ‘Why is getting out of poverty so hard?’ https://pitchforkeconomics.com/episode/why-is-getting-out-of-poverty-so-hard/

Lisa D. Cook, from ‘Economic Woman’: https://pitchforkeconomics.com/episode/economic-woman-with-katrine-marcal-lisa-d-cook-and-anna-gifty-opoku-agyeman/

Mehrsa Baradaran, from ‘The hidden costs of banking while poor’: https://pitchforkeconomics.com/episode/the-hidden-costs-of-banking-while-poor-with-mehrsa-baradaran-and-cate-blackford/

Ron Klain, from ‘Leadership failure made the U.S. pandemic worse’: https://pitchforkeconomics.com/episode/leadership-failure-made-the-u-s-pandemic-worse-with-ronald-klain/

Heather Boushey, from ‘Inequality and coronavirus’ and ‘Whatever happened to the middle class?

https://pitchforkeconomics.com/episode/whatever-happened-to-the-middle-class/

Joelle Gamble, from ‘How Econ 101 upholds racist systems’: https://pitchforkeconomics.com/episode/how-econ-101-upholds-racist-systems-with-joelle-gamble/

Bharat Ramamurti, from ‘The case for a True New Deal’: https://pitchforkeconomics.com/episode/the-case-for-a-true-new-deal-with-bharat-ramamurti/

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The economic challenges Biden faces (with Idrees Kahloon) Jan 19, 2021

Idrees Kahloon from The Economist joins us for inauguration week to assess the daunting economic challenges that the Biden-Harris administration will face the second they take office.

Idrees Kahloon is the Washington correspondent for The Economist. He covers US policy, poverty, and COVID-19 stimulus packages.

Twitter: @imkahloon

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Further reading:

President Joe Biden will face two extraordinary economic challenges: https://www.economist.com/leaders/2020/11/14/president-joe-biden-will-face-two-extraordinary-economic-challenges

Joe Biden is taking office amid a poverty crisis: https://www.vox.com/future-perfect/21582005/joe-biden-poverty-covid

Here’s a look at the economy Biden will inherit next month: https://www.nytimes.com/live/2020/12/17/us/joe-biden-trump#heres-a-look-at-the-economy-biden-will-inherit-next-month

Joe Biden’s Four-Year Plan: https://prospect.org/day-one-agenda/joe-bidens-four-year-plan/

The three progressive policies voters seem to love: https://slate.com/business/2020/11/progressives-election-minimum-wage-marijuana-medicaid.amp

Top charts of 2020: https://www.epi.org/publication/top-charts-of-2020-the-economic-fallout-of-covid-19/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The case for a True New Deal (with Bharat Ramamurti) Jan 12, 2021

In a recent report, The Roosevelt Institute called for a new set of policies to mitigate the economic suffering caused by the pandemic. Taken all together, these policies are as sweeping as the New Deal was—but unlike the New Deal, they’re truly representative of America’s race, class, and gender diversity. Attorney Bharat Ramamurti, the incoming Deputy Director of the Biden administration’s National Economic Council and a co-author of the report, joins Nick and Goldy to make the case for a True New Deal.

Bharat Ramamurti is the incoming Deputy Director of the National Economic Council. At the time of our interview, he was the managing director of the Corporate Power Program at the Roosevelt Institute and a member of the COVID-19 Congressional Oversight Commission. He was previously an economic advisor to Senator Elizabeth Warren.

Twitter: @BharatRamamurti

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A True New Deal: https://rooseveltinstitute.org/publications/true-new-deal-for-the-covid-19-era/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How banking deregulation makes you unsafe (with Anat Admati) Jan 05, 2021

No matter what some politicians may claim, there’s actually no such thing as ‘less regulation’ — there are only regulations that favor the powerful, and those that don’t. Stanford economist Anat Admati walks us through the deregulation of the banking industry and explains how she would overhaul financial regulations to make them work well for society, not just for the rich and powerful.

Anat Admati is the George G.C. Parker Professor of Finance and Economics at Stanford University Graduate School of Business, a director of the Corporations and Society Initiative, and a senior fellow at Stanford Institute for Economic Policy Research. She has written extensively on information dissemination in financial markets, portfolio management, financial contracting, corporate governance, and banking. She is the co-author of ‘The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It’.

Twitter: @anatadmati

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Making financial regulation work for society: https://www.ineteconomics.org/events/finance-society/agenda/making-financial-regulation-work-a-conversation-with-anat-admati-and-brooksley-born

When she talks, banks shudder: https://www.nytimes.com/2014/08/10/business/when-she-talks-banks-shudder.html

Financial crises, corporate scandals and blind spots: who is responsible? https://blogs.lse.ac.uk/businessreview/2018/01/25/financial-crises-corporate-scandals-and-blind-spots-who-is-responsible/

The Bankers’ New Clothes: http://bankersnewclothes.com/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Tax me more, I’m rich (with Abigail Disney and Chye-Ching Huang) Dec 29, 2020

Trickle-down economics would have you believe that the rich are job creators. For decades we’ve been told that the more money the wealthy have to invest in creating jobs, the better the economy will be for everybody. This lie has had catastrophic effects: the top 0.1% of Americans now own more wealth than the bottom 90% of Americans combined. As debates rage among our leaders over stimulus bills and Americans battle their way through this economic crisis, the case for taxing the wealthy has never been as strong as it is now—so this week we’re re-surfacing this episode, originally published in 2019. Class traitor Abigail Disney and tax expert Chye-Ching Huang make the case for taxing the rich.

And we highly recommend Abigail Disney’s podcast, All Ears: https://www.forkfilms.com/all-ears/

Abigail Disney is a documentary filmmaker, philanthropist, and social activist. She is the granddaughter of Roy Disney, the co-founder of the Walt Disney Company.

Twitter: @abigaildisney

Chye-Ching Huang is the Director of Federal Fiscal Policy at the Center on Budget Policy Priorities, where she focuses on the fiscal and economic effects of federal tax and budget policy. She rejoined the Center in 2011 after working as a Senior Lecturer at the University of Auckland, where she taught tax law and conducted research in tax law and policy.

Twitter: @dashching

@CenteronBudget

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why should we cancel student debt? (with Fenaba Addo) Dec 22, 2020

The CARES Act delayed student loan payments as a form of stimulus, raising an important question: if forgiving student loan debt is good policy and broadly popular with Americans, should we just cancel student debt altogether? University of Wisconsin Madison Associate Professor Fenaba Addo, who researches debt and wealth inequality, helps us explore the merits and shortcomings of student debt cancellation.

Fenaba Addo is the Lorna Jorgensen Wendt Associate Professor of Money, Relationships, and Equality at the University of Wisconsin Madison. Her research examines the role of debt and increasing wealth inequality over the past forty years within communities of color and among economically vulnerable populations in the U.S.

Twitter: @FenabaAddo

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Six stupid arguments against forgiving student loan debt: https://prospect.org/day-one-agenda/six-stupid-arguments-against-forgiving-student-loan-debt/

The Racialization of the Student Debt Crisis: http://1xfsu31b52d33idlp13twtos-wpengine.netdna-ssl.com/wp-content/uploads/2020/11/Student-Debt_essay_individual.pdf

I paid off all my student loans. I still support student loan forgiveness: https://www.vox.com/platform/amp/first-person/2019/5/2/18527036/biden-millennials-cancel-student-debt-forgiveness

Forgiving student debt would boost economy, economists say: https://www.npr.org/2019/11/25/782070151/forgiving-student-debt-would-boost-economy

Writing off student debt is one way biden can build black wealth: https://www.bloomberg.com/news/articles/2020-11-12/writing-off-student-debt-is-one-way-biden-can-build-black-wealth

Student debt is hitting African Americans the hardest. These experts have a plan to fix it: https://www.washingtonpost.com/local/education/student-debt-is-hitting-african-americans-the-hardest-these-experts-have-a-plan-to-fix-it/2019/09/20/5f786e48-d0fb-11e9-b29b-a528dc82154a_story.html

Constrained after College: Student Loans and Early Career Occupational Choices: https://www.nber.org/papers/w13117

Is student debt cancellation regressive? No. https://www.currentaffairs.org/2019/06/is-student-debt-cancellation-regressive-no

Who owes all that student debt? And who’d benefit if it were forgiven? https://www.brookings.edu/policy2020/votervital/who-owes-all-that-student-debt-and-whod-benefit-if-it-were-forgiven/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why conventional wisdom is finally pushing for higher wages (with Binyamin Appelbaum) Dec 15, 2020

Six years after the beginning of the Fight for $15 movement, conventional wisdom is finally waking up to economic reality. How do we know? Because the New York Times recently published an editorial titled ‘Let’s Talk About Higher Wages’ calling on the incoming Biden administration to focus on higher wages for everyone. They couldn’t be more right on. Binyamin Appelbaum, the lead writer on business and economics for the Editorial Board, helps us understand the change in consensus on wages.

Binyamin Appelbaum is the lead writer on business and economics for the Editorial Board of The New York Times. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy. His book, ‘The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society’ is a Wall Street Journal Business Bestseller.

