Pitchfork Economics with Nick Hanauer

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

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

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

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

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

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

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

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  More from David Cay Johnston:  “Alvin Bragg’s roadmap to convict Donald Trump” https://www.nydailynews.com/2023/01/08/alvin-braggs-roadmap-to-convict-donald-trump/ Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Else https://bookshop.org/a/101360/9781591840695  Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill) https://bookshop.org/a/101360/9781591842484  Divided: The Perils of Our Growing Inequality https://bookshop.org/a/101360/9781595589231  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Ganesh Sitaraman joins us today to discuss his new book, Why Flying Is Miserable And How to Fix It. Air travel has become an increasingly frustrating experience, with countless horror stories of cancellations, delays, lost baggage, cramped seats, and poor service. For most of the 20th century flying was luxurious and fun, so it’s especially baffling that air travel is plagued by these problems in the 21st century. Sitaraman delves into the reasons behind this dismal state of affairs, tracing it back to a deliberate choice made by elected leaders in the 1970s to roll back regulations, supposedly in order to increase competition and improve the experience of flying for everyone. After enduring half a century of turbulence caused by deregulation, people are fed up with the state of air travel, and Sitaraman gives us some insight into how we can begin to fix it. Ganesh Sitaraman is a law professor and the director of the Vanderbilt Policy Accelerator for Political Economy and Regulation. He was previously a senior advisor to Senator Elizabeth Warren on her presidential campaign and is a member of the Administrative Conference of the United States and the FAA’s Commercial Space Transportation Advisory Committee. Sitaraman is the author of several influential books, including "The Crisis of the Middle-Class Constitution," "The Public Option: How to Expand Freedom, Increase Opportunity, and Promote Equality," and his most recent book, “Why Flying Is Miserable And How to Fix It.” Twitter: @GaneshSitaraman Why Flying Is Miserable And How to Fix It https://bookshop.org/a/101360/9798987053584  Book Website https://globalreports.columbia.edu/books/why-flying-is-miserable/ 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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Democracy https://bookshop.org/book/9780691228976  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://rooseveltinstitute.org/publications/sea-change  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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.  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Walsh is 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 Cohen is 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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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. This episode originally aired on May 24, 2022. 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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://rooseveltinstitute.org/publications/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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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. Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

“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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Documentary https://americonned.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Rich: https://www.bloomberg.com/news/features/2019-05-23/the-wealth-detective-who-finds-the-hidden-money-of-the-super-rich Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://prospect.org/economy/2023-02-09-biden-middle-out-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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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/   Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Broke https://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    Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Lehner is 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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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/  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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    Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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! Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 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 Abortion https://www.nber.org/papers/w26662 The Turnaway Study https://www.ansirh.org/research/ongoing/turnaway-study  Website: https://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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’ https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html 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 Website: https://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://capitalandmain.com/for-americas-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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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   Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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.   Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://ilsr.org/rolling-back-corporate-concentration-how-new-federal-anti-merger-guidelines-can-restore-competition-and-build-local-power Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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   Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://www.phenomenalworld.org/analysis/crisis-of-non-repayment A Middle-Out Education https://civicventures.substack.com/p/a-middle-out-education  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://www.americanprogress.org/article/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 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: https://pitchforkeconomics.com  Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Website: https://pitchforkeconomics.com  Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: https://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: https://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: https://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick's twitter: @NickHanauer

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/ Website: https://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 Website: https://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://campaigntoendqualifiedimmunity.org Website: https://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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/  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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.  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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  Pay Up https://www.simonandschuster.com/books/Pay-Up/Reshma-Saujani/9781982191573  House Resolution 121 https://www.congress.gov/bill/117th-congress/house-resolution/121   Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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/  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 https://press.princeton.edu/books/hardcover/9780691167381/thinking-like-an-economist  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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 & Inclusion https://www.sdg16.plus/delivering-equality-and-inclusion  Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer