Pitchfork Economics with Nick Hanauer

All the economic and social policy that we discuss on this podcast won’t matter if we don’t address climate change. Governor Jay Inslee and Professor Fadhel Kaboub join Nick and Goldy to explain that if we don’t get climate right… well, the pitchforks are coming.  Jay Inslee is the Governor of Washington state. In March of this year, he announced he is running for president on a platform of combat...

Is government debt real? Is anything real? Professor Stephanie Kelton gives Nick and Goldy a master class on the hottest idea in economics right now: Modern Monetary Theory.  Stephanie Kelton is a professor of public policy and economics at Stony Brook University and a senior economic adviser to Bernie Sanders’s 2016 and 2020 presidential campaigns. She was the chief economist on the U.S. Senate B...

For too long, pundits and politicians have talked about the political center as a perfect balance between conservatives and liberals. But this quest for some sort of mythical middle ground between left and right has only succeeded in elevating the interests of the top one percent over everyone else. Congresswoman Pramila Jayapal joins Nick to propose a new way of thinking about centrism: a framewo...

We spoke to Senator Cory Booker about stock buybacks and his Workers Dividend Act in February. We hope you enjoy the full, unedited conversation! Cory Booker is the U.S. Senator from New Jersey and a 2020 Democratic presidential candidate.  Twitter: @CoryBooker

For all our talk about family values, the U.S. is actually the worst place to raise a family in the developed world. Anne-Marie Slaughter and Katie Hamm join Nick and Jessyn to explain how our family policies got stuck in the last century, and what we should do about it.  Anne-Marie Slaughter is the President and CEO of New America, a think and action tank dedicated to renewing America in the Digi...

We’ve established that trickle-down economics and neoliberalism are failed philosophies. But we haven’t yet explored whether economics should be moral - should it reflect our behaviors and preferences, or is it a science that lives separately from our societal norms and values? Heather McGhee joins Nick and Paul to argue that an inclusive economy is not only possible, but imperative to growth.  He...

You’ve definitely heard of the Green New Deal by now, right? Zach and Annie talk it up in this bonus episode and explain why the economic bill of rights component is so important.

In 2009, President Obama signed the Lily Ledbetter Fair Pay Act into law, thereby ensuring that women across the United States were finally paid the same as men. Just kidding! Women still only make 80% of what their male counterparts do. What is this bullshit? Why hasn’t pay equity been achieved yet? Economist Julie Nelson and journalist Claire Cain Miller join Nick and Steph to explain why this p...

We at Pitchfork Economics were saddened to learn of the passing of the brilliant economist Alan Krueger last weekend. We were fortunate to speak with him last year - here’s the full conversation. 

Here are two phrases that should be oxymorons, but aren’t: ‘working poor’ and ‘poverty-level jobs.’ Writer and anti-poverty advocate Hanna Brooks Olsen joins Nick and Goldy to explore how the intense burdens of poverty make it nearly impossible to even think about climbing the economic ladder.  Felicia Wong is the President and CEO of the Roosevelt Institute, a think tank that seeks to re-imagine...

The overtime threshold used to be the minimum wage for the middle class—but where did it go? Labor experts Sharon Block and Chris Lu join Nick and Jasmin to explain why the overtime threshold, which used to cover 65 percent of workers, today covers only 7 percent. That’s craziness! And surprise, surprise—employers love to claim that forcing you to work for free is in your own best interest. But ar...

Ever been in the middle of a Pitchfork Economics pod ep and thought, “WTF are they talking about?” If so, this might help - we define some complex terms that get thrown around a lot (neoclassical, neoliberal, heterodoxy, monopoly, monopsony, and stock buybacks) because we want this to be a fun and informative pod, not, like, a painful and confusing pod. Twitter: @NickHanauer @GoldyHA

Monopoly and its equally evil twin monopsony are destroying competition, depressing wages, and slowing economic growth. Is market concentration an inevitable outcome of capitalism, or is there a smarter solution? Jared Bernstein: Senior Fellow at the Center on Budget and Policy Priorities, former Chief Economist and Economic Adviser to VP Biden and Executive Director of the White House Task Force...

