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Why restaurants can’t find workers (with restaurateur Mark Bucher)

DC restaurateur Mark Bucher explains what’s behind the “labor” shortage (hint: it’s the wages), the role that restaurant owners need to play in stopping the “churn and burn” model of low-wage workers, and the future of the restaurant industry post-Covid.

Mark Bucher is the co-owner of Medium Rare, a decade-old steakhouse with three locations in D.C., Arlington, and Bethesda. During the pandemic, he established “Feed the Fridge”, a project that places refrigerators around the DC metro area and pays local restaurants to fill them with fresh meals daily

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What convinces people to act in the interest of others? (with Margaret Levi)

What does it take for someone to act in the interest of others? What constitutes trust in general, and trust in government in particular? Margaret Levi, a professor of political and behavioral sciences, shares her research on how people can be persuaded to act in the interest of others if they don’t already want to. The conversation covers vaccines, unions, citizen confidence in government, and a lot more.

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How Covid shook the world’s economy (with Adam Tooze)

There have been far more lethal pandemics than Covid-19, but the scale of our response to Covid-19 is dramatically new. For the first time in human history, our civilization made a collective decision to shut much of the world economy down. Contemporary historian Adam Tooze helps us understand what happened, why it happened, and how we can learn from it.

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Why is the child tax credit good economic policy? (with Wendy Bach)

Everything you need to know about what the expanded child tax credit actually is, why it’s good policy, and how it will impact people’s lives.

Wendy Bach is a Professor of Law at the University of Tennessee, Knoxville. She is a nationally recognized expert in poverty law.

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How the credit market drives up housing prices (with Redfin CEO Glenn Kelman)

What’s the next generation of access to credit? Why are home prices and rents so out-of-whack with each other? And how can we approach the discord between what liberals say they want for their community versus what housing and development policies they’ll actually support? Glenn Kelman, the CEO of real estate brokerage website Redfin, helps us examine the future of housing and the best ways that companies like his can contribute to solving the housing crisis.

And if you’re wondering why this episode sounds so good, or why nobody mentions the pandemic… it’s because this conversation is from our archives of interviews that we recorded in-studio, just before the pandemic hit. But don’t let that discourage you—this is still just as relevant today as the day it was recorded. Enjoy!

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Ask Nick Anything, continued!

Is inflation bad? What’s the difference between a neoliberal and a conservative? If large corporations were held to higher labor standards than small employers, wouldn’t Walmart get all the talent? And more.

Thanks to Mark from Nashville, David from Japan, Mike from Dallas-Fort Worth, Mary from Pennsylvania, Steve from Austin, and Pete from Boston, who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334.

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Everything you need to know about the Frito-Lay Strike (with KS Rep Jason Probst)

Workers at a Frito-Lay factory in Topeka, Kansas made national headlines when they went on strike to protest dismal labor conditions including forced overtime and 84-hour workweeks. (Frito-Lay’s parent company, PepsiCo, made $10.5 billion in profit last year.) The strike ended after 19 days on July 26th, but it’s an important part of a national conversation about labor and corporate profits. Kansas state Representative Jason Probst joins the show to explain the details of the strike and how these insidious labor practices affect his state’s economy.

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Ask Nick Anything

Nick and Goldy answer your questions! If we had progressive taxation, would we still need means testing? Can we send ultra-rich people away to their own economy? What are the best economic indicators for the progressive economy? And more!

Thanks to Lisa from Indianapolis, Rick from Baltimore, Jacob from Portland, Sean from Philadelphia, Linda from Seaside, and Frank from Georgia who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334.

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Fiscal policy can help save the environment (with Sarah Bloom Raskin)

Can we create transformative climate outcomes by adopting new regulatory strategies? Financial regulation expert Sarah Bloom Raskin helps us explore what levers exist to steer fiscal and monetary policy toward lasting sustainability.

Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She served as the Commissioner of Financial Regulation for the State of Maryland from 2007 to 2010. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee, which recommends changes in fiscal, monetary, and financial regulatory policies that are likely to enable the U.S. to achieve net carbon neutrality before 2050.

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We all do better when we all do better (with JP Julien)

Contrary to fears that economic inclusion must come at the expense of economic growth, global management consulting firm McKinsey & Company’s research and empirical evidence supports the idea that economic growth is at its best when it is most inclusive – but that equity needs to be embedded in systems from the start in order to be effective. What does ‘inclusion’ mean in the context of an economy that works for everyone? McKinsey’s JP Julien explains how policymakers and companies can ensure that economic growth goes hand-in-hand with – and is enhanced by – reducing inequality.

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

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Chipotle CEO Brian Niccol is a trickle-down clown

You probably saw the news that Chipotle is raising its menu prices by 4 percent, and that leadership is blaming the price increase on the fact that they had to raise their starting pay to $15 per hour. It’s not at all surprising to see a large employer like Chipotle blame rising wages for everything, but what was disappointing was the media’s willingness to repeat Chipotle’s story without looking deeper into the numbers: namely, none of the stories covering the price increases mentioned that Chipotle gave its CEO a $24 million raise last year, and that the company is in the middle of enacting a $153 million stock buyback program to enrich a handful of shareholders. Around here, that type of trick will land you the title of Trickle-Down Clown! This week Goldy has a few choice words to say about Chipotle’s behavior, and then we thought it would be a good time to revisit our stock buybacks episode with Senator Cory Booker for an explanation of the pervasiveness and dangers of the practice.

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Inequality is bad for everyone (with Djaffar Shalchi)

We’re back to our favorite topic this week—TAX THE RICH! Beyond all the benefits that come from a well-funded social safety net, taxing the wealthy would lessen inequality, which would make most people—including the extravagantly wealthy—happier. Super-rich Danish entrepreneur Djaffar Shalchi shares the wisdom that Denmark understands: Inequality is bad for everyone.

Djaffar Shalchi is an entrepreneur from Denmark and founder of Millionaires for Humanity, a network of wealthy people who advocate for raising taxes on wealthy people. He is also the founder and Executive Director of Move Humanity, a global initiative to mobilize at least one percent of the wealth of the world’s super-rich for the UN’s Sustainable Development Goals.

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How U.S. policy was designed to suppress wages (with Larry Mishel and Josh Bivens)

Radical and rising economic inequality is no secret — and now, thanks to new research from the Economic Policy Institute, neither is its price tag nor its cause. There’s never been a study quite like this — one which places specific, real dollar amounts on every trickle-down policy American politicians have embraced. The study’s authors, Larry Mishel and Josh Bivens, explain how their work  reveals that the massive upward redistribution of income our nation has suffered these past four decades can largely be attributed to policies intentionally designed to suppress the wages of American workers.

Lawrence Mishel is a distinguished fellow at EPI after serving as president from 2002-2017. In the more than three decades he has been with EPI, Mishel has helped build it into the nation’s premier research organization focused on U.S. living standards and labor markets.

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It’s not a labor shortage, it’s a wage shortage (with Heidi Shierholz)

You have no doubt seen the scary headlines warning of a “labor shortage” caused by the additional pandemic unemployment insurance payments. The coverage of this story is widespread, even though most economics reporters can find no credible evidence linking unemployment checks to a labor shortage. EPI economist Heidi Shierholz joins us to explain why UI and stimulus payments aren’t causing a “labor shortage”, and why the answer to this made-up problem is so clear: it’s the low wages, stupid.

Heidi Shierholz is the Senior Economist and Director of Policy at the Economic Policy Institute.

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Your non-compete clause is probably illegal (with WA Attorney General Bob Ferguson)

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

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

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Why we need a mission-driven economy (with Mariana Mazzucato)

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

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

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Can businesses help repair society? (with Ben & Jerry)

Can business leaders use their power and resources to make meaningful change? Should they? Ben Cohen and Jerry Greenfield, the founders behind iconic ice cream brand Ben & Jerry’s, help map the landscape between business and activism and introduce their new project, the Campaign to End Qualified Immunity.

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

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There’s no such thing as a race-neutral policy (with Valerie Wilson)

EPI economist Valerie Wilson joins us for a conversation about the economic costs of racism, and which policies could help further racial equality.

Valerie Wilson is the Director of the Program on Race, Ethnicity, and the Economy at the Economic Policy Institute. Prior to joining EPI, she was an economist and vice president of research at the National Urban League Washington Bureau.

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Diving into March’s giant jobs report (with Austan Goolsbee)

The latest monthly report from the Bureau of Labor Statistics showed massive gains in March—the strongest in seven months—indicating that economic growth is gaining speed. Economist Austan Goolsbee explains why he’s optimistic, what kind of numbers we need to keep seeing to realize a full recovery, and how the report proves that even though some think high unemployment insurance payments will disincentivize people from returning to work, a lack of jobs is actually what’s driving unemployment rates.

Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet.

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Winning back our freedom from the market (with Mike Konczal)

The relationship between time, work, and freedom has always been a battleground in the American economy. Could our devotion to free-market fundamentalism in fact be making Americans less free? Author Mike Konczal joins the show to talk about positive versus negative freedom and the policies that would make us more free, in a real sense.

Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute. His latest book is Freedom from the Market: America’s Fight to Liberate Itself from the Grip of the Invisible Hand.

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Atlas Hugged (with David Sloan Wilson)

If you’re one of the many people who have asked us to take down the concepts in Atlas Shrugged, which argues that we’re a fundamentally selfish species, this episode is for you! If you’re not one of those people, well, this episode is ALSO for you! Evolutionary biologist David Sloan Wilson has infused the idea of prosociality (the desire to help others) into his new book, Atlas Hugged, and he joins us to explain why Atlas Hugged is a better predictor of how people act than Atlas Shrugged.

David Sloan Wilson is an evolutionary biologist and SUNY Distinguished Professor of Biology and Anthropology at Binghamton University. His books include This View of Life: Completing the Darwinian Revolution and the recently published Atlas Hugged.

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Can’t stop, won’t stop, GameStop (with Congressman Ro Khanna)

When GameStop’s stock skyrocketed early this year, Wall Street was pissed. A group of Redditors had manipulated the stock market—and everyone knows only professional hedge fund managers are allowed to do that! We couldn’t ignore the market news that took the world by storm, so Nick and Goldy called up CA Congressman Ro Khanna to talk about what happened with GameStop, what it means for financial regulations, and what the government’s response signals about a changing tide in our country’s leadership.

