Pitchfork Economics with Nick Hanauer

Latest Episodes:

Does the market really pay you what you’re worth? (with Marshall Steinbaum and Saru Jayaraman) Sep 10, 2019

Show notes

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 it’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman join us this week to 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. He was previously a Senior Economist and Fellow at the Roosevelt Institute, and a Research Economist at the Center for Equitable Growth.

Twitter: @Econ_Marshall

Saru Jayaraman is the Co-Founder and President of the Restaurant Opportunities Centers United (ROC United) and Director of the Food Labor Research Center at the University of California, Berkeley. Saru authored ‘Behind the Kitchen Door’, a national bestseller, and her most recent book is ‘Forked: A New Standard for American Dining.’

Twitter: @SaruJayaraman

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

Does the future of work include a Federal Jobs Guarantee? (with Pavlina Tcherneva and Representative Ro Khanna) Aug 27, 2019

Show notes

Under a Federal Jobs Guarantee, rather than distributing unemployment checks, the government would give a living-wage job to everyone that needs one. It’s a concept that’s been gaining popularity recently, and it’s often pitted against universal basic income. For the second episode in this two-part series exploring both ideas, expert Pavlina Tcherneva and Representative Ro Khanna join Nick and Paul to make the case for a Job Guarantee.

Pavlina Tcherneva is an Associate Professor of Economics at Bard College and a Research Scholar at the Levy Economics Institute. Her research on the job guarantee has informed the proposals of several members of congress, and she has collaborated with governments around the world on designing and evaluating employment programs.

Twitter: @ptcherneva

Ro Khanna is the U.S. Representative from California’s 17th congressional district. He sits on the House Budget, Armed Services, and Oversight and Reform committees and is first vice chair of the Congressional Progressive Caucus. He also serves as an Assistant Whip for the Democratic Caucus. In 2018, he introduced legislation to ensure that every jobless worker in the country is given the opportunity to earn a living.

Twitter: @RoKhanna

Further reading:

Ro Khanna Has an Ambitious Plan to Put the Unemployed to Work. Just Don’t Call It a Job Guarantee. https://slate.com/business/2018/07/ro-khanna-has-an-ambitious-plan-to-help-the-unemployed-just-dont-call-it-a-job-guarantee.html

Trump’s bait and switch: job creation in the midst of welfare state sabotage: http://www.paecon.net/PAEReview/issue78/Tcherneva78.pdf

4 big questions about job guarantees: https://www.vox.com/2018/4/27/17281676/job-guarantee-design-bad-jobs-labor-market-federal-reserve

The Federal Job Guarantee - A Policy to Achieve Permanent Full Employment: https://www.cbpp.org/research/full-employment/the-federal-job-guarantee-a-policy-to-achieve-permanent-full-employment

Unemployment: The Silent Epidemic: http://www.levyinstitute.org/pubs/wp_895.pdf

The Job Guarantee: Design, Jobs, and Implementation: http://www.levyinstitute.org/pubs/wp_902.pdf

Paul’s Book Review: Listen, Liberal Aug 23, 2019

Show notes

We love books here at Civic Ventures, and writer, book reviewer, and former bookseller Paul Constant is the first person on the team that we go to for recommendations. Today, we’re excited to share his thoughts about ‘Listen, Liberal’ by Thomas Frank in his first book review for the podcast! According to Paul, ‘Listen, Liberal’ just might have the power to make Democrats relevant again. So cozy up, press play, and let Paul tell you about a book. Pair with a cup of tea.

Listen, Liberal: http://listenliberal.com/

Twitter: @paulconstant

Paul’s website, The Seattle Review of Books: https://seattlereviewofbooks.com/

A skeptic's guide to Universal Basic Income (with Scott Santens and Sukhi Samra) Aug 20, 2019

Show notes

You can’t throw a rock without hitting a wandering conversation about Universal Basic Income these days—but in our office, we’re still skeptical. For the first in a two-episode series exploring guaranteed income and its sister idea, guaranteed jobs, UBI expert Scott Santens and Sukhi Samra, the executive director of a real-life UBI experiment in California, join Nick and Paul to make the case for a universal basic income.

Scott Santens is a prominent UBI advocate with a crowdfunded income via Patreon. As a writer and blogger, his pieces advocating for basic income have appeared in The Huffington Post, The Boston Globe, TechCrunch, Vox, the World Economic Forum, and Politico. He is on the board of directors of the U.S. Basic Income Guarantee Network, a founding member of the Economic Security Project, an advisor to the Universal Income Project, a founding committee member of Basic Income Action, and founder of the BIG Patreon Creator Pledge.

Twitter: @scottsantens

Patreon: https://www.patreon.com/scottsantens

Sukhi Samra is the Executive Director of the Stockton Empowerment Demonstration (SEED), a pilot program to test a universal basic income in Stockton, CA. SEED is the country’s first-ever city-led Guaranteed Income Initiative.

Twitter: @stocktondemo

Further reading:

Our Vision for SEED: A Discussion Paper: https://www.stocktondemonstration.org/wp-content/uploads/2019/05/SEED-Discussion-Paper.pdf

What would a universal basic income mean for America? Stockton thinks it has the answer: https://www.latimes.com/local/california/la-pol-ca-basic-income-stockton-reparations-20190415-story.html

The Progressive Case for Replacing the Welfare State with Basic Income: https://www.huffpost.com/entry/the-progressive-case-for_b_12236546

Shared security, shared growth: a social contract for the 21st century (with Senator Mark Warner and Abby Solomon) Aug 13, 2019

Show notes

There are nearly 60 million gig economy workers in the U.S. workforce, yet benefits like health care, retirement, and paid leave are still tied to traditional salaried jobs. It is essential that we adopt new policies guaranteeing all workers the basic level of economic security necessary to sustain and grow the American middle class—and with it, the economy as a whole. This week, Senator Mark Warner and SEIU 775 Benefits Group Executive Director Abby Solomon imagine what a shared security system designed to fit modern flexible employment realities might look like.

Senator Mark Warner is the senior U.S. Senator from Virginia. He serves on the Senate Finance, Banking, Budget, and Rules Committees as well as the Select Committee on Intelligence, where he is the Vice Chairman. From 2002 to 2006, he served as Governor of Virginia. Senator Warner spent 20 years as a successful technology and business leader in Virginia before entering public office.

Twitter: @MarkWarner

Abby Solomon is the Executive Director of SEIU 775 Benefits Group, overseeing trusts for training, health, and retirement benefits for Washington state’s Home Care Aide workforce. The Benefits Group provides portable benefits to 50,000 home care workers. Previously, Abby was the Director of Home Care Campaigns at SEIU, where she led national advocacy campaigns representing 1.9 million workers and 100+ occupational fields throughout the United States and Canada.

Twitter: @SEIU775BG

Further reading:

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

Portable Benefits for an Insecure Workforce: https://prospect.org/article/portable-benefits-insecure-workforce

Building a portable benefits system for today’s world: http://seiu775.org/building-a-portable-benefits-system-for-todays-world/

Educationism (with Diane Ravitch) Aug 06, 2019

Show notes

Like many rich Americans, Nick used to think that focusing their philanthropic efforts in the country’s education system could heal many of our biggest problems. But in The Atlantic last month, he admitted he was wrong—better schools won’t fix America unless we fix inequality first. He’s joined this week by Diane Ravitch, a giant in the education policy world who also changed her mind about what works and what doesn’t. Can these two converts from the theory of educationism find a new way to expand educational opportunity in America while also combating runaway income inequality?

Diane Ravitch is a Research Professor of Education at New York University and a historian of education. She is the Founder and President of the Network for Public Education. From 1991 to 1993, she was Assistant Secretary of Education under President George H.W. Bush, where she led the federal effort to promote the creation of voluntary state and national academic standards. In her book ‘The Death and Life of the Great American School System: How Testing and Choice Are Undermining Education’, Ravitch examines her career in education reform and repudiates positions that she once staunchly advocated.

Twitter: @DianeRavitch

Further reading:

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

The robots are coming… what now? (with Heidi Shierholz and Daron Acemoglu) Jul 30, 2019

Show notes

With every technological advancement since the dawn of time, conventional wisdom has warned that technology and automation kills jobs. But robots aren’t the root cause of our problems. Although technology has always changed the nature of work, this week's guests Heidi Shierholz and Daron Acemoglu argue that there is no evidence that it has led or will lead to overall increased joblessness, unemployment, or wage stagnation.

Heidi Shierholz is a Senior Economist and the Director of Policy at the Economic Policy Institute. She was a Chief Economist at the U.S. Department of Labor under President Obama from 2014 to 2017. Her research and insights on labor and employment policy, the effects of automation on the labor market, wage stagnation, inequality, and many other topics routinely shape policy proposals and inform economic news coverage.

Twitter: @hshierholz

Daron Acemoglu is a Professor of Economics at the Massachusetts Institute of Technology. He is the co-author of the New York Times and Wall Street Journal bestselling book ‘Why Nations Fail’, with James A. Robinson. In 2005, he received the John Bates Clark Medal, awarded to economists under forty judged to have made the most significant contribution to economic thought and knowledge.

Twitter: @DrDaronAcemoglu

Further reading:

The zombie robot argument lurches on (EPI): https://www.epi.org/publication/the-zombie-robot-argument-lurches-on-there-is-no-evidence-that-automation-leads-to-joblessness-or-inequality/

How robots became a scapegoat for the destruction of the working class (The Week): https://theweek.com/articles/837759/how-robots-became-scapegoat-destruction-working-class

Automation, Job Loss, and the Welfare State (Council on Foreign Relations): https://www.cfr.org/event/automation-job-loss-and-welfare-state

Robots, or automation, are not the problem (EPI): https://www.epi.org/publication/robots-or-automation-are-not-the-problem-too-little-worker-power-is/

Robots kill jobs. But they create jobs, too. (Brookings): https://www.brookings.edu/blog/up-front/2019/03/18/robots-kill-jobs-but-they-create-jobs-too/

Where Do Good Jobs Come From? (Project Syndicate): https://www.project-syndicate.org/commentary/automation-vs-job-creation-by-daron-acemoglu-2019-04?barrier=accesspaylog

The Revolution Need Not Be Automated (Project Syndicate): https://www.project-syndicate.org/commentary/ai-automation-labor-productivity-by-daron-acemoglu-and-pascual-restrepo-2019-03?barrier=accesspaylog

BONUS: What to listen for in the second round of presidential debates Jul 26, 2019

Show notes

The second round of presidential debates are quickly approaching. The debates move fast, and we know there’s a lot to sift through—so allow us to make it easier on you! In this pre-debates briefing, Nick and Zach lay out exactly what kind of economics talk you should be listening for ahead of next Tuesday and Wednesday’s festivities.

Further reading: https://www.politico.com/magazine/story/2019/06/26/democratic-debate-economy-middle-class-analysis-growth-227217

Our TOPPODCAST Picks

Follow Us

Stay Connected

Pitchfork Economics with Nick Hanauer

Related Podcasts

Links

Stay Connected