Twitter: @BCAppelbaum

Nick on Marketplace: https://www.marketplace.org/2020/12/08/new-rand-study-quantifies-cost-of-rising-us-inequality/

Binyamin has been a guest on our show before! Here’s our episode with him and George Monbiot, ‘How neoliberalism happened’, from October 2019: https://pitchforkeconomics.com/episode/how-neoliberalism-happened-with-george-monbiot-and-binyamin-appelbaum/

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Further reading:

Workers of the World: https://americancompass.org/essays/workers-of-the-world/

The elite needs to give up its GDP fetish: https://www.nytimes.com/2020/08/27/opinion/us-gdp-coronavirus.html

Oren Cass on the future of economics and society: https://www.manhattan-institute.org/economics-after-partisanship-markets-society

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What would you do if you were benevolent dictator? Nov 27, 2020

We’re continuing to celebrate our 100th episode this week with another compilation — the best of the benevolent dictator question. What would you do to fix the world’s most intractable problems if you had no restraints? Our guests from over the last two years weigh in.

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why do you do this work? Nov 24, 2020

It’s our 100th episode! To celebrate, we pulled together some of our favorite answers to the question we love to ask our guests: Why do you do this work? Plus, Nick answers the question too. We’re thankful this week for the thoughts shared by these inspiring people, and for YOU — thanks for listening to the show. We’re excited for the next 100.

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What happens when unemployment benefits run out? (with Ioana Marinescu) Nov 17, 2020

Right now, 26.3 million workers are either on unemployment or waiting to be approved for unemployment benefits. But for many of these jobless workers, the clock is running out on their eligibility to receive unemployment — and with no stimulus bill in sight, we could be entering a grim new phase of this recession. What will happen to the economy when unemployment insurance runs out? What will happen to the people who rely on those benefits? Economist Ioana Marinescu helps Nick and Goldy understand what the near-future of unemployment benefits looks like in the U.S.

Ioana Marinescu is an assistant professor at the University of Pennsylvania School of Social Policy & Practice, and a Faculty Research Fellow at the National Bureau of Economic Research. She studies the labor market to craft policies that can enhance employment, productivity, and economic security.

Twitter: @mioana

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Further reading:

Emergency unemployment programs will expire at year’s end, putting millions at risk: https://www.nytimes.com/2020/11/11/business/emergency-unemployment-programs-will-expire-at-years-end-putting-millions-at-risk.html

Policy Basics: How many weeks of unemployment compensation are available?: https://www.cbpp.org/research/economy/policy-basics-how-many-weeks-of-unemployment-compensation-are-available

30 weeks into the COVID-19 pandemic and workers desperately need stimulus: https://www.epi.org/blog/30-weeks-in-to-the-covid-19-pandemic-and-workers-desperately-need-stimulus/

Unemployment insurance and job search behavior: http://www.marinescu.eu/publication/marinescu-unemployment-2020/

You can’t afford to live anywhere in the United States solely on unemployment insurance: https://www.americanprogress.org/issues/economy/news/2020/09/10/490265/cant-afford-live-anywhere-united-states-solely-unemployment-insurance/

With millions of people out of work, the Senate’s inaction is not only cruel, it’s bad economics: https://www.epi.org/blog/with-millions-of-people-out-of-work-the-senates-inaction-is-not-only-cruel-its-bad-economics/

Scraping by on benefits and part-time work, but a cutoff looms at year’s end: https://www.nytimes.com/2020/10/29/business/scraping-by-on-benefits-and-part-time-work-but-a-cutoff-looms-at-years-end.html

How America gave up on fighting the pandemic and saving the economy: https://www.vox.com/21523204/coronavirus-unemployment-stimulus-economy

8 million have slipped into poverty since May as federal aid has dried up: https://www.nytimes.com/2020/10/15/us/politics/federal-aid-poverty-levels.html

Pelosi sends letter to Secretary Mnuchin on areas still awaiting responses from White House: https://www.speaker.gov/newsroom/102920

Slowdown in jobs added means we could be years away from a full recovery: https://www.epi.org/press/slowdown-in-jobs-added-means-we-could-be-years-away-from-a-full-recovery/

Exclusive: America’s true unemployment rate: https://www.axios.com/americas-true-unemployment-rate-6e34decb-c274-4feb-a4af-ffac8cf5840d.html

Young workers hit hard by the Covid-19 economy: https://www.epi.org/publication/young-workers-covid-recession/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Who is Ron Klain? Nov 13, 2020

In the first major staffing announcement of his incoming administration, President-elect Biden named Ron Klain, Obama’s ebola czar, as his chief of staff. We had a great conversation with Klain back in April, in which he argued that leadership failure and government unpreparedness made the pandemic much worse in the U.S. Now’s a great time to refresh yourself on this episode if you’re wondering how the Biden-Harris administration will respond to the coronavirus and approach wide-spread economic recovery.

Ronald Klain is a lawyer who served as the White House Ebola response coordinator for President Obama. He has held a wide variety of legal and policy positions in government, including his service as chief of staff to VPs Biden and Gore, chief of staff to the attorney general, associate counsel to the president, and chief counsel to the Senate Judiciary Committee. After serving as an advisor to the Biden 2020 campaign, he was named chief of staff for the incoming Biden administration.

Twitter: @RonaldKlain

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Further reading:

Confronting the Pandemic Threat: https://democracyjournal.org/magazine/40/confronting-the-pandemic-threat/

Biden Names Ron Klain as White House Chief of Staff: https://www.nytimes.com/2020/11/11/us/politics/ron-klain-biden.html

We’re past ‘if’ on the coronavirus. We’re on to ‘how bad will it be?’: https://www.washingtonpost.com/opinions/the-coronavirus-has-landed-in-the-us-heres-how-we-can-reduce-the-risk/2020/01/22/afebe9ee-3d53-11ea-baca-eb7ace0a3455_story.html

Trump says US has coronavirus ‘completely under control’ as Washington state confirms first case outside of Asia: https://www.independent.co.uk/news/world/americas/trump-coronavirus-china-wuhan-disease-outbreak-airport-screening-travel-a9296926.html

Obama’s ebola czar on what strong federal response looks like: https://www.wired.com/story/ebola-czar-ron-klain-federal-coronavirus-response/

The huge cost of waiting to contain the pandemic: https://www.nytimes.com/2020/04/14/opinion/covid-social-distancing.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The case for a millionaires tax (with Governor Phil Murphy) Nov 10, 2020

This September, New Jersey Governor Phil Murphy enacted a budget deal with his legislature that increased state taxes on incomes over $1 million. As the country’s second-richest state, this is a big win for progressive taxation. Governor Murphy explains what the tax revenue will go to, how it won’t hurt businesses or cause wealthy people to leave the state, and why it’s the right thing to do in the midst of a national economic crisis .

Phil Murphy is the Governor of New Jersey. He was the U.S. Ambassador to Germany from 2009 to 2013.

Twitter: @PhilMurphyNJ and @GovMurphy

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Further reading:

Deal reached in N.J. for ‘Millionaires Tax’ to address fiscal crisis: https://www.nytimes.com/2020/09/17/nyregion/nj-millionaires-tax.html

Why these millionaires are staying put despite a new tax on them: https://www.nytimes.com/2020/10/02/your-money/wealthy-millionaires-tax-states.html

Who pays? A distributional analysis of the tax systems in all 50 states: https://itep.sfo2.digitaloceanspaces.com/whopays-ITEP-2018.pdf

Do millionaires migrate when taxes are raised? https://inequality.stanford.edu/sites/default/files/media/_media/pdf/pathways/summer_2014/Pathways_Summer_2014_YoungVarner.pdf

N.J. will borrow $4.5 billion as pandemic pain hits states: https://www.nytimes.com/2020/09/24/nyregion/new-jersey-coronavirus-budget.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Election Day AMA Special (with Cristina Uribe) Nov 03, 2020

When are we going to know the results of this election? What can we do about voter suppression? And are Democrats finally giving up on trickle-down economics? Zach and political strategist Cristina Uribe answer these questions and more as they discuss what this election means for our economy and the health of our democracy.

It’s not too late to vote! If you’re unsure how, go to vote.org. And if you already voted by mail, track your ballot and make sure it was accepted!

Cristina Uribe is a veteran political strategist and manager working at the intersection of advocacy and politics. She has held senior management roles at several organizations, including California Director of the Ballot Initiative Strategy Center (BISC), Senior Advisor for Strategic Initiatives at the National Education Association (NEA), and Western Regional Director at EMILY’s List. She has led campaigns and civic engagement efforts in dozens of states across the country.

Twitter: @curibeca

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

BONUS: The Haunting of Buchanan Manor Oct 30, 2020

This strange Halloween, we bring to you the harrowing tale of two young trick-or-treaters who dare to stop at James Buchanan’s house. To learn more about the real-life horrors of Buchanan, read Jane Mayer’s ‘Dark Money’ — the spooky real-life story of the right-wing trickle-down machine.

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https://www.theonion.com/protestors-criticized-for-looting-businesses-without-fo-1843735351

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The real looting in America (with Robert Reich) Oct 27, 2020

The real looting in America is the looting of the wages and savings of the bottom 90% by the wealthiest 1%. And although it’s not in the news nearly as much as other types of looting recently, our rigged economic system causes far more harm to our society. Former Secretary of Labor Robert Reich joins Nick and Jessyn to explain who rigged the system, and what it will take to stop the real looting.

To contact your elected leaders about the transfer of $50 trillion over the past 45 years from working Americans to the top 1%, text RAND to 67076 or go to www.civicaction.com/rand.