Congressman Ro Khanna is a Representative of California’s 17th District. Rep. Khanna sits on the House Committees on Agriculture, Armed Services, and Oversight and Reform. He is the Deputy Whip of the Congressional Progressive Caucus; serves as an Assistant Whip for the Democratic Caucus and is the Democratic Vice Chair of the House Caucus on India and Indian Americans.

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No, the relief bill won’t cause inflation (with Austan Goolsbee)

This weekend, the Senate passed the coronavirus relief bill—and the House is scheduled to debate the bill, and widely expected to pass it, on the day this episode is published (Tuesday, March 9th). While the Senate debated what would be the largest disaster-relief legislation in American history, moderate Democrats and ultra-conservative Republicans alike repeated one common criticism—that infusing so much money into the economy would cause inflation. Austan Goolsbee, past Chairman of the Council of Economic Advisers, explains why those fears are misplaced in this episode that will answer every question you’ve ever had about inflation, stimulus checks, and disaster relief.

Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served in Washington as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet. 

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The idea for a National Investment Authority, explained (with Saule Omarova)

Tackling existential threats to our future like climate change and economic inequality is a huge undertaking, and building the future is going to require massive public investment. Cornell Law Professor Saule Omarova calls for a National Investment Authority that would work inside private markets as a soup-to-nuts problem-solving operation.

Saule Omarova is the Beth and Marc Goldberg Professor of Law at Cornell Law School. She specializes in financial sector regulation, banking law, international finance, and corporate finance.

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The velocity of money (with Ann Pettifor)

Over the last century, the velocity of money—the rate at which money changes hands through the economy—has declined. Today, money moves at one of the slowest rates on record, meaning every dollar today generates 70% less economic activity than a dollar did just ten years ago. That has big implications for our economy. Political economist Ann Pettifor joins Nick and Goldy to explain how the velocity of money is related to money creation, and why taxing the rich is ultimately pro-growth (it’s all related, we promise!).

Ann Pettifor is a political economist, author, and public speaker, and the Director of PRIME (Policy Research in Macroeconomics). Her work focuses on the global financial system, sovereign debt restructuring, international finance, and sustainable development. She is the author of many books, including The Production of Money and The Case for the Green New Deal.

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Re-post: Does the market pay you what you’re worth? (with Marshall Steinbaum and Saru Jayaraman)

The theory of marginal product of labor says that every worker is paid exactly what they’re worth—the value that their labor generates. Employers cite marginal productivity to legitimize paying the lowest wages possible, but that’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman expose the lie of marginal productivity, and show how it’s been used to exploit workers for centuries.

Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow of Higher Education Finance at the Jain Family Institute. He studies market power in labor markets and its policy implications.

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What’s the deal with the CBO report?

The big news in the minimum wage world this week is the brand new CBO report—which, among many benefits, also found that a $15 federal minimum wage would cost jobs, increase the deficit, and raise prices. How can that be, when most modern minimum wage studies suggest the opposite? Goldy and Paul explain how CBO arrived at their numbers.

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Repost: How to spot a bogus minimum wage study (with Ben Zipperer)

Here’s another resource from the archive that will help you wade through the loud and often misleading coverage of the Raise the Wage Act.

Not all minimum-wage studies are equal. Some of the most headline-grabbing negative reports on the effects of the minimum wage were commissioned and promoted by right-wing organizations looking to legitimize trickle-down policies that hurt workers. How can you spot studies that aren’t worth their salt? Economist Ben Zipperer joins Nick and Jasmin to reveal some of the tricks that economists pull, and to help us understand how some studies can conclude that raising wages will kill jobs—even though, as we know, the opposite is true.

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Do wealthy Americans have too much power? (with Thom Hartmann)

Is the U.S. an oligarchy, or does it just have a bunch of super-rich people living in it? Is there a difference? Author Thom Hartmann joins Nick and Paul to explain the relationship between wealth and American political power and share some of the research that went into his latest book, ‘The Hidden History of American Oligarchy.’

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Repost: Why raising the minimum wage doesn’t raise unemployment (with Mayor Eric Garcetti and Alan Krueger)

You may have noticed that the trickle-downers are out in full force again spouting bad ideas in response to the Raise the Wage Act, which will raise the federal minimum wage to $15/hour. To set the record straight, we’re reposting one of our first-ever episodes, from early 2019, that reveals what the research proves (no, raising the minimum wage doesn’t affect employment), and asks why changing public perception around the minimum wage has been so difficult.

Eric Garcetti is the Mayor of LA, where he signed a $15 minimum wage ordinance into law in 2015.

The late Alan Krueger was a leading labor economist best known for his work on the effects of the minimum wage.

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How can Democrats win back rural America? (with Bill Hogseth)

Democrats used to win elections in rural areas, but that seems like a distant memory now. This week, Zach is joined by Bill Hogseth, a political organizer from rural Wisconsin, to talk about the difference between making promises and delivering change—and how Democrats can win rural America back again.

Bill Hogseth is a political organizer from rural Wisconsin, where he works for the Wisconsin Farmers Union. He is the former Chair of the Dunn County Democrats.

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The economic challenges Biden faces (with Idrees Kahloon)

Idrees Kahloon from The Economist joins us for inauguration week to assess the daunting economic challenges that the Biden-Harris administration will face the second they take office.

Idrees Kahloon is the Washington correspondent for The Economist. He covers US policy, poverty, and COVID-19 stimulus packages.

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The case for a True New Deal (with Bharat Ramamurti)

In a recent report, The Roosevelt Institute called for a new set of policies to mitigate the economic suffering caused by the pandemic. Taken all together, these policies are as sweeping as the New Deal was—but unlike the New Deal, they’re truly representative of America’s race, class, and gender diversity. Attorney Bharat Ramamurti, the incoming Deputy Director of the Biden administration’s National Economic Council and a co-author of the report, joins Nick and Jessyn to make the case for a True New Deal.

Bharat Ramamurti is the incoming Deputy Director of the National Economic Council. At the time of our interview, he was the managing director of the Corporate Power Program at the Roosevelt Institute and a member of the COVID-19 Congressional Oversight Commission. He was previously an economic advisor to Senator Elizabeth Warren.

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How banking deregulation makes you unsafe (with Anat Admati)

No matter what some politicians may claim, there’s actually no such thing as ‘less regulation’ — there are only regulations that favor the powerful, and those that don’t. Stanford economist Anat Admati walks us through the deregulation of the banking industry and explains how she would overhaul financial regulations to make them work well for society, not just for the rich and powerful.

Anat Admati is the George G.C. Parker Professor of Finance and Economics at Stanford University Graduate School of Business, a director of the Corporations and Society Initiative, and a senior fellow at Stanford Institute for Economic Policy Research. She has written extensively on information dissemination in financial markets, portfolio management, financial  contracting, corporate governance, and banking. She is the co-author of ‘The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It’.

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Tax me more, I’m rich (with Abigail Disney and Chye-Ching Huang)

Trickle-down economics would have you believe that the rich are job creators. For decades we’ve been told that the more money the wealthy have to invest in creating jobs, the better the economy will be for everybody. This lie has had catastrophic effects: the top 0.1% of Americans now own more wealth than the bottom 90% of Americans combined. As debates rage among our leaders over stimulus bills and Americans battle their way through this economic crisis, the case for taxing the wealthy has never been as strong as it is now—so this week we’re re-surfacing this episode, originally published in 2019. Class traitor Abigail Disney and tax expert Chye-Ching Huang make the case for taxing the rich.

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Why should we cancel student debt? (with Fenaba Addo)

The CARES Act delayed student loan payments as a form of stimulus, raising an important question: if forgiving student loan debt is good policy and broadly popular with Americans, should we just cancel student debt altogether? University of Wisconsin Madison Associate Professor Fenaba Addo, who researches debt and wealth inequality, helps us explore the merits and shortcomings of student debt cancellation.

Fenaba Addo is the Lorna Jorgensen Wendt Associate Professor of Money, Relationships, and Equality at the University of Wisconsin Madison. Her research examines the role of debt and increasing wealth inequality over the past forty years within communities of color and among economically vulnerable populations in the U.S.

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Why conventional wisdom is finally pushing for higher wages (with Binyamin Appelbaum)

Six years after the beginning of the Fight for $15 movement, conventional wisdom is finally waking up to economic reality. How do we know? Because the New York Times recently published an editorial titled ‘Let’s Talk About Higher Wages’ calling on the incoming Biden administration to focus on higher wages for everyone. They couldn’t be more right on. Binyamin Appelbaum, the lead writer on business and economics for the Editorial Board, helps us understand the change in consensus on wages.

Binyamin Appelbaum is the lead writer on business and economics for the Editorial Board of The New York Times. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy. His book, ‘The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society’ is a Wall Street Journal Business Bestseller.

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Author Interview: Competition is Killing Us (with Michelle Meagher)

Neoliberal economics says free trade is always good, and its followers try to lower trade barriers without discretion. Freedom is an essential ingredient for successful international trade—but that doesn’t mean all trade should be unregulated. Competition law expert Michelle Meagher joins Goldy to debunk common competition myths and talk about strategies to hold powerful monopolies accountable.

Michelle Meagher is a Senior Policy Fellow at the University College London Centre for Law, Economics, and Society, and co-founder of the Inclusive Competition Forum, a think tank focused on democratizing corporate power and the enforcement of competition law.

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Restoring conservative economics (with Oren Cass)

“Conservative economics” in the U.S. has become synonymous with libertarian principles. But that’s not what American conservatism was originally about. Oren Cass, the executive director of a new think tank called American Compass, is on a mission to restore conservative economics to its roots in family, community, and industry—and he joins Nick and Goldy to find common ground.

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’.

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What happens when unemployment benefits run out? (with Ioana Marinescu)

Right now, 26.3 million workers are either on unemployment or waiting to be approved for unemployment benefits. But for many of these jobless workers, the clock is running out on their eligibility to receive unemployment — and with no stimulus bill in sight, we could be entering a grim new phase of this recession. What will happen to the economy when unemployment insurance runs out? What will happen to the people who rely on those benefits? Economist Ioana Marinescu helps Nick and Goldy understand what the near-future of unemployment benefits looks like in the U.S.

Ioana Marinescu is an assistant professor at the University of Pennsylvania School of Social Policy & Practice, and a Faculty Research Fellow at the National Bureau of Economic Research. She studies the labor market to craft policies that can enhance employment, productivity, and economic security.

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Who is Ron Klain?

