Pitchfork Economics with Nick Hanauer

Latest Episodes:

LIVE from DC: Redefining the Center (with Heather Boushey) Apr 16, 2024

Show notes

This special episode of Pitchfork Economics features a live conversation from the "Redefining the Center: How to Make Middle-Out Economics the New Mainstream" conference hosted by Democracy Journal in Washington, D.C. Heather Boushey, a member of the White House Council of Economic Advisors, joins Nick for a wide-ranging discussion moderated by Michael Tomasky, editor of Democracy Journal. Hanauer & Boushey explore the policy initiatives being pursued by the Biden administration that prioritize working families and promote economic growth from the middle out and discuss the crucial role of the middle out as a paradigm shift in how people think about economic cause and effect. This dynamic and thought-provoking discussion was a great start to an outstanding conference.

Heather Boushey is an economist and policy advisor who serves as a key member of President Biden's White House Council of Economic Advisors and Chief Economist for the President’s Invest in America Cabinet. Prior to joining the Biden administration, she was the President and CEO of the Washington Center for Equitable Growth, a think tank focused on advancing evidence-based policies to reduce inequality. In her role in the White House, she plays a crucial role in shaping economic policy and advising the President on issues related to labor, income inequality, and economic opportunity.

Twitter: @hboushey46

Further reading: The Middle-Out Moment Is Here

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

The True Crime of Wage Theft (with Terri Gerstein) Apr 09, 2024

Show notes

In the shadows of corporate greed and exploitation lies a sinister crime that is silently perpetrated, leaving countless victims in its wake—a crime that affects millions of hardworking Americans every year and sucks billions out of our economy —Wage Theft. No industry is immune to this insidious crime, from restaurant workers to construction laborers. On this episode of Pitchfork Economics, we are joined by Terri Gerstein, Director of the Labor Initiative at NYU Robert F. Wagner Graduate School of Public Service, to unpack the chilling truth behind these workplace crimes, learn who the perpetrators are, and uncover how they get away with it. Most importantly, what can be done to stop them?

Terri Gerstein is the Director of the NYU Wagner Labor Initiative, at NYU’s Robert F. Wagner Graduate School of Public Service, which explores and helps activate the often-untapped potential of government in safeguarding and advancing workers' rights. Previously, Terri enforced labor laws in New York for 17 years, including as Labor Bureau Chief in the New York State Attorney General’s Office.

Crime music bed by Power Music Factory

News clips from CBS News, CBS Miami, and CBS Philadelphia

Twitter: @TerriGerstein

NYU Wagner Labor Initiative

Further reading:

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

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

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

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

Show notes

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

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

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

Website: http://pitchforkeconomics.com

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

Show notes

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

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

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

Show notes

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

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

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

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Middle Out to Mainstream Mar 12, 2024

Show notes

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

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

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

Show notes

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?

https://www.brookings.edu/articles/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

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

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

Show notes

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

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

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