Robert Reich is Chancellor’s Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center. He served as Secretary of Labor in the Clinton administration, for which Time Magazine named him one of the 10 most effective cabinet secretaries of the twentieth century. He has written 18 books, the latest of which is “THE SYSTEM: Who Rigged It, and How To Fix It.” He is a founding editor of the American Prospect magazine, founder of Inequality Media, a member of the American Academy of Arts and Sciences, and co-creator of the award-winning documentaries “Inequality for All” and “Saving Capitalism,” both now streaming on Netflix.

Twitter: @RBReich

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Further reading:

Protesters criticized for looting businesses without forming private equity firms first:

Banks gave richest clients ‘concierge treatment’ for pandemic aid: https://www.nytimes.com/2020/04/22/business/sba-loans-ppp-coronavirus.html

Who is really “looting” America? https://www.refinery29.com/en-us/2020/06/9852642/billionaires-rich-looting-america-tax-law-money

The top 1% have taken $50 trillion from the bottom 90%, and that’s made the U.S. less secure: https://time.com/5888024/50-trillion-income-inequality-america/

The golden age of white collar crime: https://www.huffpost.com/highline/article/white-collar-crime/

Some companies seeking bailouts had piles of cash, then spent it: https://www.nytimes.com/2020/04/24/business/coronavirus-bailouts-buybacks-cash.html

U.S. billionaires got $845 billion richer since the start of the pandemic: https://www.fastcompany.com/90551712/u-s-billionaires-got-845-billion-richer-since-the-start-of-the-pandemic

The rich really do pay lower taxes than you: https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.html

What is private equity, and why is it killing everything you love? https://www.vox.com/the-goods/2020/1/6/21024740/private-equity-taylor-swift-toys-r-us-elizabeth-warren

When Wall Street is your landlord: https://www.theatlantic.com/technology/archive/2019/02/single-family-landlords-wall-street/582394/

Many companies pay nothing in taxes. The public has a right to know how they pull it off: https://www.washingtonpost.com/opinions/2020/10/22/many-companies-pay-nothing-taxes-public-has-right-know-how-they-pull-it-off/

Purdue Pharma admits to crimes for its OxyContin marketing. But no one is going to prison: https://www.vox.com/2020/10/21/21526868/purdue-pharma-oxycontin-opioid-epidemic-department-of-justice

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The pro-business case for reimagining capitalism (with Rebecca Henderson) Oct 20, 2020

Harvard Business School professor Rebecca Henderson tells Nick and Goldy why businesses should reject the idea that the sole purpose of the corporation is to maximize shareholder value, and how businesses can help reform the market system.

Rebecca Henderson is a professor at the Harvard Business School, a research fellow at the National Bureau of Economic Research, and a fellow of both the British Academy and the American Academy of Arts and Sciences. She is an expert on innovation and organizational change, and her research explores the degree to which the private sector can play a major role in building a more sustainable economy.

Twitter: @RebeccaReCap

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Further reading:

Reimagining Capitalism in a World on Fire: https://www.publicaffairsbooks.com/titles/rebecca-henderson/reimagining-capitalism-in-a-world-on-fire/9781541730137/

Do managers have a role to play in sustaining the institutions of capitalism? https://www.brookings.edu/wp-content/uploads/2016/06/BrookingsInstitutionsofCapitalismv5.pdf

Ending shareholder primacy in corporate governance: https://rooseveltinstitute.org/publications/ending-shareholder-primacy-in-corporate-governance/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Author Interview: How to rebuild the middle class (with Jim Tankersley) Oct 13, 2020

Why did the American middle class boom after WWII, and how do we get it booming again? New York Times economics reporter Jim Tankersley joins Paul to lay out the thesis of his new book, ‘The Riches of This Land’—that the economy will thrive when everyone can fully participate in it.

Jim Tankersley covers economic and tax policy for The New York Times. Over more than a decade covering politics and economics in Washington, he has written extensively about the stagnation of the American middle class and the decline of economic opportunity in wide swaths of the country.

Twitter: @jimtankersley

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The Riches of This Land: https://www.indiebound.org/book/9781541767836

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything Oct 06, 2020

What’s the opposite of neoliberal economics? What would the manifesto of the perfect political party look like? How much money do corporations spend lobbying against taxes, and is it even worth it? Nick and Goldy answer these questions (and more!) from listeners.

To ask us a question, use the contact page on our website: https://pitchforkeconomics.com/contact/

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Further reading:

Economism: https://www.indiebound.org/book/9781101871195

The Curse of Econ 101: https://www.theatlantic.com/business/archive/2017/01/economism-and-the-minimum-wage/513155/

Arguing with Zombies: https://www.indiebound.org/book/9781324005018

Nick’s publications: https://nickhanauer.com/publications/

Trends in income from 1975 to 2018: https://www.rand.org/pubs/working_papers/WRA516-1.html

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure: https://time.com/5888024/50-trillion-income-inequality-america/

Money spent on lobbying skyrocketed during tax overhaul: https://apnews.com/article/bd8a878c5fe84ea48ffbcf05b4edba0e

The 4 companies that lobbied most on tax overhaul - and what they got for it: https://www.vox.com/policy-and-politics/2017/12/7/16709586/republican-tax-bills-lobbying

Corporations now spend more lobbying Congress than taxpayers spend funding Congress: https://www.vox.com/2015/4/20/8455235/congress-lobbying-money-statistic

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The future of health care (with Abdul El-Sayed) Sep 29, 2020

This week, Biden-Sanders unity task force appointee Dr. Abdul El-Sayed walks Nick and Goldy through the Biden transition team’s health care plan.

Abdul El-Sayed is a physician, epidemiologist, public health expert, and progressive activist. He is the Chair of Southpaw Michigan and a contributor at CNN. He is the author of ‘Healing Politics’ and the co-author of the upcoming ‘Medicare for All: A Citizen’s Guide’. He also hosts “America Dissected,” a podcast by Crooked Media.

Twitter: @AbdulElSayed

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Further reading:

Coronavirus is exploiting an underlying condition: our epidemic of insecurity: https://www.theguardian.com/commentisfree/2020/mar/19/coronavirus-insecurity-anxiety-us-epidemic

Biden-Sanders Unity Task Force Recommendations: https://joebiden.com/wp-content/uploads/2020/08/UNITY-TASK-FORCE-RECOMMENDATIONS.pdf

Healing Politics: https://www.indiebound.org/book/9781419743023

Health insurance and the COVID-19 shock: https://www.epi.org/publication/health-insurance-and-the-covid-19-shock/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The powerlessness of forced labor (with Suresh Naidu) Sep 22, 2020

This week, labor market economist Suresh Naidu explains how his field attempts to account for the influence of power while studying employee/employer relationships, and unveils the hidden tricks of the coercive labor market.

Suresh Naidu is a professor of economics and international and public affairs at Columbia University as well as a fellow at the Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at the National Bureau of Economic Research.

Twitter: @snaidunl

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Further reading:

'Essential' workers are just forced laborers: https://www.washingtonpost.com/outlook/2020/05/21/essential-workers-pay-wages-safety-unemployment/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Inequality is costing workers $50 trillion (with Carter Price) Sep 15, 2020

Yesterday, a groundbreaking study by the RAND Corporation put the first-ever price tag on how much income inequality costs American workers. The bill? $50 trillion. You read that right: $50 trillion has been diverted from working Americans to the wealthiest 1% since 1975. To make sense of this staggering number, Nick and Goldy are joined by mathematician Carter Price, the study’s co-author.

Carter C. Price is a senior mathematician at the RAND Corporation.

Twitter: @CarterCPrice

If you like the show, please consider leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics

Further reading:

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90% - And That’s Made the U.S. Less Secure: https://time.com/5888024/50-trillion-income-inequality-america/

“We were shocked”: RAND study uncovers massive income shift to the top 1%: https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Redefining rural America (with Olugbenga Ajilore) Sep 08, 2020

Economist Olugbenga Ajilore explains how policymakers should be thinking about rural America (it’s not a monolith), and what interventions we should pursue to provide what he calls a “different kind of help.”

Olugbenga Ajilore is a senior economist at the Center for American Progress. His expertise includes regional economic development, macroeconomic policy, and issues in diversity and inclusion.

Twitter: @gbenga_ajilore

If you like the show, please leave us some love! RateThisPodcast.com/pitchforkeconomics

Further reading:

COVID and Rural America: https://democracyjournal.org/magazine/covid-and-rural-america/

Congress Must Help Rural America Respond to the Coronavirus: https://www.americanprogress.org/issues/economy/reports/2020/07/27/488129/congress-must-help-rural-america-respond-coronavirus/

Economic Recovery and Business Dynamism in Rural America: https://www.americanprogress.org/issues/economy/reports/2020/02/20/480129/economic-recovery-business-dynamism-rural-america/

Rural Americans are Vulnerable to the Coronavirus: https://www.americanprogress.org/issues/economy/news/2020/03/05/481340/rural-communities-vulnerable-coronavirus/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Coercion in the workplace (with Elizabeth Anderson) Sep 01, 2020

What would the workplace look like if workers were truly free? Elizabeth Anderson, a leading theorist of democracy and social justice, joins Nick and Goldy for an exploration of the ethical limits of market, theories of value and rational choice, and true freedom.