In the first major staffing announcement of his incoming administration, President-elect Biden named Ron Klain, Obama’s ebola czar, as his chief of staff. We had a great conversation with Klain back in April, in which he argued that leadership failure and government unpreparedness made the pandemic much worse in the U.S. Now’s a great time to refresh yourself on this episode if you’re wondering how the Biden-Harris administration will respond to the coronavirus and approach wide-spread economic recovery.

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The case for a millionaires tax (with Governor Phil Murphy)

This September, New Jersey Governor Phil Murphy enacted a budget deal with his legislature that increased state taxes on incomes over $1 million. As the country’s second-richest state, this is a big win for progressive taxation. Governor Murphy explains what the tax revenue will go to, how it won’t hurt businesses or cause wealthy people to leave the state, and why it’s the right thing to do in the midst of a national economic crisis .

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Election Day AMA Special (with Cristina Uribe)

When are we going to know the results of this election? What can we do about voter suppression? And are Democrats finally giving up on trickle-down economics? Zach and political strategist Cristina Uribe answer these questions and more as they discuss what this election means for our economy and the health of our democracy.

It’s not too late to vote! If you’re unsure how, go to vote.org. And if you already voted by mail, track your ballot and make sure it was accepted!

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The real looting in America (with Robert Reich)

The real looting in America is the looting of the wages and savings of the bottom 90% by the wealthiest 1%. And although it’s not in the news nearly as much as other types of looting recently, our rigged economic system causes far more harm to our society. Former Secretary of Labor Robert Reich joins Nick and Jessyn to explain who rigged the system, and what it will take to stop the real looting.

To contact your elected leaders about the transfer of $50 trillion over the past 45 years from working Americans to the top 1%, text RAND to 67076 or go to www.civicaction.com/rand.

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The pro-business case for reimagining capitalism (with Rebecca Henderson)

Harvard Business School professor Rebecca Henderson tells Nick and Goldy why businesses should reject the idea that the sole purpose of the corporation is to maximize shareholder value, and how businesses can help reform the market system.

Rebecca Henderson is a professor at the Harvard Business School, a research fellow at the National Bureau of Economic Research, and a fellow of both the British Academy and the American Academy of Arts and Sciences. She is an expert on innovation and organizational change, and her research explores the degree to which the private sector can play a major role in building a more sustainable economy.

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Author Interview: How to rebuild the middle class (with Jim Tankersley)

Why did the American middle class boom after WWII, and how do we get it booming again? New York Times economics reporter Jim Tankersley joins Paul to lay out the thesis of his new book, ‘The Riches of This Land’—that the economy will thrive when everyone can fully participate in it.

Jim Tankersley covers economic and tax policy for The New York Times. Over more than a decade covering politics and economics in Washington, he has written extensively about the stagnation of the American middle class and the decline of economic opportunity in wide swaths of the country.

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The future of health care (with Abdul El-Sayed)

This week, Biden-Sanders unity task force appointee Dr. Abdul El-Sayed walks Nick and Goldy through the Biden transition team’s health care plan.

Abdul El-Sayed is a physician, epidemiologist, public health expert, and progressive activist. He is the Chair of Southpaw Michigan and a contributor at CNN. He is the author of ‘Healing Politics’ and the co-author of the upcoming ‘Medicare for All: A Citizen’s Guide’. He also hosts “America Dissected,” a podcast by Crooked Media.

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The powerlessness of forced labor (with Suresh Naidu)

This week, labor market economist Suresh Naidu explains how his field attempts to account for the influence of power while studying employee/employer relationships, and unveils the hidden tricks of the coercive labor market.

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

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Inequality is costing workers $50 trillion (with Carter Price)

Yesterday, a groundbreaking study by the RAND Corporation put the first-ever price tag on how much income inequality costs American workers. The bill? $50 trillion. You read that right: $50 trillion has been diverted from working Americans to the wealthiest 1% since 1975. To make sense of this staggering number, Nick and Goldy are joined by mathematician Carter Price, the study’s co-author.

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Redefining rural America (with Olugbenga Ajilore)

Economist Olugbenga Ajilore explains how policymakers should be thinking about rural America (it’s not a monolith), and what interventions we should pursue to provide what he calls a “different kind of help.”

Olugbenga Ajilore is a senior economist at the Center for American Progress. His expertise includes regional economic development, macroeconomic policy, and issues in diversity and inclusion.

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Coercion in the workplace (with Elizabeth Anderson)

What would the workplace look like if workers were truly free? Elizabeth Anderson, a leading theorist of democracy and social justice, joins Nick and Goldy for an exploration of the ethical limits of market, theories of value and rational choice, and true freedom.

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

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Winning on growth (with Michael Linden)

In this special bonus episode, Zach talks to political expert Michael Linden about the message that progressives can, and must, hammer home to win.

Michael Linden is the Executive Director of the Groundwork Collaborative, an organization working to advance an economic vision for strong, broadly shared prosperity and true opportunity for all.

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Author Interview: Money, Democracy, and the Life of John Maynard Keynes (with Zachary Carter)

Neoliberalism arose in the 1970s as a response to the failure of Keynesianism to deal with the effects of stagflation. But what is Keynesianism—and who is John Maynard Keynes? In this author interview, Goldy learns from the Keynes expert, HuffPost senior reporter Zachary Carter, how Keynes’ idea defined American liberalism for much of the 1900s.

Zachary Carter is a senior reporter at HuffPost, where he covers economic policy and American politics. He is the author of the New York Times bestseller, ‘The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes’.

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A long walk off a short economic cliff (with Trevon Logan)

Recessions are inevitable—but the complete economic catastrophe that we’ve experienced for the last five months was not. Professor Trevon Logan explains where we went wrong, debunks myths about the federal unemployment benefit (no, it doesn’t disincentivize people from returning to work!), and calls on Congress to steer us away from this economic cliff.

Trevon Logan is a Professor of Economics and Associate Dean at Ohio State University, and Director of the American Economic Association Mentoring Program. He is also a Research Associate at the National Bureau of Economic Research. He specializes in economic history, economic demography, and applied microeconomics.

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You can’t starve your way out of a recession (with Kitty Richards)

We know that state budget cuts and other austerity policies worsened the 2008 recession and led to a prolonged, uneven recovery. With state and local leaders already clamoring to meet the impending revenue shortfall caused by the COVID crisis, what have we learned, and what can we do differently? In this bonus episode, Paul talks to Groundwork Collaborative strategic advisor Kitty Richards about how states can act now to invest in their residents, bolster their economies, and push back against skyrocketing inequality.

Kitty Richards is a freelance policy consultant and strategic advisor to the Groundwork Collaborative. She has previously worked on federal budget and tax policy at several think tanks, including the Center on Budget and Policy Priorities and the Center for American Progress, and has served as an economic policy staffer on Capitol Hill and in the White House.

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Care work is more valuable than ever (with Kate Bahn)

Child care in the U.S. has been in crisis mode for a long time. It’s wildly expensive for families to afford, and difficult for providers to make ends meet. But now, in the age of COVID-19, even the future existence of child care in America is in doubt. Jessyn and Nick tackle the value of care work, the impossibility of finding affordable child care, and the importance of feminist economics with economist Kate Bahn.

Kate Bahn is the director of labor market policy and economist at the Washington Center for Equitable Growth. Her areas of research include gender, race, and ethnicity in the labor market, care work, and monopsonistic labor markets. Previously, she was an economist at the Center for American Progress. Bahn also serves as the executive vice president and secretary for the International Association for Feminist Economics.

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It’s time to stop relying on crisis legislation (with Lindsay Owens)

In 12 years, we’ve seen two economic crises with devastating long-term impacts. It seems by now we should be prepared to expect the unexpected… but instead, we’re relying on hastily prepared crisis legislation to save our economy. Again. Economist Lindsay Owens proposes an alternative plan: a standing, off-the-shelf program to stabilize the economy in the event of an economic emergency.

Lindsay Owens is a Fellow at the Great Democracy Initiative, where her writing and research centers on a progressive economic agenda for housing, climate, labor, and healthcare. She previously served as Deputy Chief of Staff and Legislative Director to Representatives Pramila Jayapal and Keith Ellison and as Senior Economic Policy Advisor to Senator Elizabeth Warren.

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2020 Election AMA (with Cristina Uribe)

It’s less than 100 days until Election Day. What are the chances of political realignment? Is vote-by-mail a panacea? And how can despairing citizens contribute to real change? Civic Ventures President and campaign expert Zach Silk and veteran political strategist Cristina Uribe are joining forces to answer your questions about the 2020 election this week.

Cristina Uribe is a veteran political strategist and manager working at the intersection of advocacy and politics. She has held senior management roles at several organizations, including California Director of the Ballot Initiative Strategy Center (BISC), Senior Advisor for Strategic Initiatives at the National Education Association (NEA), and Western Regional Director at EMILY’s List. She has led campaigns and civic engagement efforts in dozens of states across the country.

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BONUS: Nancy MacLean – Unedited Conversation

Enjoy the full conversation with historian Nancy MacLean, with an extra twelve minutes that didn’t make it into this week’s episode.

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

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How the radical right weaponized ideology (with Nancy MacLean)

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

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

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How Econ 101 upholds racist systems (with Joelle Gamble)

The foundational metaphor of neoliberalism is that a rising tide lifts all boats. But, like many other assumptions in economic thought, that idea willfully ignores racism. Economist Joelle Gamble joins Jessyn and Nick to explain that when economists fail to scrutinize theories through the lens of race, they perpetuate racist outcomes. Plus, The Sadie Collective co-founder Fanta Traore describes how the economics field can deliberate measures to address the exclusion of Black economists.

Joelle Gamble is a principal with the reimagining capitalism team at Omidyar Network, where she focuses on topics related to building the power of working people and shaping a new economic paradigm. Joelle writes on topics of race, labor, and technology, and sits on the board of directors of the Roosevelt Institute.

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There’s no herd immunity to greed (with Thomas Friedman)

Our global system is fragile because we made decisions that made it that way. Where did we go wrong? This week, New York Times columnist Thomas Friedman joins Nick and Goldy to suggest that greed and unfettered globalization are to blame for our vulnerable system, and to discuss what we need to do to get back on track.

Thomas Friedman is a New York Times columnist, the author of six bestselling books, and a three-time Pulitzer Prize winner.

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Debunking deficit myths (with Stephanie Kelton)

Modern Monetary Theory is an attempt to accurately describe how government debt and complex financial systems actually work. MMT can help us responsibly use our resources, and no one is more knowledgeable on the subject than our returning guest this week, Professor Stephanie Kelton. As Congressional debates over the need for a new stimulus package heat up, Kelton explains the myths surrounding MMT and what a new understanding of the budget could do for our economy.