Senator Cory Booker explains the problem with stock buybacks, walks us through his Workers Dividend Act, and offers Goldy some much-needed counseling.  Cory Booker is the U.S. Senator from New Jersey and a 2020 Democratic presidential candidate.  Twitter: @CoryBooker Further reading: https://www.vox.com/policy-and-politics/2018/3/6/17083398/booker-buyback-populist  https://www.theatlantic.com/poli...

Nick, Goldy, and their guests William Lazonick and Lenore Palladino explain why "shareholder value maximization" is the world's dumbest idea.  William Lazonick: Professor of economics at University of Massachusetts Lowell, visiting Professor at University of Ljubljana, professeur associé at Institut Mines-Télécom in Paris, and professorial research associate, SOAS, University of London. His book ‘...

When we talked with historian Yuval Harari, the best-selling author of Sapiens, Homo Deus, and 21 Lessons for the 21st Century, the conversation was so wide-ranging and so smart that we just couldn't bear to leave any of it behind on the cutting room floor. So here's the full, unedited interview on a range of topics including why our society has fallen so hard for the myth of trickle-down economic...

Trickle-downers always argue that raising the minimum wage inevitably kills jobs. But the empirical evidence from Seattle, Los Angeles, and elsewhere prove otherwise. Experts, including Mayor Garcetti of LA, discuss how our economic understanding has changed, and why changing the public perception around the minimum wage has been so difficult. Eric Garcetti: Mayor of Los Angeles since 2013. Former...

Deregulation for the powerful is a central tenet of the trickle-down myth, embraced by Democrats and Republican alike. Government regulations, we’re told, are costly and inefficient intrusions that slow grow and kill jobs. But Robert Reich explains that when thoughtfully applied, regulations are absolutely essential to growing a safe, secure, and broadly prosperous economy.  Robert Reich: Chancell...

Former Starbucks CEO Howard Schultz says he’s seriously considering running for President. Nick Hanauer, who knows Schultz, says that businesspeople often make terrible politicians.

Since forever, Republicans have insisted that cutting taxes on wealthy corporations and individuals would grow the economy, create jobs, and lift wages. But it never does. As an early architect of what became “Reaganomics,” Bruce Bartlett was there at the birth of this GOP tax myth. He joins the podcast to help set the record straight. Bruce Bartlett: American historian who helped draft the Kemp-R...

Is the American Dream dead? Is economic mobility a myth? The foundational promise of America is that anyone, if they work hard and play by the rules, can enjoy a secure, middle-class life. Christian Cooper and Khiara Bridges join us to discuss the prevailing narrative that we each control our own economic destiny. Christian Cooper: Derivatives trader and author. Frequent commentator in the Wall St...

As newly elected Democrats across the country enter their respective capitol buildings for the first time, Civic Ventures president Zach Silk and former Washington State legislator (and Civic Ventures senior VP) Jessyn Farrell offer advice for what they should prioritize – and it starts with economic policies that help the broad majority. Further reading: https://www.politico.com/magazine/story/20...

Is economic growth all about money, trade, and GDP, or are healthy economies built on a different foundation? In this episode, economist W. Brian Arthur and MIT physicist Cesar Hidalgo explain why human knowledge, knowhow, and innovation are the best measures of rising prosperity and future economic growth. Guest Bios W. Brian Arthur: Economist credited with developing the modern approach to incre...

Pop quiz: What does “GDP” stand for? And now, quickly: what the hell does “gross domestic product” even mean? It turns out, the way we measure the economy changes the way we manage the economy, so if we want to broadly improve the lives of all Americans we need to measure the things that really matter. Diane Coyle: Bennett Professor of Public Policy at the University of Cambridge. Former advisor t...

The American middle class is shrinking and, contrary to popular belief, globalization and automation are not to blame. Far from inevitable, skyrocketing inequality is a choice. In this episode, we look at the policy choices that have relentlessly undermined the middle class, and why we desperately need to choose a better future. Heather Boushey: Executive director and chief economist at the Washin...