Elizabeth Anderson is the Arthur F. Thurnau Professor and John Dewey Distinguished University Professor of Philosophy and Women’s Studies at the University of Michigan. She is the author of Private Government: How Employers Rule Our Lives (and Why We Don’t Talk about It), and a recipient of the 2019 MacArthur Fellowship.

Further reading:

Private Government: https://press.princeton.edu/books/hardcover/9780691176512/private-government

The philosopher redefining equality: https://www.newyorker.com/magazine/2019/01/07/the-philosopher-redefining-equality

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Winning on growth (with Michael Linden) Aug 28, 2020

In this special bonus episode, Zach talks to political expert Michael Linden about the message that progressives can, and must, hammer home to win.

Michael Linden is the Executive Director of the Groundwork Collaborative, an organization working to advance an economic vision for strong, broadly shared prosperity and true opportunity for all.

Twitter: @MichaelSLinden

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Author Interview: Money, Democracy, and the Life of John Maynard Keynes (with Zachary Carter) Aug 25, 2020

Neoliberalism arose in the 1970s as a response to the failure of Keynesianism to deal with the effects of stagflation. But what is Keynesianism—and who is John Maynard Keynes? In this author interview, Goldy learns from the Keynes expert, HuffPost senior reporter Zachary Carter, how Keynes’ idea defined American liberalism for much of the 1900s.

Zachary Carter is a senior reporter at HuffPost, where he covers economic policy and American politics. He is the author of the New York Times bestseller, ‘The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes’.

Twitter: @zachdcarter

The Price of Peace: https://www.indiebound.org/book/9780525509035

Vox: We are sleepwalking toward economic catastrophe

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

A long walk off a short economic cliff (with Trevon Logan) Aug 18, 2020

Recessions are inevitable—but the complete economic catastrophe that we’ve experienced for the last five months was not. Professor Trevon Logan explains where we went wrong, debunks myths about the federal unemployment benefit (no, it doesn’t disincentivize people from returning to work!), and calls on Congress to steer us away from this economic cliff.

Trevon Logan is a Professor of Economics and Associate Dean at Ohio State University, and Director of the American Economic Association Mentoring Program. He is also a Research Associate at the National Bureau of Economic Research. He specializes in economic history, economic demography, and applied microeconomics.

Twitter: @TrevonDLogan

Further reading:

Wall Street Journal: Lapse in Extra Unemployment Benefits to Hurt U.S. Recovery, Economists Say

PBS NewsHour: The economics behind racial coronavirus disparities

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

You can’t starve your way out of a recession (with Kitty Richards) Aug 14, 2020

We know that state budget cuts and other austerity policies worsened the 2008 recession and led to a prolonged, uneven recovery. With state and local leaders already clamoring to meet the impending revenue shortfall caused by the COVID crisis, what have we learned, and what can we do differently? In this bonus episode, Paul talks to Groundwork Collaborative strategic advisor Kitty Richards about how states can act now to invest in their residents, bolster their economies, and push back against skyrocketing inequality.

Kitty Richards is a freelance policy consultant and strategic advisor to the Groundwork Collaborative. She has previously worked on federal budget and tax policy at several think tanks, including the Center on Budget and Policy Priorities and the Center for American Progress, and has served as an economic policy staffer on Capitol Hill and in the White House.

Twitter: @KittyRichardsDC

Bolstering state economies by raising progressive taxes: https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI_BolsteringStateEconomies_IssueBrief_072020.pdf

https://www.bloomberg.com/news/articles/2020-07-22/u-s-child-care-providers-need-a-bailout-fast

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Care work is more valuable than ever (with Kate Bahn) Aug 11, 2020

Child care in the U.S. has been in crisis mode for a long time. It’s wildly expensive for families to afford, and difficult for providers to make ends meet. But now, in the age of COVID-19, even the future existence of child care in America is in doubt. Jessyn and Nick tackle the value of care work, the impossibility of finding affordable child care, and the importance of feminist economics with economist Kate Bahn.

Kate Bahn is the director of labor market policy and economist at the Washington Center for Equitable Growth. Her areas of research include gender, race, and ethnicity in the labor market, care work, and monopsonistic labor markets. Previously, she was an economist at the Center for American Progress. Bahn also serves as the executive vice president and secretary for the International Association for Feminist Economics.

Twitter: @LipstickEcon

Further reading:

A feminist economic policy agenda in response to the COVID-19 pandemic and the quest for racial justice: https://equitablegrowth.org/a-feminist-economic-policy-agenda-in-response-to-the-covid-19-pandemic-and-the-quest-for-racial-justice/

America’s child care problem is an economic problem: https://www.vox.com/2020/7/16/21324192/covid-schools-reopening-daycare-child-care-coronavirus

Where is the American Child Care Bailout?

Women’s work-life economics: https://equitablegrowth.org/womens-work-life-economics/

Child care is still the missing ingredient for a fast economic recovery: https://www.latimes.com/politics/story/2020-06-08/lack-of-childcare-options-missing-ingredient-fast-economic-recovery

After coronavirus, nearly half of the day care centers in the U.S. could be gone: https://www.huffpost.com/entry/coming-child-care-crisis-coronavirus-covid-19_n_5ea1fab4c5b6bb28aa34b642?guccounter=1

Why child care is so ridiculously expensive: https://www.theatlantic.com/ideas/archive/2019/11/why-child-care-so-expensive/602599/

Senator Murray introduces $50 billion child care stabilization fund legislation: https://www.murray.senate.gov/public/index.cfm/newsreleases?ContentRecord_id=6CA6719F-5CF4-46F8-B3DC-05630F7C0AF1

Biden announces $75 billion plan to fund universal child care and in-home elder care: https://www.cnbc.com/amp/2020/07/21/biden-to-unveil-775-billion-plan-to-fund-child-care-and-elder-care.html

Public education should be a birthright: https://crooked.com/articles/public-education-birthright/

If you support public schools, you should support universal child care: https://civicskunk.works/if-you-support-public-schools-you-should-support-universal-child-care-4944041934b1

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

It’s time to stop relying on crisis legislation (with Lindsay Owens) Aug 04, 2020

In 12 years, we’ve seen two economic crises with devastating long-term impacts. It seems by now we should be prepared to expect the unexpected… but instead, we’re relying on hastily prepared crisis legislation to save our economy. Again. Economist Lindsay Owens proposes an alternative plan: a standing, off-the-shelf program to stabilize the economy in the event of an economic emergency.

Lindsay Owens is a Fellow at the Great Democracy Initiative, where her writing and research centers on a progressive economic agenda for housing, climate, labor, and healthcare. She previously served as Deputy Chief of Staff and Legislative Director to Representatives Pramila Jayapal and Keith Ellison and as Senior Economic Policy Advisor to Senator Elizabeth Warren.

Twitter: @owenslindsay1

No more bailouts: https://greatdemocracyinitiative.org/document/no-more-bailouts/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

2020 Election AMA (with Cristina Uribe) Jul 28, 2020

It’s less than 100 days until Election Day. What are the chances of political realignment? Is vote-by-mail a panacea? And how can despairing citizens contribute to real change? Civic Ventures President and campaign expert Zach Silk and veteran political strategist Cristina Uribe are joining forces to answer your questions about the 2020 election this week.

Cristina Uribe is a veteran political strategist and manager working at the intersection of advocacy and politics. She has held senior management roles at several organizations, including California Director of the Ballot Initiative Strategy Center (BISC), Senior Advisor for Strategic Initiatives at the National Education Association (NEA), and Western Regional Director at EMILY’s List. She has led campaigns and civic engagement efforts in dozens of states across the country.

Twitter: @curibeca

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

BONUS: Nancy MacLean - Unedited Conversation Jul 24, 2020

Enjoy the full conversation with historian Nancy MacLean, with an extra twelve minutes that didn’t make it into this week’s episode.

Nancy MacLean is an award-winning scholar of the twentieth-century U.S. and the William H. Chafe Distinguished Professor of History and Public Policy at Duke University. Her book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America, was a New York Times bestseller and finalist for the National Book Award, and The Nation magazine named it the “Most Valuable Book” of the year.

Twitter: @NancyMacLean5

How the radical right weaponized ideology (with Nancy MacLean) Jul 21, 2020

If it seems to you like the ultimate goal of the most extreme conservatives is to undermine democracy and cripple democratic institutions—well, according to historian Nancy MacLean, you’re right. This week, MacLean unpacks the meteoric rise in popularity of the radical right’s ideas, and offers a way forward for progressives, based on lessons from successful social movements throughout American history.

Nancy MacLean is an award-winning scholar of the twentieth-century U.S. and the William H. Chafe Distinguished Professor of History and Public Policy at Duke University. Her book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America, was a New York Times bestseller and finalist for the National Book Award, and The Nation magazine named it the “Most Valuable Book” of the year.

Twitter: @NancyMacLean5

Democracy in Chains: https://www.indiebound.org/book/9781101980965

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How Econ 101 upholds racist systems (with Joelle Gamble) Jul 14, 2020

The foundational metaphor of neoliberalism is that a rising tide lifts all boats. But, like many other assumptions in economic thought, that idea willfully ignores racism. Economist Joelle Gamble joins Jessyn and Nick to explain that when economists fail to scrutinize theories through the lens of race, they perpetuate racist outcomes. Plus, The Sadie Collective co-founder Fanta Traore describes how the economics field can take deliberate measures to address the exclusion of Black economists.