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

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People are basically good (with Rutger Bregman)

The fundamentals of economic thought are built on the idea that humans are fundamentally self-interested. But, according to historian Rutger Bregman, that’s a misconception — in fact, humans are fundamentally good, and if we want to realistically address our greatest challenges, we need to reconsider our view of our own human nature.

Rutger Bregman is a historian. He has published four books on history, philosophy, and economics, including Utopia for Realists and his latest book, Humankind: A Hopeful History.

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Vaccine development needs new incentives (with Tahir Amin)

COVID-19 has exposed the limits of the pharmaceutical market model. This week, patent law expert Tahir Amin joins the show to explain why vaccine development needs new incentives.

Tahir Amin is an attorney dedicated to reshaping patent law to better serve the public. He is the Co-Founder and Co-ED of the Initiative for Medicines, Access, and Knowledge (I-MAK), a global nonprofit organization of attorneys, scientists, and health experts working on systemic changes to intellectual property and the political economy of pharmaceutical innovation.

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Re-imagining public safety (with King County Councilmember Girmay Zahilay)

Budgets are a reflection of our values, and the money we budget for the police is no exception. Our state and local budgets for what we call “safety” are not getting outcomes that reflect our morals. Seattle-area King County Councilmember Girmay Zahilay joins Nick and Jessyn to lay out five policies elected officials should be pledging to support right now to re-imagine public safety.

Girmay Zahilay is a member of the King County Council from District 2. He is an attorney, non-profit founder, and organizer.

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Podcast Blackout

This week, we are participating in #PodcastBlackout to amplify the seriousness of the need for action to address institutional racism and police violence. After a brief note from Nick, this episode will air 8 minutes and 46 seconds of silence. Below, we’ve included organizations that are doing the anti-racist work to reform power structures in this country — we hope that you’ll turn your attention to them.

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Why Wall Street gets a bailout and you don’t (with Matt Stoller)

Why are rich corporations getting more stimulus money from the government, and getting it faster, than small businesses and individuals? Matt Stoller returns to the show to explain how recovery funds are distributed: Money isn’t neutral, and how money travels matters.

Matt Stoller is the author of BIG, a newsletter about monopoly and finance, and the Director of Research at the American Economic Liberties Project. His recent book, ‘Goliath: The 100-Year War Between Monopoly Power and Democracy’, examines how concentrated financial power and consumerism transformed American politics.

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Why the market fails in a crisis (with Joseph Stiglitz)

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the pandemic clearly demonstrates that the markets aren’t the efficient adapters that classic economists believe them to be. Nobel laureate economist Joseph Stiglitz explains why the tendency to believe in the market is one of the most deeply rooted trickle-down myths, and why government intervention is the best way forward through this economic downturn.

Joseph Stiglitz is a Nobel laureate economist and a professor at Columbia University. He is also the co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute. In 2011, Stiglitz was named by Time magazine as one of the 100 most influential people in the world. Known for his pioneering work on asymmetric information, Stiglitz focuses on income distribution, risk, corporate governance, public policy, macroeconomics, and globalization. His most recent book, People, Power, and Profits, was just released in paperback.

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Author Interview: Inside the Secret War on Voting with Thom Hartmann

Paul is joined this week by radio host Thom Hartmann to introduce Thom’s most recent book, ‘The Hidden History of the War on Voting: Who Stole Your Vote and How to Get It Back’. In this poignant interview, Thom explains the strategies and tactics that elites have long employed to disenfranchise American citizens and suppress votes.

Thom Hartmann is a progressive national and internationally syndicated talk show host. Talkers magazine named him America’s most important progressive host and has named his show one of the top ten talk radio shows in the country every year for over a decade. A four-time recipient of the Project Censored Award, Hartmann is also a New York Times bestselling author of twenty-six books, translated into multiple languages.

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Inequality and coronavirus (with Heather Boushey and Michelle Holder)

The burdens of this pandemic are not borne equally. Economists Heather Boushey and Michelle Holder join the show this week to expose how the coronavirus is exacerbating the already-deep inequalities in our society.

Heather Boushey is the President & CEO and co-founder of the Washington Center for Equitable Growth. She is one of the nation’s most influential voices on economic policy and a leading economist who focuses on the intersection between economic inequality, growth, and public policy. Her latest book is Unbound: How Economic Inequality Constricts Our Economy and What We Can Do About It.

Michelle Holder is an Assistant Professor of Economics at John Jay College of Criminal Justice, City University of New York. Prior to joining the John Jay faculty, she worked as an economist for over a decade in both the non-profit and government sectors, including as senior labor market analyst at an 160-year-old nonprofit antipoverty organization where she wrote about labor force and poverty trends in New York City, and as an economist at the Office of the State deputy Comptroller for NYC where she monitored and wrote about trends in the low-wage labor force.

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Austerity will make this recession worse (with Mike Konczal)

When revenues and expenses don’t add up in times of crisis, governments often turn to budget cuts and other austerity measures to balance their accounts. But economists widely agree that the most valuable lesson from the Great Recession is that austerity made the recession worse and slowed down recovery. Mike Konczal joins the show this week to explain why, in a recession, stimulus is particularly powerful and austerity is particularly harmful.

Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute, where he works on financial reform, unemployment, inequality, and a progressive vision of the economy. He is a columnist at Vox, a contributor to The Nation, and a contributing editor at Dissent.

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Labor regulations in the gaming industry (with Jennifer Hale)

Prolific voice actor Jennifer Hale joins Paul and Stephen to discuss her work in two very different fields: the video game industry, which largely isn’t unionized, and the animated film industry, which enjoys strong union protections.

Jennifer Hale is a voice actress known for her work in video game series including Baldur’s Gate, Mass Effect, Halo, World of Warcraft, Spider Man, and many more. In 2013, she was recognized by Guinness World Records as the most prolific female video game voice actor.

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Leadership failure made the U.S. pandemic worse (with Ronald Klain)

Pathogens are inevitable—but the scale of disaster accompanying this pandemic was not. Ronald Klain, President Obama’s Ebola czar, joins Nick and Goldy to discuss why the extent of economic collapse and deaths we’ve seen from COVID-19 is borne of government unpreparedness and leadership failure, not fate. nnRonald Klain is a lawyer who served as the White House Ebola response coordinator for President Obama. He has held a wide variety of legal and policy positions in government, including his service as chief of staff to VPs Biden and Gore, chief of staff to the attorney general, associate counsel to the president, and chief counsel to the Senate Judiciary Committee. He is currently an advisor to the Biden 2020 campaign.nnTwitter: @RonaldKlainnnFurther reading: nConfronting the Pandemic Threat: https://democracyjournal.org/magazine/40/confronting-the-pandemic-threat/nWe’re past ‘if’ on the coronavirus. We’re on to ‘how bad will it be?’: https://www.washingtonpost.com/opinions/the-coronavirus-has-landed-in-the-us-heres-how-we-can-reduce-the-risk/2020/01/22/afebe9ee-3d53-11ea-baca-eb7ace0a3455_story.htmlnTrump says US has coronavirus ‘completely under control’ as Washington state confirms first case outside of Asia: https://www.independent.co.uk/news/world/americas/trump-coronavirus-china-wuhan-disease-outbreak-airport-screening-travel-a9296926.htmlnObama’s ebola czar on what strong federal response looks like: https://www.wired.com/story/ebola-czar-ron-klain-federal-coronavirus-response/nThe huge cost of waiting to contain the pandemic: https://www.nytimes.com/2020/04/14/opinion/covid-social-distancing.htmlnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauernLearn more about your ad choices. Visit megaphone.fm/adchoices

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What’s happening in professional sports right now? (A curiosity break with Andrew Brandt)

What does the future of American sports look like? Okay, okay—we know this is out of our wheelhouse. But this week, we’re examining how the global pandemic has affected one very specific corner of the economy: professional sports leagues. Expert Andrew Brandt lays out the scale of losses due to cancellations in an industry that generates $80 billion a year just in direct revenue for North American leagues—plus several hundreds of billions more in indirect revenue for ancillary businesses (like the folks who staff the arenas). nnAndrew Brandt is Professor of Practice and Executive Director of the Moorad Center for the Study of Sports Law at Villanova Law School. A contributor to ESPN and Sports Illustrated, he is also the host of the ‘Business of Sports’ podcast. nnTwitter: @AndrewBrandtnnClips from CBS Evening News, NBC Sports, and ABC News.nnFurther reading:nThe Coronavirus’s Economic Effect On Sports Could Be Staggering: https://fivethirtyeight.com/features/the-coronaviruss-economic-effect-on-sports-could-be-staggering/nnNearly 75% of Americans Wouldn’t Attend Games If No COVID-19 Vaccine Is Developed, Poll Says: https://www.si.com/sports-illustrated/2020/04/09/poll-sports-coronavirus-returnnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauernLearn more about your ad choices. Visit megaphone.fm/adchoices

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What’s changed since the 1918 pandemic? (A history lesson with Nancy Bristow)

How does our response to the coronavirus pandemic compare to our response 100 years ago, when what is commonly known as the “Spanish Flu” swept through America? Historian Nancy Bristow helps Annie understand the lessons American society learned from the 1918 influenza epidemic, and what we haven’t yet gotten right. nnNancy Bristow is the History Department Chair at the University of Puget Sound, where she teaches twentieth-century American history with an emphasis on race, gender, and social change. She is the author of ‘American Pandemic: The Lost Worlds of the 1918 Influenza Epidemic’. nnTwitter: @univpugetsoundn@NancyKBristownnFurther reading: nAmerican Pandemic on Bookshop.org, an independent site that’s raising money for independent bookstores that are closed during the pandemic: https://bookshop.org/books/american-pandemic-the-lost-worlds-of-the-1918-influenza-epidemic/9780190238551nnOr on IndieBound: https://www.indiebound.org/book/9780190238551nnCities that went all in on social distancing in 1918 emerged stronger for it: https://www.nytimes.com/interactive/2020/04/03/upshot/coronavirus-cities-social-distancing-better-employment.htmlnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauernLearn more about your ad choices. Visit megaphone.fm/adchoices

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Understanding the CARES Act (with Heidi Shierholz)