Joelle Gamble is a principal with the reimagining capitalism team at Omidyar Network, where she focuses on topics related to building the power of working people and shaping a new economic paradigm. Joelle writes on topics of race, labor, and technology, and sits on the board of directors of the Roosevelt Institute.

Twitter: @joelle_gamble

@OmidyarNetwork

Fanta Traore is a Senior Research Assistant at the Federal Reserve Board of Governors and the co-founder and COO of The Sadie Collective.

Twitter: @TheFantaTraore

@SadieCollective

Further reading:

How economic assumptions uphold racist systems: https://www.dissentmagazine.org/online_articles/how-economic-assumptions-uphold-racist-systems

An Open Letter to Economic Institutions In The Face of #BlackLivesMatter: https://medium.com/@sadiecollective/open-letter-to-economics-blm-5b38100e59b5

What the Big New Study About Race and Mobility Doesn’t Tell Us: https://www.thenation.com/article/archive/what-the-big-new-study-about-race-and-mobility-doesnt-tell-us/

Neoliberalism and Race: https://democracyjournal.org/magazine/53/neoliberalism-and-race/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

There’s no herd immunity to greed (with Thomas Friedman) Jul 07, 2020

Our global system is fragile because we made decisions that made it that way. Where did we go wrong? This week, New York Times columnist Thomas Friedman joins Nick and Goldy to suggest that greed and unfettered globalization are to blame for our vulnerable system, and to discuss what we need to do to get back on track.

Thomas Friedman is a New York Times columnist, the author of six bestselling books, and a three-time Pulitzer Prize winner.

Twitter: @tomfriedman

Further reading:

How We Broke the World: https://www.nytimes.com/2020/05/30/opinion/sunday/coronavirus-globalization.html

America, We Break It, It’s Gone: https://www.nytimes.com/2020/06/02/opinion/trump-george-floyd-america.html

Let’s Change Our Motto to ‘Out of Many, We’: https://www.nytimes.com/2020/06/09/opinion/trump-united-states.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Debunking deficit myths (with Stephanie Kelton) Jun 30, 2020

Modern Monetary Theory is an attempt to accurately describe how government debt and complex financial systems actually work. MMT can help us responsibly use our resources, and no one is more knowledgeable on the subject than our returning guest this week, Professor Stephanie Kelton. As Congressional debates over the need for a new stimulus package heat up, Kelton explains the myths surrounding MMT and what a new understanding of the budget could do for our economy.

Stephanie Kelton is a Professor of Economics and Public Policy at Stony Brook University. She is the leading expert on Modern Monetary Theory. Her new book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of flawed deficit thinking.

Twitter: @StephanieKelton

Further reading:

The Deficit Myth: https://www.indiebound.org/book/9781541736184

Learn To Love Trillion-Dollar Deficits: https://www.nytimes.com/2020/06/09/opinion/us-deficit-coronavirus.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

People are basically good (with Rutger Bregman) Jun 23, 2020

The fundamentals of economic thought are built on the idea that humans are fundamentally self-interested. But, according to historian Rutger Bregman, that’s a misconception — in fact, humans are fundamentally good, and if we want to realistically address our greatest challenges, we need to reconsider our view of our own human nature.

Rutger Bregman is a historian. He has published four books on history, philosophy, and economics, including Utopia for Realists and his latest book, Humankind: A Hopeful History.

Twitter: @rcbregman

Further reading:

Humankind: https://www.indiebound.org/book/9780316418539

The neoliberal era is ending. What comes next? https://thecorrespondent.com/466/the-neoliberal-era-is-ending-what-comes-next/61655148676-a00ee89a

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Vaccine development needs new incentives (with Tahir Amin) Jun 16, 2020

COVID-19 has exposed the limits of the pharmaceutical market model. This week, patent law expert Tahir Amin joins the show to explain why vaccine development needs new incentives.

Tahir Amin is an attorney dedicated to reshaping patent law to better serve the public. He is the Co-Founder and Co-ED of the Initiative for Medicines, Access, and Knowledge (I-MAK), a global nonprofit organization of attorneys, scientists, and health experts working on systemic changes to intellectual property and the political economy of pharmaceutical innovation.

Twitter: @realtahiramin

Further reading:

Covid-19 has exposed the limits of the pharmaceutical market model: https://www.statnews.com/2020/05/19/covid-19-exposed-limits-drug-development-model/

No vaccine in sight: https://newrepublic.com/article/157594/no-coronavirus-vaccine-big-pharma-drug-patent-system

Democrats punt on drug-pricing overhaul in virus relief measure: https://news.bloomberglaw.com/health-law-and-business/democrats-punt-on-drug-pricing-overhaul-in-virus-relief-measure

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Re-imagining public safety (with King County Councilmember Girmay Zahilay) Jun 12, 2020

Budgets are a reflection of our values, and the money we budget for the police is no exception. Our state and local budgets for what we call “safety” are not getting outcomes that reflect our morals. Seattle-area King County Councilmember Girmay Zahilay joins Nick and Jessyn to lay out five policies elected officials should be pledging to support right now to re-imagine public safety.

Girmay Zahilay is a member of the King County Council from District 2. He is an attorney, non-profit founder, and organizer.

Twitter: @GirmayZahilay

Further reading:

City council will consider defunding Seattle Police: https://crosscut.com/2020/06/city-council-will-consider-defunding-seattle-police

Washington state’s other epidemic: Mass incarceration: https://crosscut.com/2020/03/washington-states-other-epidemic-mass-incarceration

Defund the police? Here’s what that really means: https://www.washingtonpost.com/opinions/2020/06/07/defund-police-heres-what-that-really-means/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Podcast Blackout Jun 02, 2020

This week, we are participating in #PodcastBlackout to amplify the seriousness of the need for action to address institutional racism and police violence. After a brief note from Nick, this episode will air 8 minutes and 46 seconds of silence. Below, we've included organizations that are doing the anti-racist work to reform power structures in this country — we hope that you'll turn your attention to them.

8 Minutes and 46 Seconds: How George Floyd Was Killed in Police Custody: https://www.nytimes.com/2020/05/31/us/george-floyd-investigation.html

Donate to, follow, support, and learn from:

Black Lives Matter: https://blacklivesmatter.com/

Campaign Zero (police accountability): https://www.joincampaignzero.org/

The Bail Project: https://bailproject.org/

National Bail Fund Network (find bail funds in your area): https://www.communityjusticeexchange.org/nbfn-directory

NAACP Legal Defense Fund: https://www.naacpldf.org/

Know Your Rights Camp Covid-19 Relief Fund: https://www.knowyourrightscamp.com/covid19

Fair Fight (organizing against voter suppression): https://fairfight.com/

The Innocence Project: https://www.innocenceproject.org/

ACLU: https://www.aclu.org/

George Floyd Memorial Fund: https://www.gofundme.com/f/georgefloyd

Justice for Ahmaud Arbery Fundraiser: https://www.gofundme.com/f/i-run-with-maud

Justice for Breonna Taylor Petition and Fundraiser: https://www.change.org/p/andy-beshear-justice-for-breonna-taylor

Why Wall Street gets a bailout and you don’t (with Matt Stoller) May 26, 2020

Why are rich corporations getting more stimulus money from the government, and getting it faster, than small businesses and individuals? Matt Stoller returns to the show to explain how recovery funds are distributed: Money isn’t neutral, and how money travels matters.

Matt Stoller is the author of BIG, a newsletter about monopoly and finance, and the Director of Research at the American Economic Liberties Project. His recent book, ‘Goliath: The 100-Year War Between Monopoly Power and Democracy’, examines how concentrated financial power and consumerism transformed American politics.

Twitter: @matthewstoller

Further reading:

Subscribe to BIG: https://mattstoller.substack.com/welcome

The Cantillon Effect: Why Wall Street gets a bailout and you don’t: https://mattstoller.substack.com/p/the-cantillon-effect-why-wall-street

Congress “CARES” for Wealthy with COVID-19 Tax Policy Provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/

The Relief Package Ushers in Trump’s Planned Economy: https://www.wired.com/story/the-relief-package-ushers-in-trumps-planned-economy/

End Shareholder Primacy Once and For All: http://bostonreview.net/class-inequality/lenore-palladino-end-shareholder-primacy-once-and-all

We All Have a Stake in the Stock Market, Right? Guess Again: https://www.nytimes.com/2018/02/08/business/economy/stocks-economy.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Why the market fails in a crisis (with Joseph Stiglitz) May 19, 2020

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the pandemic clearly demonstrates that the markets aren’t the efficient adapters that classic economists believe them to be. Nobel laureate economist Joseph Stiglitz explains why the tendency to believe in the market is one of the most deeply rooted trickle-down myths, and why government intervention is the best way forward through this economic downturn.

Joseph Stiglitz is a Nobel laureate economist and a professor at Columbia University. He is also the co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute. In 2011, Stiglitz was named by Time magazine as one of the 100 most influential people in the world. Known for his pioneering work on asymmetric information, Stiglitz focuses on income distribution, risk, corporate governance, public policy, macroeconomics, and globalization. His most recent book, People, Power, and Profits, was just released in paperback.