The Coronavirus Aid, Relief, and Economic Security Act (CARES) is big—but not big enough to protect working people. Economist Heidi Shierholz joins the show to explain where CARES falls short, and to recommend the safeguards we need to include in future bailout packages.nHeidi Shierholz is a Senior Economist and Director of Policy at the Economic Policy Institute. Her team monitors wage and employment policies coming out of Congress and the administration, and advances a worker-first policy agenda. nTwitter: @hshierholzn@EconomicPolicyn(News clip from FOX 17 VXMI)nnFurther reading: nDespite some good provisions, the CARES Act has glaring flaws and falls short of fully protecting workers during the coronavirus crisis: https://www.epi.org/blog/despite-some-good-provisions-the-cares-act-has-glaring-flaws-and-falls-short-of-fully-protecting-workers-during-the-coronavirus-crisis/nnA widening toll on jobs: ‘This thing is going to come for us all’: https://www.nytimes.com/2020/04/02/business/economy/coronavirus-unemployment-claims.htmlnnDoes the stimulus package pass the test? https://civicskunk.works/does-the-stimulus-package-pass-the-test-a070bf4922dcnn3.5 million workers likely lost their employer-provided health insurance in the past two weeks: https://www.epi.org/blog/3-5-million-workers-likely-lost-their-employer-provided-health-insurance-in-the-past-two-weeks/nnNearly 20 million workers will likely be laid off or furloughed by July: https://www.epi.org/blog/nearly-20-million-jobs-lost-by-july-due-to-the-coronavirus/nnThe CARES Act’s aid to state and local governments isn’t enough to shield vital public services from the coronavirus shock: https://www.epi.org/blog/the-cares-acts-aid-to-state-and-local-governments-isnt-enough-to-shield-vital-public-services-from-the-coronavirus-shock-lessons-from-the-great-recession-tell-us-why/nnStates get billions in record stimulus – but say it’s not enough: https://www.politico.com/states/new-york/albany/story/2020/03/26/states-get-billions-in-record-stimulus-but-say-its-not-enough-1269230nnHere are safeguards needed in bailout packages to protect working people and fight corporate greed: https://www.epi.org/blog/any-industry-bailout-package-must-include-meaningful-protections-for-working-people-and-guardrails-against-corporate-greed/nnA portrait of disaster: https://www.epi.org/press/a-portrait-of-disaster-initial-ui-claims-jump-from-211000-to-6-6-million-in-three-weeks/nnPolicymakers twice missed the chance to avert widespread job loss, now they should act to avoid more layoffs: https://www.epi.org/blog/policymakers-twice-missed-the-chance-to-avert-widespread-job-loss-now-they-should-act-to-avoid-more-layoffs/nnCongress “CARES” for wealthy with COVID-19 tax policy provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauernLearn more about your ad choices. Visit megaphone.fm/adchoices

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AMA: COVID-19 and the Economy

How bad will this recession be? Why is Congress bailing out big corporations that had record profits last year? What would happen if stock buybacks were permanently eliminated? This week, Nick and Goldy answer your questions about the economy in the time of COVID-19. nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauernLearn more about your ad choices. Visit megaphone.fm/adchoices

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Killing zombie ideas (with Paul Krugman)

In his latest book, Nobel Prize-winning economist and New York Times columnist Paul Krugman argues that economics has been eaten from within by bad assumptions he calls “zombie ideas.” You’ve encountered these zombies before: the idea that cutting taxes creates growth, or that providing healthcare for an entire country is too expensive. This week, Krugman joins Nick and Goldy in the fight to win economic models back from the neoclassical undead.nPaul Krugman is a professor of economics and international affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, he was the recipient of the Nobel Memorial Prize in Economic Sciences for his work on international trade theory. He is the author or editor of 23 books, including the recently published Arguing with Zombies: Economics, Politics, and the Fight for a Better Future.nTwitter: @paulkrugmannArguing with Zombies: https://www.penguinrandomhouse.ca/books/625526/arguing-with-zombies-by-paul-krugman/9781324005018nWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Disaster Economics

As the world shelters in place from the coronavirus pandemic, an economic crisis is growing. This week, Nick and Goldy pull the curtain back on why trickle-down has made us extra vulnerable to disasters like COVID-19. Our focus always, but especially now, should be on building a more resilient and inclusive economy that can actively protect people from ruin and tragedy. The only limit to our ability to address this crisis is our imagination and our willingness to act. nnFurther reading: nHurricanes hit the poor the hardest: https://www.brookings.edu/blog/social-mobility-memos/2017/09/18/hurricanes-hit-the-poor-the-hardest/nnInsult to Injury: Natural Disasters and Residents’ Financial Health: https://www.urban.org/research/publication/insult-injury-natural-disasters-and-residents-financial-healthnnHow natural disasters can increase inequality: https://www.pbs.org/newshour/economy/making-sense/how-natural-disasters-can-increase-inequalitynnPoverty and Death: Disaster and Mortality 1996-2015: https://reliefweb.int/report/world/poverty-death-disaster-and-mortality-1996-2015nnPoll: Nearly 1 in 5 Households Have Lost Work Because of Pandemic: https://www.npr.org/2020/03/17/817158521/poll-nearly-1-in-5-households-have-lost-work-because-of-pandemicnnMnuchin warns senators of 20% US unemployment without coronavirus rescue, source says: https://www.cnbc.com/2020/03/18/mnuchin-warns-senators-of-20percent-us-unemployment-without-coronavirus-rescue-source-says.htmlnnCoronavirus shock will likely claim 3 million jobs by summer: https://www.epi.org/blog/coronavirus-shock-will-likely-claim-3-million-jobs-by-summer/nnNews clips from CBS News and ABC NewsnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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The federal budget is a theory of growth (with Bob Greenstein)

A budget is a moral document that reflects what we value and prioritize. But to most people, the budget-making process is convoluted and confusing. Budget expert Bob Greenstein joins Nick and Jasmin this week to explain how a budget is made, and how these mind-bogglingly huge numbers impact everyday life. nnBob Greenstein is the Founder and President of the Center of Budget and Policy Priorities, a nonpartisan research and policy institute that analyzes federal budget priorities. Greenstein is considered an expert on the federal budget and a range of domestic policy issues, including anti-poverty programs and various aspects of tax and health care policy. nnTwitter: @GreensteinCBPPn@CenterOnBudgetnnFurther reading: nTrump’s budget will wreak havoc on the American economy: https://www.cnn.com/2020/02/20/perspectives/trump-budget-economy/index.htmlnn2021 Trump Budget Would Increase Hardship and Inequality: https://www.cbpp.org/research/federal-budget/2021-trump-budget-would-increase-hardship-and-inequalitynnNews clips from PBS NewsHour and Bloomberg Politics. nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Welcome to the golden age of white collar crime (with Michael Hobbes)

Why is right now the easiest time in modern history for the wealthy to get away with whatever they want? HuffPost reporter and fellow Seattleite Michael Hobbes joins Zach in the studio for a deep dive into his most recent article about white collar crime. nnMichael Hobbes covers the new economy for HuffPost and is the co-host of the podcast “You’re Wrong About”.  nTwitter: @RottenInDenmarkn@HuffPostnnFurther reading: nThe Golden Age of White Collar Crime: https://www.huffpost.com/highline/article/white-collar-crime/nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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The emerging economic problems of the next decade (with futurist Kevin Kelly)

Pretend every economic problem we’ve ever discussed on this podcast has magically been solved. What’s next? What are the economic problems that we’ll face a decade from now? This week, Nick and Goldy are joined by futurist Kevin Kelly for a conversation based on a voicemail left by Pitchfork Economics listener Cody from Florida. Thanks, Cody!nnYou can call and leave us a voicemail, too—in fact, we would love it if you did! Our number is (731) 388-9334. nnKevin Kelly is Senior Maverick and co-founder at Wired. He has written for The New York Times, The Economist, Science, Time, and The Wall Street Journal among many other publications. His most recent book, The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future, is a New York Times Bestseller. nnTwitter: @kevin2kellynnFurther reading: nnThe Inevitable: https://www.indiebound.org/book/9780525428084nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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From generosity to justice (with Darren Walker)

You can’t talk about philanthropy without mentioning Darren Walker. As the president of the Ford Foundation, Walker has been charged with reimagining one of the largest philanthropic endowments in the world. This week he joins Nick and Jessyn in a conversation about transforming philanthropy to meet the challenges of structural inequality.nnDarren Walker is president of the Ford Foundation. He chaired the philanthropy committee that brought a resolution to the city of Detroit’s historic bankruptcy and is co-founder and chair of the US Impact Investing Alliance. Before joining Ford, Darren was vice president at the Rockefeller Foundation. nnTwitter: @darrenwalker n@FordFoundationnnFurther reading: nnFrom Generosity to Justice: https://www.fordfoundation.org/ideas/ford-forum/the-future-of-philanthropy/from-generosity-to-justice/nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Paul’s Book Review: Democracy in Chains

Democracy in Chains is required reading around the Civic Ventures office, and Paul is happy to explain why it’s earned must-read status. Listen, be convinced, go read! nnDemocracy in Chains: https://www.indiebound.org/book/9781101980965nnPaul’s twitter: @paulconstantnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Debunking economics (with Steve Keen)

We’re continuing the conversation about reimagining capitalism this week with Professor Steve Keen, one of the biggest names in alternative economics. What would society look like if we stopped believing in long-held economic fictions like meritocracy and the equilibrium system? nnSteve Keen has spent his career working to develop an alternative, realistic economics. He is the author of Debunking Economics and the designer of Minsky, an open source dynamic modelling program that makes it possible for anyone to build and understand monetary models of the economy. He was one of the first economists to correctly predict the 2008 financial crisis and its causes. nnTwitter: @ProfSteveKeennnSteve Keen’s work is funded through Patreon: https://www.patreon.com/ProfSteveKeennnnMake sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.comnnnFurther reading: nnDebunking Economics: https://www.goodreads.com/book/show/10303367-debunking-economics—revised-and-expanded-editionnnMinsky download: https://sourceforge.net/projects/minsky/nnInequality, Debt, and Credit Stagnation: https://www.debtdeflation.com/blogs/2016/07/05/inequality-debt-and-credit-stagnation/nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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BONUS: Class warfare in Finland (a history lesson with Tuomas Tepora)

On Tuesday’s episode, Anu Partanen mentioned the Finnish civil war, which divided the country between elite land-owners and the working class. That’s right up our pitchforks alley – so we called an expert, Finnish professor Tuomas Tepora, for a history lesson. nnTuomas Tepora is a lecturer in history at the University of Helsinki. His research deals with a wide variety of topics related to the cultural history of war and the history of emotions. nnTwitter: @TTeporannWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Re-imagining capitalism (with Anu Partanen and Trevor Corson)

Contrary to popular belief, Nordic countries aren’t actually socialist! No, friends, the Nords are capitalists—but they pull it off much better than we do. To help re-imagine American capitalism, writers Anu Partanen and Trevor Corson join us this week all the way from Finland. nnAnu Partanen is a journalist and the author of The Nordic Theory of Everything. The book debunks some of the most common myths about Nordic societies and discusses what the United States might be able to borrow from aspects of Nordic success in the twenty-first century. She has written for The New York Times and The Atlantic.nnTwitter: @anupartanennnTrevor Corson is an award-winning author and editor. His articles and essays have appeared in The New York Times, The Wall Street Journal, The Atlantic, and many more. nnTwitter: @TrevorCorsonnnFurther reading: nnThe Nordic Theory of Everything: https://www.indiebound.org/book/9780062316547nnFinland Is a Capitalist Paradise: https://www.nytimes.com/2019/12/07/opinion/sunday/finland-socialism-capitalism.htmlnnWhat Americans Don’t Get About Nordic Countries: https://www.theatlantic.com/politics/archive/2016/03/bernie-sanders-nordic-countries/473385/nnCapitalism Redefined: https://democracyjournal.org/magazine/31/capitalism-redefined/nnSafe, happy and free: does Finland have all the answers? https://www.theguardian.com/world/2018/feb/12/safe-happy-and-free-does-finland-have-all-the-answersnnMake sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.comnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Voicemails with Goldy

Goldy’s in the studio today answering your questions! Up for debate this time: What’s the line between needing to budget more and just not making enough money? Will raising the minimum wage hurt small, rural businesses? And how is public opinion about the difference between worker and CEO pay changing? nnFind Goldy on Twitter: @GoldyHAnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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The hidden costs of banking while poor (with Mehrsa Baradaran and Cate Blackford)

The average family earning $25,000 a year in the U.S. spends about $2,400 on financial transactions. Whether it’s the astronomical interest rates of a payday loan or the costs that come with being unbanked, the extractive practices of the financial services industry are effectively keeping the poor in poverty. Lawyer and author Mehrsa Baradaran and economic mobility expert Cate Blackford join Nick and Steph this week to explain why banking while poor is so expensive, and what states can do to rein in the people who profit from it. nnMehrsa Baradaran is a professor of law at UC Irvine. She writes about banking law, financial inclusion, inequality, and the racial wealth gap. Her scholarship includes the books How the Other Half Banks and The Color of Money: Black Banks and the Racial Wealth Gap. nnTwitter: @MehrsaBaradarannnCate Blackford is the Director of Outreach and Donor Development at the Bell Policy Center, where she leads the Financial Equity Coalition to eradicate systemic discrimination and hold financial predators accountable. She was the Co-Chair of the 2018 Proposition 111 campaign in CO to limit the interest lenders could charge on payday loans and eliminate fees from payday lending products, which passed with 75% of the vote. nnTwitter: @catetiller @BellPolicynnFurther reading: nnHow the Other Half Banks: https://www.hup.harvard.edu/catalog.php?isbn=9780674983960nnThe Color of Money: https://www.hup.harvard.edu/catalog.php?isbn=9780674237476nnIf the U.S. Government Treated Poor People as Well as It Treats Banks: https://www.theatlantic.com/business/archive/2015/10/if-the-us-government-treated-poor-people-as-well-as-it-treats-banks/410614/nnCO’s Prop 111 explained: https://coloradosun.com/2018/10/22/proposition-111-colorado-2018-explained/nnBriefed by the Bell – Predatory Economy: https://www.bellpolicy.org/2018/09/10/predatory-economy/nnHow Do Payday Loans Work? https://www.incharge.org/debt-relief/how-payday-loans-work/nnMake sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.comnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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How neoliberalism captured Democrats (with James Kwak)

Democrats used to be known as the party of the working people—so how did they get so off track? Who took over the party, and why? Author and professor James Kwak joins Nick and Paul in a blistering analysis of the decline of the Democratic Party, and explains how we can get it back on track. nnNews clips credit: C-SPAN, ProfGP, CNN nnJames Kwak is a professor at the UConn School of Law and the chair of the board of the Southern Center for Human Rights. He is the author or co-author of 13 Bankers, White House Burning, and Economism. His latest book, Take Back Our Party: Restoring the Democratic Legacy, is available for free online at The American Prospect.nnTwitter: @jamesykwaknnRead Take Back Our Party on The American Prospect: nnIntroduction – Restoring the Democratic Legacy: https://prospect.org/politics/take-back-our-party-restoring-the-democratic-legacy/ nnChapter 1 – Their Democratic Party: https://prospect.org/takebackourparty/chapter-1-their-democratic-party/nnChapter 2 – Bad Policy: https://prospect.org/takebackourparty/chapter-2-bad-policy/nnChapter 3 – Bad Politics: https://prospect.org/takebackourparty/chapter-3-bad-politics/ nnChapter 4 – Our Democratic Party: nhttps://prospect.org/takebackourparty/chapter-4-our-democratic-party/

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Paul’s Book Review: Neighborhood Defenders

You’re probably aware of the term ‘NIMBY’, which refers to the folks who show up at their neighborhood meetings to fight development. The ‘Not In My Backyard’ argument is pervasive in urban and rural areas alike, and it’s notorious for impeding much-needed housing reform. This week, Paul recommends ‘Neighborhood Defenders: Participatory Politics and America’s Housing Crisis’, a book that dives into the NIMBY mind and explains the connections between these neighborhood defenders and America’s growing housing crisis. nnPaul’s twitter: @paulconstantnnNeighborhood Defenders: https://www.cambridge.org/core/books/neighborhood-defenders/0677F4F75667B490CBC7A98396DD527AnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Corporate parasites: how taxpayers subsidize profits (with Rana Foroohar and David Dayen)

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies. nDavid Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it. nnNews clips credit: CNBC, KING 5, NPR, Democracy Now!nnRana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us.nnTwitter: @RanaForoohar / @FT / @CNNnnDavid Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His is the author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. nnTwitter: @ddayen / @theprospectnnFurther reading: nnConfronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/nnMakers and Takers: https://www.ranaforoohar.com/makersandtakersnnHow to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishnessnnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Ask Nick Anything (Part 2)

Up this week in listener questions: How much should you tip when you’re using a company credit card? What’s the difference between democratic socialism and the ideas we talk about? Who holds our national debt, and what does that even mean? And more! nnWebsite: https://pitchforkeconomics.com/nTwitter: @PitchforkEconnInstagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Naomi Klein – Unedited Interview

This fall, Naomi Klein joined the show to warn that economic orthodoxy may be the downfall of significant efforts against climate change like the Green New Deal and other big, sweeping reforms we need to combat it. Enjoy our full, unedited conversation with her. nnNaomi Klein is an award-winning journalist and New York Times bestselling author. She is Senior Correspondent for The Intercept, a Puffin Writing Fellow at Type Media Center, and the inaugural Gloria Steinem Chair in Media, Culture and Feminist Studies at Rutgers University. Her most recent book, ‘On Fire: The (Burning) Case for a Green New Deal’, published worldwide in September, was an instant New York Times bestseller and a #1 Canadian bestseller. nnTwitter: @NaomiAKleinnnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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How big pharma keeps drug prices high (with Priti Krishtel and John Arnold)

The American pharmaceutical industry is rigged to make a handful people fabulously wealthy while everyone else gets screwed over. Because of intricate patent laws, we pay double what people in 29 other rich countries pay. Experts and change-makers Priti Krishtel and John Arnold join Nick and Jasmin to explain how we got into this mess (Monopolies! Patent law!), and what we can do about it. nnPriti Krishtel is the Co-Founder and Co-Executive Director of I-MAK, a global organization that works to increase access to lifesaving medicine. A 15-year veteran of the global access to medicines movement, she helped lead the movement to a pivotal moment in treatment access history with the passage of a health-friendly patent law. nnTwitter: @pritikrishteln@IMAKglobalnnJohn Arnold is a former hedge fund manager who, with his wife Laura, now focuses on advocacy through their organization Arnold Ventures. Arnold Ventures has distributed more than $175 million in grants to over 80 healthcare nonprofit organizations, universities, and institutes with the ultimate goal to lower healthcare spending without compromising quality. nnTwitter: @JohnArnoldFndtnnnFurther reading: nnIt’s Time for Pharmaceutical Companies to Have Their Tobacco Moment: https://www.nytimes.com/2019/02/24/opinion/drug-prices-congress.htmlnnA Humira Prescription Costs $38,000 A Year Because Our Patent System Is Being Abused: https://www.huffpost.com/entry/opinion-humira-costs-patents_n_5bd0c893e4b0a8f17ef3961fnnHow Big Pharma Reaps Profits While Hurting Everyday Americans: https://www.americanprogress.org/issues/democracy/reports/2019/08/30/473911/big-pharma-reaps-profits-hurting-everyday-americans/nnComprehensive Reform to Lower Prescription Drug Prices: https://www.americanprogress.org/issues/healthcare/news/2019/01/29/465621/comprehensive-reform-lower-prescription-drug-prices/nnA Supreme Court victory for lowering drug prices: https://thehill.com/opinion/judiciary/385326-why-scotus-ruling-in-oil-states-v-greenes-energy-group-is-a-win-for-workingnnHow a billionaire couple greased the skids for Nancy Pelosi’s drug pricing bill: https://www.statnews.com/2019/11/26/laura-john-arnold-billionaire-greased-the-skids-for-drug-pricing-bill/nnBillionaire Philanthropist John Arnold On Drug Prices: Congress Needs to Act: https://www.forbes.com/sites/denizcam/2018/11/29/billionaire-philanthropist-john-arnold-on-drug-prices-the-congress-needs-to-act/#b6097ee57a25nnMillions in U.S. Lost Someone Who Couldn’t Afford Treatment: https://news.gallup.com/poll/268094/millions-lost-someone-couldn-afford-treatment.aspxnnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Ask Nick Anything (Part 1)

Nick and Goldy are back to answer more of your voicemails! They’re tackling questions about housing, what our economic theory is actually called, portable benefits for gig economy workers, and more. Enjoy, and happy new year!nnResources: nhttps://www.core-econ.org/nnTED Talk reading list: https://www.ted.com/talks/nick_hanauer_the_dirty_secret_of_capitalism_and_a_new_way_forward/reading-list?language=ennnTED Talk references: https://www.ted.com/talks/nick_hanauer_the_dirty_secret_of_capitalism_and_a_new_way_forward/footnotes?language=ennnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Paul’s Book Review: Weapons of Math Destruction