Twitter: @JosephEStiglitz

Further reading:

People, Power, and Profits: Progressive Capitalism for an Age of Discontent: https://www.indiebound.org/book/9781324004219

Four Priorities for Pandemic Relief Efforts: https://rooseveltinstitute.org/four-priorities-for-covid19-pandemic-relief-efforts/

Why Our Affluent Society Is Facing Shortages in the Face of the Coronavirus Pandemic: https://time.com/5811505/affluent-society-shortages-coronavirus-pandemic/

Deficit Lessons for the Pandemic From the 2008 Crisis: https://prospect.org/economy/deficit-lessons-pandemic-2008-crisis/

How the Economy Will Look After the Coronavirus Pandemic: https://foreignpolicy.com/2020/04/15/how-the-economy-will-look-after-the-coronavirus-pandemic/

Top economist: US coronavirus response is like ‘third world’ country: https://www.theguardian.com/business/2020/apr/22/top-economist-us-coronavirus-response-like-third-world-country-joseph-stiglitz-donald-trump

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Author Interview: Inside the Secret War on Voting with Thom Hartmann May 15, 2020

Paul is joined this week by radio host Thom Hartmann to introduce Thom’s most recent book, ‘The Hidden History of the War on Voting: Who Stole Your Vote and How to Get It Back’. In this poignant interview, Thom explains the strategies and tactics that elites have long employed to disenfranchise American citizens and suppress votes.

Thom Hartmann is a progressive national and internationally syndicated talk show host. Talkers magazine named him America's most important progressive host and has named his show one of the top ten talk radio shows in the country every year for over a decade. A four-time recipient of the Project Censored Award, Hartmann is also a New York Times bestselling author of twenty-six books, translated into multiple languages.

Twitter: @Thom_Hartmann

Further reading:

The Hidden History of the War on Voting: https://www.indiebound.org/book/9781523087785?aff=penguinrandom

https://prospect.org/coronavirus/our-uniquely-american-virus/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Inequality and coronavirus (with Heather Boushey and Michelle Holder) May 12, 2020

The burdens of this pandemic are not borne equally. Economists Heather Boushey and Michelle Holder join the show this week to expose how the coronavirus is exacerbating the already-deep inequalities in our society.

Heather Boushey is the President & CEO and co-founder of the Washington Center for Equitable Growth. She is one of the nation’s most influential voices on economic policy and a leading economist who focuses on the intersection between economic inequality, growth, and public policy. Her latest book is Unbound: How Economic Inequality Constricts Our Economy and What We Can Do About It.

Twitter: @HBoushey

Michelle Holder is an Assistant Professor of Economics at John Jay College, City University of New York. Prior to joining the John Jay faculty, she worked professionally as an economist for over a decade in both the nonprofit and government sectors. Her research focuses on blacks and women in the American labor market, and her economic policy reports have been covered by the New York Times, the Wall Street Journal, the New York Amsterdam News, and El Diario. Her first book African American Men and the Labor Market during the Great Recession was released from Palgrave Macmillan in 2017. Michelle’s educational background includes master’s and doctoral degrees in economics from the New School for Social Research in NYC, and a Bachelor’s degree in economics from Fordham University.

Twitter: @mlholder999

Further reading:

Unbound: https://www.hup.harvard.edu/catalog.php?isbn=9780674919310

The coronavirus recession and economic inequality: a roadmap to recovery and long-term structural change: https://equitablegrowth.org/the-coronavirus-recession-and-economic-inequality-a-roadmap-to-recovery-and-long-term-structural-change/

The “Double Gap” and the Bottom Line: https://rooseveltinstitute.org/wp-content/uploads/2020/03/RI_DoubleGap_Report_202003.pdf

Before COVID-19, corporate America shortchanged black women $50 billion annually: Why all women should care: https://msmagazine.com/2020/04/07/before-covid-19-corporate-america-shortchanged-black-women-50-billion-annually-why-all-women-should-care/

Inequality and poverty were destroying America well before Covid-19: https://www.thenation.com/article/society/inequality-and-poverty-were-destroying-america-well-before-covid-19/

Our uniquely American virus:

Black Americans face alarming rates of coronavirus infection in some states: https://www.nytimes.com/2020/04/07/us/coronavirus-race.html

The coronavirus pandemic and the racial wealth gap: https://www.americanprogress.org/issues/race/news/2020/03/19/481962/coronavirus-pandemic-racial-wealth-gap/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Austerity will make this recession worse (with Mike Konczal) May 05, 2020

When revenues and expenses don’t add up in times of crisis, governments often turn to budget cuts and other austerity measures to balance their accounts. But economists widely agree that the most valuable lesson from the Great Recession is that austerity made the recession worse and slowed down recovery. Mike Konczal joins the show this week to explain why, in a recession, stimulus is particularly powerful and austerity is particularly harmful.

Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute, where he works on financial reform, unemployment, inequality, and a progressive vision of the economy. He is a columnist at Vox, a contributor to The Nation, and a contributing editor at Dissent.

Twitter: @rortybomb @rooseveltinst

Further reading:

A forward-thinking policy response to the coronavirus recession: https://rooseveltinstitute.org/forward-thinking-policy-response-coronavirus-recession/

The stimulus plan that we need now: https://www.thenation.com/article/economy/coronavirus-stimulus/

With a uniquely fragile economy, stimulus is not enough: https://bostonreview.net/class-inequality-politics/mike-konczal-felicia-wong-uniquely-fragile-economy-stimulus-not-enough

Portugal dared to cast aside austerity. It’s having a major revival: https://www.nytimes.com/2018/07/22/business/portugal-economy-austerity.html

Worst recovery in postwar era largely explained by cuts in government spending: https://www.epi.org/blog/worst-recovery-in-post-war-era-largely-explained-by-cuts-in-government-spending/

What have we learned about austerity since the Great Recession? https://www.americanprogress.org/issues/economy/reports/2014/05/30/90621/what-have-we-learned-about-austerity-since-the-great-recession/

The United States is not ready for a recession, but it can be: https://www.americanprogress.org/issues/economy/reports/2019/09/27/475075/united-states-not-ready-recession-can/

Austerity is hammering state economies: https://www.americanprogress.org/issues/economy/reports/2012/06/21/11672/austerity-is-hammering-state-economies/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Labor regulations in the gaming industry (with Jennifer Hale) May 01, 2020

Prolific voice actor Jennifer Hale joins Paul and Stephen to discuss her work in two very different fields: the video game industry, which largely isn't unionized, and the animated film industry, which enjoys strong union protections.

Jennifer Hale is a voice actress known for her work in video game series including Baldur’s Gate, Mass Effect, Halo, World of Warcraft, Spider Man, and many more. In 2013, she was recognized by Guinness World Records as the most prolific female video game voice actor.

Twitter: @jhaletweets

Further reading:

As video games make billions, the workers behind them say it’s time to unionize: https://www.latimes.com/business/technology/la-fi-tn-video-game-union-movement-20190412-story.html

Game makers stare down major union drive: https://www.hollywoodreporter.com/news/video-game-makers-stare-down-major-union-drive-1269510

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Leadership failure made the U.S. pandemic worse (with Ronald Klain) Apr 28, 2020

Pathogens are inevitable—but the scale of disaster accompanying this pandemic was not. Ronald Klain, President Obama’s Ebola czar, joins Nick and Goldy to discuss why the extent of economic collapse and deaths we’ve seen from COVID-19 is borne of government unpreparedness and leadership failure, not fate.

Ronald Klain is a lawyer who served as the White House Ebola response coordinator for President Obama. He has held a wide variety of legal and policy positions in government, including his service as chief of staff to VPs Biden and Gore, chief of staff to the attorney general, associate counsel to the president, and chief counsel to the Senate Judiciary Committee. He is currently an advisor to the Biden 2020 campaign.

Twitter: @RonaldKlain

Further reading:

Confronting the Pandemic Threat: https://democracyjournal.org/magazine/40/confronting-the-pandemic-threat/

We’re past ‘if’ on the coronavirus. We’re on to ‘how bad will it be?’: https://www.washingtonpost.com/opinions/the-coronavirus-has-landed-in-the-us-heres-how-we-can-reduce-the-risk/2020/01/22/afebe9ee-3d53-11ea-baca-eb7ace0a3455_story.html

Trump says US has coronavirus ‘completely under control’ as Washington state confirms first case outside of Asia: https://www.independent.co.uk/news/world/americas/trump-coronavirus-china-wuhan-disease-outbreak-airport-screening-travel-a9296926.html

Obama’s ebola czar on what strong federal response looks like: https://www.wired.com/story/ebola-czar-ron-klain-federal-coronavirus-response/

The huge cost of waiting to contain the pandemic: https://www.nytimes.com/2020/04/14/opinion/covid-social-distancing.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What’s happening in professional sports right now? (A curiosity break with Andrew Brandt) Apr 21, 2020

What does the future of American sports look like? Okay, okay—we know this is out of our wheelhouse. But this week, we’re examining how the global pandemic has affected one very specific corner of the economy: professional sports leagues. Expert Andrew Brandt lays out the scale of losses due to cancellations in an industry that generates $80 billion a year just in direct revenue for North American leagues—plus several hundreds of billions more in indirect revenue for ancillary businesses (like the folks who staff the arenas).

Andrew Brandt is Professor of Practice and Executive Director of the Moorad Center for the Study of Sports Law at Villanova Law School. A contributor to ESPN and Sports Illustrated, he is also the host of the ‘Business of Sports’ podcast.