Our resident book nerd Paul Constant is back with another book recommendation. This week, it’s ‘Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy.” Check it out for a greater understanding of how our biases shape the seemingly impartial numbers we use to measure the world. nnPaul’s twitter: @paulconstantnnWeapons of Math Destruction: https://www.indiebound.org/book/9780553418811nnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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What’s the trick in trickle-down? (with Yuval Noah Harari and Molly Crockett)

What is the “trick” in “trickle down” economics? It’s how wealthy elites and their neoliberal lackeys convince you that what’s good for them (tax cuts, deregulation, etc.) is good for you… and that policies like the minimum wage, overtime, and paid sick leave will ruin the economy. Economics is a story we tell ourselves to help explain who gets what, and why. In this episode, which we’re re-issuing for the holidays because it’s just so dang good, we explore how to tell a better story.nnYuval Noah Harari is the author of international bestsellers: Sapiens: A Brief History of Humankind, Homo Deus: A Brief History of Tomorrow, and 21 Lessons for the 21st Century. He is a professor in the Department of History at Hebrew University of Jerusalem. nnTwitter: @yuvalhararinFacebook: @Prof.Yuval.Noah.HararinInstagram: @yuval_noah_hararinnMolly Crockett is the director of the Crockett Lab and an Assistant Professor of Psychology at Yale University. She is also a Distinguished Research Fellow at the Oxford Centre for Neuroethics.nnTwitter: @mollycrockettnnFurther reading:nA threat, not a theory: https://democracyjournal.org/magazine/41/a-threat-not-a-theory/nnTo my fellow plutocrats: you can cure Trumpism: https://www.politico.com/magazine/story/2017/07/18/to-my-fellow-plutocrats-you-can-cure-trumpism-215347nnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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The pitchforks are here (with Cesar Hidalgo)

In nations around the world, people are protesting economic inequality and taking to the streets in political frustration. We said it here first: The pitchforks are coming. This week, Cesar Hidalgo joins Nick and Paul to discuss the unrest in Chile and explain how his political organizing app is helping protestors prioritize the policies they want government to address. nnThe texture piece is courtesy of Gustavo de la Piedra, a listener from Santiago, Chile. The news clips are sourced from the news station France 24.nnCesar Hidalgo is a Chilean-Spanish physicist, author, and entrepreneur. He currently holds an ANITI (Artificial and Natural Intelligence Toulouse Institute) Chair at the University of Toulouse, an Honorary Professorship at the University of Manchester, and a Visiting Professorship at Harvard’s School of Engineering and Applied Sciences. From 2010 to 2019, Hidalgo led MIT’s Collective Learning group. He is known for the creation of the field of Economic Complexity, which uses disaggregate data and network methods to explain and predict economic development dynamics, for his work on the creation of data visualization and distribution systems, and for advancing ideas on the use of Artificial Intelligence in democracy. nnTwitter: @cesifotinnFurther reading: nnThe pitchforks are coming… for us plutocrats: https://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014nn‘Chile Woke Up’: Dictatorship’s Legacy of Inequality Triggers Mass Protests: https://www.nytimes.com/2019/11/03/world/americas/chile-protests.htmlnnGlobal protests share themes of economic anger and political hopelessness: https://www.washingtonpost.com/world/2019/10/25/global-wave-protests-share-themes-economic-anger-political-hopelessness/nnChile announces $5.5 billion economic recovery plan as protests bite: https://www.cnbc.com/2019/12/03/chile-announces-5point5-billion-economic-recovery-plan.html

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Does media have an economics problem? (with Charles Mudede)

Earlier this week, we examined whether journalists live up to their responsibility to discuss economic issues fairly and intelligently. Here, we continue that conversation with Charles Mudede, a local economics reporter here in Seattle. Charles joins Paul to examine the ways that media has let economics down, as well as the deep economic implications of films like Alien and Pretty in Pink. nnCharles Mudede writes about film, books, music, and his life in Rhodesia, Zimbabwe, the USA, and the UK for The Stranger, Seattle’s alternative biweekly newspaper. He is also a filmmaker. nnTwitter: @mudedennFurther reading: nnA Note on the Movie ‘Alien’ and Self-Checkout Machines: https://www.thestranger.com/blogs/slog/2015/02/13/21707530/the-future-of-work-in-the-21st-century-self-checkout-in-a-no-service-economynnPiketty Gives Good Economics: https://www.thestranger.com/seattle/piketty-gives-good-economics/Content?oid=19281392nnAnd viewing: nnCharles Mudede, “Adventures with Thomas Piketty”: https://vimeo.com/channels/smokefarmsymposium/108752151nnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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Does economics have a media problem? (with Matt Gertz)

Most people understand the economy through the news—how it’s doing, what the new laws are, and what experts predict for the future. For better or for worse, that means journalists largely dictate our common knowledge of economics issues. What’s the media’s responsibility as they cover the economy? Media Matters senior fellow Matt Gertz joins Steph and Paul to ponder the question: does economics have a media problem?nnMatt Gertz is a senior fellow at Media Matters, a progressive research and information center dedicated to comprehensively monitoring, analyzing, and correcting conservative misinformation in the U.S. media. Matt’s work focuses on the relationship between Fox News and the Trump administration, news coverage of politics and elections, and media ethics. His writing on the Trump-Fox feedback loop has appeared in The Daily Beast, HuffPost, and Politico Magazine, and he has discussed his analysis on MSNBC, NPR, and Comedy Central.nnTwitter: @MattGertznnFurther reading: nnMedia Matters website: https://www.mediamatters.org/nWho Fact-Checks the Fact-Checkers? https://civicskunk.works/who-fact-checks-the-fact-checkers-da45dc63e00cnnHow local ‘fake news’ websites spread ‘conservative propaganda’ in the US: https://www.theguardian.com/us-news/2019/nov/19/locality-labs-fake-news-local-sites-newspapersnnStudy: Major media outlets show improvement at debunking Trump misinformation on Twitter: https://www.mediamatters.org/donald-trump/study-major-media-outlets-show-improvement-debunking-trump-misinformation-twitternnOur website: https://pitchforkeconomics.com/nOur twitter: @PitchforkEconnOur instagram: @pitchforkeconomicsnNick’s twitter: @NickHanauer

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How monopolies feed plutocracy (with Matt Stoller)

In his new book ‘Goliath’, author Matt Stoller explains how the 2016 election heralded the return of authoritarianism and populism to American politics, due largely to concentrated financial power and rampant consumerism. This week, Matt joins Nick and Goldy for a conversation about creating a new democracy. nnMatt Stoller is the author of ‘Goliath: The Hundred-Year War Between Monopoly Power and Democracy’ and a fellow at the Open Markets Institute. He is a former policy advisor to the Senate Budget Committee, and also worked for a member of the Financial Services Committee in the U.S. House of Representatives during the financial crisis. nnTwitter: @matthewstollernnFurther reading:nnGoliath: https://www.simonandschuster.com/books/Goliath/Matt-Stoller/9781501183089nnHow Democrats Killed Their Populist Soul: https://www.theatlantic.com/politics/archive/2016/10/how-democrats-killed-their-populist-soul/504710/nnTech Companies Are Destroying Democracy and the Free Press: https://www.nytimes.com/2019/10/17/opinion/tech-monopoly-democracy-journalism.htmlnnBoeing’s travails show what’s wrong with modern capitalism: https://www.theguardian.com/commentisfree/2019/sep/11/boeing-capitalism-deregulation

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BONUS: George Monbiot – Unedited Conversation

George Monbiot joined us on our ‘How neoliberalism happened’ episode last month. Enjoy our full, unedited conversation with him!nnGeorge Monbiot writes a weekly column for The Guardian and is the author of a number of books, most recently ‘Out of the Wreckage: A New Politics for an Age of Crisis’. As an investigative journalist and self-described “professional troublemaker,” George uncovers the complicated truths behind the world’s most persistent problems. nnTwitter: @GeorgeMonbiot

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How to make the rich pay their taxes (with Gabriel Zucman)

Tax rates on the wealthy have steadily eroded in the United States over the last forty years, leaving us with an upside-down tax code that benefits the rich. And it’s surprisingly easy for powerful people to evade the taxes that they do owe, which inevitably inspires another round of harsh budget cuts from conservative lawmakers. Gabriel Zucman, the authority on wealth taxes, joins us this week to explain how the rich dodge taxes, and how we can fix the tax system. nnGabriel Zucman is an Assistant Professor of Economics at the University of California, Berkeley. His research focuses on the accumulation, distribution, and preservation of wealth, with a global and historical perspective. He is the author of ‘The Hidden Wealth of Nations: The Scourge of Tax Havens’, and the co-author, with Emmanuel Saez, of the new book ‘The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay’.  nnTwitter: @gabriel_zucmannnFurther reading:nnThe Triumph of Injustice: https://wwnorton.com/books/the-triumph-of-injusticennThe 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

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Economic woman (with Katrine Marçal, Lisa D. Cook, and Anna Gifty Opoku-Agyeman)

We’ve heard all about economic man, but what happened to economic woman? Women are noticeably absent in theoretical economic models and—perhaps not so coincidentally—they’re also massively underrepresented in the field of economics itself. This week, we’re joined by journalist Katrine Marçal and economists Dr. Lisa Cook and Anna Gifty Opoku-Agyeman in an examination of why women are excluded from economics, and what we can do about it. nnKatrine Marçal is a journalist for Dagens Nyheter, Sweden’s most prestigious daily newspaper. Her book Who Cooked Adam Smith’s Dinner? was shortlisted for the August Prize in 2012 and has been translated into 19 languages.nnTwitter: @katrinemarcalnnDr. Lisa D. Cook is an Associate Professor of Economics and International Relations at Michigan State University. Among her current research interests are economic growth and development, financial institutions and markets, innovation, and economic history. As a Senior Economist at the President’s Council of Economic Advisers during the 2011-2012 academic year, Dr. Cook worked on the euro zone, financial instruments, innovation, and entrepreneurship. nnTwitter: @drlisadcooknnAnna Gifty Opoku-Agyeman is a Research Scholar in Economics at Harvard University working at the Blair Economics Lab, a Visiting Research Fellow at the National Bureau of Economic Research, and a pre-doctoral trainee of the NYU/Schmidt Futures Program. She is the co-founder and CEO of The Sadie Collective, a group that supports greater representation of black women in economics and related fields. nnTwitter: @itsafronomicsnnFurther reading: nnWho Cooked Adam Smith’s Dinner? https://www.indiebound.org/book/9781681771427nnOpinion: It Was a Mistake for Me to Choose This Field: https://www.nytimes.com/2019/09/30/opinion/economics-black-women.htmlnnThe Sadie Collective: https://www.sadiecollective.org/our-mission.htmlnnWhy are there so few women economists? https://review.chicagobooth.edu/economics/2019/article/why-are-there-so-few-women-economistsnnWomen’s Economic Agenda: https://www.epi.org/womens-agenda/