Twitter: @AndrewBrandt

Clips from CBS Evening News, NBC Sports, and ABC News.

Further reading:

The Coronavirus’s Economic Effect On Sports Could Be Staggering: https://fivethirtyeight.com/features/the-coronaviruss-economic-effect-on-sports-could-be-staggering/

Nearly 75% of Americans Wouldn’t Attend Games If No COVID-19 Vaccine Is Developed, Poll Says: https://www.si.com/sports-illustrated/2020/04/09/poll-sports-coronavirus-return

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

What’s changed since the 1918 pandemic? (A history lesson with Nancy Bristow) Apr 17, 2020

How does our response to the coronavirus pandemic compare to our response 100 years ago, when what is commonly known as the “Spanish Flu” swept through America? Historian Nancy Bristow helps Annie understand the lessons American society learned from the 1918 influenza epidemic, and what we haven’t yet gotten right.

Nancy Bristow is the History Department Chair at the University of Puget Sound, where she teaches twentieth-century American history with an emphasis on race, gender, and social change. She is the author of ‘American Pandemic: The Lost Worlds of the 1918 Influenza Epidemic’.

Twitter: @univpugetsound

@NancyKBristow

Further reading:

American Pandemic on Bookshop.org, an independent site that’s raising money for independent bookstores that are closed during the pandemic: https://bookshop.org/books/american-pandemic-the-lost-worlds-of-the-1918-influenza-epidemic/9780190238551

Or on IndieBound: https://www.indiebound.org/book/9780190238551

Cities that went all in on social distancing in 1918 emerged stronger for it: https://www.nytimes.com/interactive/2020/04/03/upshot/coronavirus-cities-social-distancing-better-employment.html

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Understanding the CARES Act (with Heidi Shierholz) Apr 14, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES) is big—but not big enough to protect working people. Economist Heidi Shierholz joins the show to explain where CARES falls short, and to recommend the safeguards we need to include in future bailout packages.

Heidi Shierholz is a Senior Economist and Director of Policy at the Economic Policy Institute. Her team monitors wage and employment policies coming out of Congress and the administration, and advances a worker-first policy agenda.

Twitter: @hshierholz

@EconomicPolicy

(News clip from FOX 17 VXMI)

Further reading:

Despite some good provisions, the CARES Act has glaring flaws and falls short of fully protecting workers during the coronavirus crisis: https://www.epi.org/blog/despite-some-good-provisions-the-cares-act-has-glaring-flaws-and-falls-short-of-fully-protecting-workers-during-the-coronavirus-crisis/

A widening toll on jobs: ‘This thing is going to come for us all’: https://www.nytimes.com/2020/04/02/business/economy/coronavirus-unemployment-claims.html

Does the stimulus package pass the test? https://civicskunk.works/does-the-stimulus-package-pass-the-test-a070bf4922dc

3.5 million workers likely lost their employer-provided health insurance in the past two weeks: https://www.epi.org/blog/3-5-million-workers-likely-lost-their-employer-provided-health-insurance-in-the-past-two-weeks/

Nearly 20 million workers will likely be laid off or furloughed by July: https://www.epi.org/blog/nearly-20-million-jobs-lost-by-july-due-to-the-coronavirus/

The CARES Act’s aid to state and local governments isn’t enough to shield vital public services from the coronavirus shock: https://www.epi.org/blog/the-cares-acts-aid-to-state-and-local-governments-isnt-enough-to-shield-vital-public-services-from-the-coronavirus-shock-lessons-from-the-great-recession-tell-us-why/

States get billions in record stimulus - but say it’s not enough: https://www.politico.com/states/new-york/albany/story/2020/03/26/states-get-billions-in-record-stimulus-but-say-its-not-enough-1269230

Here are safeguards needed in bailout packages to protect working people and fight corporate greed: https://www.epi.org/blog/any-industry-bailout-package-must-include-meaningful-protections-for-working-people-and-guardrails-against-corporate-greed/

A portrait of disaster: https://www.epi.org/press/a-portrait-of-disaster-initial-ui-claims-jump-from-211000-to-6-6-million-in-three-weeks/

Policymakers twice missed the chance to avert widespread job loss, now they should act to avoid more layoffs: https://www.epi.org/blog/policymakers-twice-missed-the-chance-to-avert-widespread-job-loss-now-they-should-act-to-avoid-more-layoffs/

Congress “CARES” for wealthy with COVID-19 tax policy provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

AMA: COVID-19 and the Economy Apr 07, 2020

How bad will this recession be? Why is Congress bailing out big corporations that had record profits last year? What would happen if stock buybacks were permanently eliminated? This week, Nick and Goldy answer your questions about the economy in the time of COVID-19.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Killing zombie ideas (with Paul Krugman) Mar 31, 2020

In his latest book, Nobel Prize-winning economist and New York Times columnist Paul Krugman argues that economics has been eaten from within by bad assumptions he calls “zombie ideas.” You’ve encountered these zombies before: the idea that cutting taxes creates growth, or that providing healthcare for an entire country is too expensive. This week, Krugman joins Nick and Goldy in the fight to win economic models back from the neoclassical undead.

Paul Krugman is a professor of economics and international affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, he was the recipient of the Nobel Memorial Prize in Economic Sciences for his work on international trade theory. He is the author or editor of 23 books, including the recently published Arguing with Zombies: Economics, Politics, and the Fight for a Better Future.

Twitter: @paulkrugman

Arguing with Zombies: https://www.penguinrandomhouse.ca/books/625526/arguing-with-zombies-by-paul-krugman/9781324005018

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Disaster Economics Mar 24, 2020

As the world shelters in place from the coronavirus pandemic, an economic crisis is growing. This week, Nick and Goldy pull the curtain back on why trickle-down has made us extra vulnerable to disasters like COVID-19. Our focus always, but especially now, should be on building a more resilient and inclusive economy that can actively protect people from ruin and tragedy. The only limit to our ability to address this crisis is our imagination and our willingness to act.

Further reading:

Hurricanes hit the poor the hardest: https://www.brookings.edu/blog/social-mobility-memos/2017/09/18/hurricanes-hit-the-poor-the-hardest/

Insult to Injury: Natural Disasters and Residents’ Financial Health: https://www.urban.org/research/publication/insult-injury-natural-disasters-and-residents-financial-health

How natural disasters can increase inequality: https://www.pbs.org/newshour/economy/making-sense/how-natural-disasters-can-increase-inequality

Poverty and Death: Disaster and Mortality 1996-2015: https://reliefweb.int/report/world/poverty-death-disaster-and-mortality-1996-2015

Poll: Nearly 1 in 5 Households Have Lost Work Because of Pandemic: https://www.npr.org/2020/03/17/817158521/poll-nearly-1-in-5-households-have-lost-work-because-of-pandemic

Mnuchin warns senators of 20% US unemployment without coronavirus rescue, source says: https://www.cnbc.com/2020/03/18/mnuchin-warns-senators-of-20percent-us-unemployment-without-coronavirus-rescue-source-says.html

Coronavirus shock will likely claim 3 million jobs by summer: https://www.epi.org/blog/coronavirus-shock-will-likely-claim-3-million-jobs-by-summer/

News clips from CBS News and ABC News

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The federal budget is a theory of growth (with Bob Greenstein) Mar 17, 2020

A budget is a moral document that reflects what we value and prioritize. But to most people, the budget-making process is convoluted and confusing. Budget expert Bob Greenstein joins Nick and Jasmin this week to explain how a budget is made, and how these mind-bogglingly huge numbers impact everyday life.

Bob Greenstein is the Founder and President of the Center of Budget and Policy Priorities, a nonpartisan research and policy institute that analyzes federal budget priorities. Greenstein is considered an expert on the federal budget and a range of domestic policy issues, including anti-poverty programs and various aspects of tax and health care policy.

Twitter: @GreensteinCBPP

@CenterOnBudget

Further reading:

Trump’s budget will wreak havoc on the American economy: https://www.cnn.com/2020/02/20/perspectives/trump-budget-economy/index.html

2021 Trump Budget Would Increase Hardship and Inequality: https://www.cbpp.org/research/federal-budget/2021-trump-budget-would-increase-hardship-and-inequality

News clips from PBS NewsHour and Bloomberg Politics.

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Welcome to the golden age of white collar crime (with Michael Hobbes) Mar 10, 2020

Why is right now the easiest time in modern history for the wealthy to get away with whatever they want? HuffPost reporter and fellow Seattleite Michael Hobbes joins Zach in the studio for a deep dive into his most recent article about white collar crime.

Michael Hobbes covers the new economy for HuffPost and is the co-host of the podcast “You’re Wrong About”.

Twitter: @RottenInDenmark

@HuffPost

Further reading:

The Golden Age of White Collar Crime: https://www.huffpost.com/highline/article/white-collar-crime/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The emerging economic problems of the next decade (with futurist Kevin Kelly) Mar 03, 2020

Pretend every economic problem we’ve ever discussed on this podcast has magically been solved. What’s next? What are the economic problems that we’ll face a decade from now? This week, Nick and Goldy are joined by futurist Kevin Kelly for a conversation based on a voicemail left by Pitchfork Economics listener Cody from Florida. Thanks, Cody!

You can call and leave us a voicemail, too—in fact, we would love it if you did! Our number is (731) 388-9334.

Kevin Kelly is Senior Maverick and co-founder at Wired. He has written for The New York Times, The Economist, Science, Time, and The Wall Street Journal among many other publications. His most recent book, The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future, is a New York Times Bestseller.

Twitter: @kevin2kelly

Further reading:

The Inevitable: https://www.indiebound.org/book/9780525428084

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

From generosity to justice (with Darren Walker) Feb 25, 2020

You can’t talk about philanthropy without mentioning Darren Walker. As the president of the Ford Foundation, Walker has been charged with reimagining one of the largest philanthropic endowments in the world. This week he joins Nick and Jessyn in a conversation about transforming philanthropy to meet the challenges of structural inequality.

Darren Walker is president of the Ford Foundation. He chaired the philanthropy committee that brought a resolution to the city of Detroit’s historic bankruptcy and is co-founder and chair of the US Impact Investing Alliance. Before joining Ford, Darren was vice president at the Rockefeller Foundation.

Twitter: @darrenwalker

@FordFoundation

Further reading:

From Generosity to Justice: https://www.fordfoundation.org/ideas/ford-forum/the-future-of-philanthropy/from-generosity-to-justice/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Paul’s Book Review: Democracy in Chains Feb 21, 2020

Democracy in Chains is required reading around the Civic Ventures office, and Paul is happy to explain why it’s earned must-read status. Listen, be convinced, go read!

Democracy in Chains: https://www.indiebound.org/book/9781101980965

Paul’s twitter: @paulconstant

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Debunking economics (with Steve Keen) Feb 18, 2020

We’re continuing the conversation about reimagining capitalism this week with Professor Steve Keen, one of the biggest names in alternative economics. What would society look like if we stopped believing in long-held economic fictions like meritocracy and the equilibrium system?

Steve Keen has spent his career working to develop an alternative, realistic economics. He is the author of Debunking Economics and the designer of Minsky, an open source dynamic modelling program that makes it possible for anyone to build and understand monetary models of the economy. He was one of the first economists to correctly predict the 2008 financial crisis and its causes.

Twitter: @ProfSteveKeen

Steve Keen’s work is funded through Patreon: https://www.patreon.com/ProfSteveKeen

Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com

Further reading:

Debunking Economics: https://www.goodreads.com/book/show/10303367-debunking-economics---revised-and-expanded-edition

Minsky download: https://sourceforge.net/projects/minsky/

Inequality, Debt, and Credit Stagnation: https://www.debtdeflation.com/blogs/2016/07/05/inequality-debt-and-credit-stagnation/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

BONUS: Class warfare in Finland (a history lesson with Tuomas Tepora) Feb 14, 2020

On Tuesday’s episode, Anu Partanen mentioned the Finnish civil war, which divided the country between elite land-owners and the working class. That’s right up our pitchforks alley - so we called an expert, Finnish professor Tuomas Tepora, for a history lesson.

Tuomas Tepora is a lecturer in history at the University of Helsinki. His research deals with a wide variety of topics related to the cultural history of war and the history of emotions.

Twitter: @TTepora

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Re-imagining capitalism (with Anu Partanen and Trevor Corson) Feb 11, 2020

Contrary to popular belief, Nordic countries aren’t actually socialist! No, friends, the Nords are capitalists—but they pull it off much better than we do. To help re-imagine American capitalism, writers Anu Partanen and Trevor Corson join us this week all the way from Finland.

Anu Partanen is a journalist and the author of The Nordic Theory of Everything. The book debunks some of the most common myths about Nordic societies and discusses what the United States might be able to borrow from aspects of Nordic success in the twenty-first century. She has written for The New York Times and The Atlantic.

Twitter: @anupartanen

Trevor Corson is an award-winning author and editor. His articles and essays have appeared in The New York Times, The Wall Street Journal, The Atlantic, and many more.

Twitter: @TrevorCorson

Further reading:

The Nordic Theory of Everything: https://www.indiebound.org/book/9780062316547

Finland Is a Capitalist Paradise: https://www.nytimes.com/2019/12/07/opinion/sunday/finland-socialism-capitalism.html

What Americans Don’t Get About Nordic Countries: https://www.theatlantic.com/politics/archive/2016/03/bernie-sanders-nordic-countries/473385/

Capitalism Redefined: https://democracyjournal.org/magazine/31/capitalism-redefined/

Safe, happy and free: does Finland have all the answers? https://www.theguardian.com/world/2018/feb/12/safe-happy-and-free-does-finland-have-all-the-answers

Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Voicemails with Goldy Feb 07, 2020

Goldy’s in the studio today answering your questions! Up for debate this time: What’s the line between needing to budget more and just not making enough money? Will raising the minimum wage hurt small, rural businesses? And how is public opinion about the difference between worker and CEO pay changing?

Find Goldy on Twitter: @GoldyHA

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The hidden costs of banking while poor (with Mehrsa Baradaran and Cate Blackford) Feb 04, 2020

The average family earning $25,000 a year in the U.S. spends about $2,400 on financial transactions. Whether it’s the astronomical interest rates of a payday loan or the costs that come with being unbanked, the extractive practices of the financial services industry are effectively keeping the poor in poverty. Lawyer and author Mehrsa Baradaran and economic mobility expert Cate Blackford join Nick and Steph this week to explain why banking while poor is so expensive, and what states can do to rein in the people who profit from it.

Mehrsa Baradaran is a professor of law at UC Irvine. She writes about banking law, financial inclusion, inequality, and the racial wealth gap. Her scholarship includes the books How the Other Half Banks and The Color of Money: Black Banks and the Racial Wealth Gap.

Twitter: @MehrsaBaradaran

Cate Blackford is the Director of Outreach and Donor Development at the Bell Policy Center, where she leads the Financial Equity Coalition to eradicate systemic discrimination and hold financial predators accountable. She was the Co-Chair of the 2018 Proposition 111 campaign in CO to limit the interest lenders could charge on payday loans and eliminate fees from payday lending products, which passed with 75% of the vote.

Twitter: @catetiller @BellPolicy

Further reading:

How the Other Half Banks: https://www.hup.harvard.edu/catalog.php?isbn=9780674983960

The Color of Money: https://www.hup.harvard.edu/catalog.php?isbn=9780674237476

If the U.S. Government Treated Poor People as Well as It Treats Banks: https://www.theatlantic.com/business/archive/2015/10/if-the-us-government-treated-poor-people-as-well-as-it-treats-banks/410614/

CO’s Prop 111 explained: https://coloradosun.com/2018/10/22/proposition-111-colorado-2018-explained/

Briefed by the Bell - Predatory Economy: https://www.bellpolicy.org/2018/09/10/predatory-economy/

How Do Payday Loans Work? https://www.incharge.org/debt-relief/how-payday-loans-work/

Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com

https://prospect.org/takebackourparty/chapter-4-our-democratic-party/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

How neoliberalism captured Democrats (with James Kwak) Jan 28, 2020

Democrats used to be known as the party of the working people—so how did they get so off track? Who took over the party, and why? Author and professor James Kwak joins Nick and Paul in a blistering analysis of the decline of the Democratic Party, and explains how we can get it back on track.

News clips credit: C-SPAN, ProfGP, CNN

James Kwak is a professor at the UConn School of Law and the chair of the board of the Southern Center for Human Rights. He is the author or co-author of 13 Bankers, White House Burning, and Economism. His latest book, Take Back Our Party: Restoring the Democratic Legacy, is available for free online at The American Prospect.

Twitter: @jamesykwak

Read Take Back Our Party on The American Prospect:

Introduction - Restoring the Democratic Legacy: https://prospect.org/politics/take-back-our-party-restoring-the-democratic-legacy/

Chapter 1 - Their Democratic Party: https://prospect.org/takebackourparty/chapter-1-their-democratic-party/

Chapter 2 - Bad Policy: https://prospect.org/takebackourparty/chapter-2-bad-policy/

Chapter 3 - Bad Politics: https://prospect.org/takebackourparty/chapter-3-bad-politics/

Chapter 4 - Our Democratic Party:

Paul’s Book Review: Neighborhood Defenders Jan 24, 2020

You’re probably aware of the term ‘NIMBY’, which refers to the folks who show up at their neighborhood meetings to fight development. The ‘Not In My Backyard’ argument is pervasive in urban and rural areas alike, and it’s notorious for impeding much-needed housing reform. This week, Paul recommends ‘Neighborhood Defenders: Participatory Politics and America’s Housing Crisis’, a book that dives into the NIMBY mind and explains the connections between these neighborhood defenders and America’s growing housing crisis.

Paul’s twitter: @paulconstant

Neighborhood Defenders: https://www.cambridge.org/core/books/neighborhood-defenders/0677F4F75667B490CBC7A98396DD527A

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Corporate parasites: how taxpayers subsidize profits (with Rana Foroohar and David Dayen) Jan 21, 2020

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies.

David Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it.

News clips credit: CNBC, KING 5, NPR, Democracy Now!

Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us.

Twitter: @RanaForoohar / @FT / @CNN

David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His is the author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud.

Twitter: @ddayen / @theprospect

Further reading:

Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/

Makers and Takers: https://www.ranaforoohar.com/makersandtakers

How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Ask Nick Anything (Part 2) Jan 14, 2020

Up this week in listener questions: How much should you tip when you’re using a company credit card? What’s the difference between democratic socialism and the ideas we talk about? Who holds our national debt, and what does that even mean? And more!