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Is economic orthodoxy evolving? (with Luigi Zingales)

‘Chicago School’ is a descriptor often used to signify conventional economic thinking. This week, our friend Luigi Zingales, a finance professor at the Chicago Booth School of Business, joins Nick and Goldy to find out where they agree—and where they disagree. They discuss wealth taxes, health care, student loan forgiveness, shareholder value maximization, the Green New Deal, and more. nnLuigi Zingales is a Professor of Entrepreneurship and Finance and the Director of the Stigler Center at the Chicago Booth School of Business. He is the author of two books: ‘Saving Capitalism from Capitalists’, with Raghuram G. Rajan, and ‘A Capitalism for the People: Recapturing the Lost Genius of American Prosperity’. Luigi is also the co-host of the podcast ‘Capitalisn’t’. nnTwitter: @zingales @zingales_itnnA Capitalism for the People: https://www.indiebound.org/book/9780465085958

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Can we hold big corporations to higher standards? (with Mayor Dave Bieter and E.J. Dionne)

Nick pitches a big idea to the mayor of Boise and political commentator E. J. Dionne: a suite of progressive labor standards that would hold large employers to higher standards nationwide. Is this the way to bring progressive, inclusive economic growth to rural America?nnDave Bieter is the Mayor of Boise, Idaho. Now serving his fourth term, he is the longest serving Mayor in Boise’s history. nnTwitter: @MayorBieternnE. J. Dionne writes about politics in a twice-weekly column for The Washington Post. He is also a government professor at Georgetown University, a visiting professor at Harvard University, a senior fellow in governance studies at the Brookings Institution and a frequent commentator on politics for NPR and MSNBC. He is a New York Times bestselling author, and his newest book ‘Code Red: How Progressives and Moderates Can Unite to Save Our Country’ is out next year. nnTwitter: @EJDionnennFurther reading: nnProgressive Labor Standards: https://democracyjournal.org/magazine/51/progressive-labor-standards/

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Tax me more, I’m rich (with Abigail Disney and Chye-Ching Huang)

Trickle-down economics would have you believe that the rich are job creators—the more money they have to invest in creating jobs, the better the economy is for everybody. This lie has had catastrophic effects: the top 0.1% of Americans now own more wealth than the bottom 90% of Americans combined. Class traitor Abigail Disney and tax expert Chye-Ching Huang are on this week to make the case for taxing the rich. nnAbigail Disney is a documentary filmmaker, philanthropist, and social activist. She is the granddaughter of Roy Disney, the co-founder of the Walt Disney Company.nnTwitter: @abigaildisneynnChye-Ching Huang is the Director of Federal Fiscal Policy at the Center on Budget Policy Priorities, where she focuses on the fiscal and economic effects of federal tax and budget policy. She rejoined the Center in 2011 after working as a Senior Lecturer at the University of Auckland, where she taught tax law and conducted research in tax law and policy. nnTwitter: @dashching CenteronBudgetnnFurther reading: nnFor the first time in history, U.S. billionaires paid a lower tax rate than the working class last year: https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/nnIn Open Letter, Billionaires Co-Sign New Wealth Tax Proposal: ‘Revenue Should Come From the Most Financially Fortunate’: https://time.com/5613228/billionaires-calling-for-wealth-taxes/nnWant to grow the economy? Tax rich people like me: https://www.businessinsider.com/nick-hanauer-defends-wealth-tax-grow-economy-create-jobs-2019-7 nnDisney Heiress Calls for Wealth Tax: ‘We Have To Draw A Line’: https://www.npr.org/2019/06/28/736993245/disney-heiress-calls-for-wealth-tax-we-have-to-draw-a-linennTax Code Can Do More to Narrow Racial Gaps in Income and Wealth: https://www.cbpp.org/blog/tax-code-can-do-more-to-narrow-racial-gaps-in-income-and-wealthnnWealth tax explainer: Why Bernie Sanders, Elizabeth Warren and billionaires like George Soros alike are calling for a specialized tax on the ultra-wealthy: https://www.businessinsider.com/wealth-tax-definition-explained-elizabeth-warren-2019-7nnFundamentally Flawed 2017 Tax Law Largely Leaves Low- and Moderate-Income Americans Behind: https://www.cbpp.org/federal-tax/fundamentally-flawed-2017-tax-law-largely-leaves-low-and-moderate-income-americans nnThe Rich Can’t Get Richer Forever, Can They? https://www.newyorker.com/magazine/2019/09/02/the-rich-cant-get-richer-forever-can-theynnThe Disney heiress who’s begging for a wealth tax says income inequality has created a ‘superclass’ in the US — and it’s putting the American dream at risk: https://www.businessinsider.com/abigail-disney-income-inequality-american-dream-wealth-tax-2019-6nnHow the Federal Tax Code Can Better Advance Racial Equity: https://www.cbpp.org/research/federal-tax/how-the-federal-tax-code-can-better-advance-racial-equity

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Will bad economics kill the Green New Deal? (with Naomi Klein and J.W. Mason)

The only thing holding us back from big, bold, progressive change is ourselves. When critics wonder if we can afford to pay for the Green New Deal, they couch their concerns in the language of neoliberal economics: they say that investing in the middle class, raising wages, and doing too much too quickly will ruin the economy. This week, Naomi Klein and J.W. Mason join us to explain why the economic status quo is the greatest barrier to the Green New Deal becoming a reality, and how we actually can afford to change our economy so drastically. nnNaomi Klein is an award-winning journalist and New York Times bestselling author. She is Senior Correspondent for The Intercept, a Puffin Writing Fellow at Type Media Center, and the inaugural Gloria Steinem Chair in Media, Culture and Feminist Studies at Rutgers University. Her most recent book, ‘On Fire: The (Burning) Case for a Green New Deal’, published worldwide in September, was an instant New York Times bestseller and a #1 Canadian bestseller. nnTwitter: @NoamiAKleinnnJ.W. Mason is a Fellow at the Roosevelt Institute, where he works on the Financialization Project, and an assistant professor of economics at John Jay College, CUNY. His current research focuses on the history and political economy of credit, including the evolution of household debt and changing role of financial markets in business investment. He also works on the history of economic thought, particularly the development of macroeconomics over the twentieth century. nnTwitter: @JWMason1nnFurther reading and resources: nnOn Fire: https://www.indiebound.org/book/9781982129910nnCan We Afford a Green New Deal? http://jwmason.org/slackwire/can-we-afford-a-green-new-deal/nnDecarbonizing the US Economy: Pathways Toward a Green New Deal: https://rooseveltinstitute.org/wp-content/uploads/2019/06/Roosevelt-Institute_Green-New-Deal_Digital-Final.pdfnnA Message from the Future with Alexandria Ocasio-Cortez: https://www.youtube.com/watch?v=d9uTH0iprVQnnWith a Green New Deal, Here’s What the World Could Look Like for the Next Generation: https://theintercept.com/2018/12/05/green-new-deal-proposal-impacts/

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Paul’s Book Review: Kochland

Be still, our hearts—it’s another book review, straight from the glittering literary mind of Paul Constant. This week, Paul recommends the New York Times Bestseller ‘Kochland’ by Christopher Leonard, a deeply reported investigation of Koch Industries’ secretive corporate power, smarmy public influence, and weird libertarian agenda. Plus: literal back-stabbing!  nKochland: https://www.indiebound.org/book/9781476775388 nTwitter: @paulconstantnPaul’s website, The Seattle Review of Books: https://seattlereviewofbooks.com/

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The trade-offs of global trade (with Dean Baker and Port Commissioner Ryan Calkins)

In the 1990s and early 2000s, free trade was considered an unalloyed good. But now, policymakers and economists agree that global trade creates winners and losers—and they acknowledge that we’ve never really tried to fairly compensate the losers. Economist Dean Baker and Seattle Port Commissioner Ryan Calkins help us try to imagine a more equitable way forward on international trade. nDean Baker is a senior economist at the Center for Economic and Policy Research, an organization he co-founded in 1999. His areas of research include housing, consumer prices, intellectual property, trade, employment, Social Security, and Medicare. He is the author of several books, including ‘Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer,’ and his blog, ‘Beat the Press,’ provides commentary on economic reporting. He is currently a visiting professor at the University of Utah. nTwitter: DeanBaker13nRyan Calkins is a Port of Seattle Commissioner specializing in sustainable economic development, ensuring that our region’s prosperity is shared among all of our communities. Commissioner Calkins also works as a nonprofit professional at Ventures, a charitable organization that supports low income entrepreneurs who are starting and growing businesses in the Puget Sound Area.nTwitter: @ryancalkinsSEA

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How neoliberalism happened (with George Monbiot and Binyamin Appelbaum)

It’s trendy to mock the malicious pervasiveness of neoliberalism now, but have you ever wondered what its origins are? This week, George Monbiot and Binyamin Appelbaum join the show to uncover just where the dominant economic theory of our time came from and how it took hold.  nGeorge Monbiot writes a weekly column for The Guardian and is the author of a number of books, most recently ‘Out of the Wreckage: A New Politics for an Age of Crisis’. As an investigative journalist and self-described “professional troublemaker,” George uncovers the complicated truths behind the world’s most persistent problems. nTwitter: @GeorgeMonbiotnBinyamin Appelbaum writes about economics and business for the editorial page of The New York Times. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy in the aftermath of the 2008 crisis. His new book, ‘The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society’ is a Wall Street Journal Business Bestseller. nTwitter: @BCAppelbaumnFurther reading: nOut of the Wreckage: https://www.indiebound.org/book/9781786632890nThe Economists’ Hour: https://www.indiebound.org/book/9780316512329nNeoliberalism – the ideology at the root of all our problems: https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiotnGames Economists Play: http://bostonreview.net/class-inequality/marshall-steinbaum-games-economists-play