Business reporting on labor unions tends to focus on speculation about how much striking workers might hurt the economy. But the reality is that successful strikes have a long-term positive impact on economic growth because they raise wages for all workers. Economist and researcher Kate Bahn, Director of Research from WorkRise argues that strikes, especially historic strikes such as the recent UAW strike, benefit both unionized and non-union workers, and have much broader ripple effects across the whole economy because they increase worker power and competition for workers across various sectors and industries.  Kate Bahn is an economist and researcher, currently serving as the Director of Research for WorkRise, a research-to-action network hosted by the Urban Institute. Bahn's expertise lies in labor markets, gender economics, and income inequality. She has conducted extensive research on topics such as the gender wage gap, paid family leave, and the impact of automation on employment. Bahn's work combines rigorous analysis with a commitment to addressing the needs and challenges faced by marginalized communities. Twitter: @LipstickEcon How the UAW strike might benefit all workers: https://www.cnn.com/2023/09/15/opinions/union-member-negotiations-uaw-pay-bahn/index.html  Labor unions are good for workers, and here’s why they also make good business sense: https://www.marketwatch.com/story/labor-unions-are-good-for-workers-and-heres-why-they-also-make-good-business-sense-a39f3697  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We already know that many mainstream economists advocate against the economic interests of the majority of working Americans and for the benefit of a tiny handful of super-rich people and corporations. But Clara Mattei argues that economists are actually guilty of something even more insidious: By promoting austerity measures that destabilize working people and consolidate wealth and power at the very top of the income scale, economists have created the perfect conditions for fascism to take root around the world. Is it too late to rebuild our democratic institutions through a new economic understanding? Clara Mattei is a distinguished academic in the field of economics and an Associate Professor of Economics at The New School for Social Research in New York City. Her research examines the history of capitalism, exploring the critical relationship between economic ideas and technocratic policymaking. She’s the author of the book, The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism. Twitter: @claraemattei The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism https://press.uchicago.edu/ucp/books/book/chicago/C/bo181707138.html Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We’ve lived in the shadow of trickle-down economics for over 40 years. During that time, our leaders unquestioningly embraced economic policies that prioritize the wealthiest and most powerful, with the idea that their wealth will eventually “trickle down” to everyone else.Of course, that wealth never has trickled down. Thankfully, our economic understanding has finally started to shift. This has been a landmark year in passing middle-out economic policies that prioritize the vast majority of working Americans over the wealthy few. In a future episode we’ll be discussing the middle-out research and policies that are making a real difference in people's lives, thereby changing the way we think about economic cause and effect. But before we look ahead to the glorious middle-out future, it’s important to revisit the history of middle-out economics via a conversation with journalist Michael Tomasky, author of a recent book detailing the rise of progressive economics in the United States. This episode originally aired on October 18, 2022 Michael Tomasky is a journalist and author. He’s top editor of The New Republic. He’s editor of Democracy: A Journal of Ideas, as well as a contributing opinion writer for The New York Times. Twitter: @mtomasky The Middle Out https://www.penguinrandomhouse.com/books/671443/the-middle-out-by-michael-tomasky  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In its quest to combat inflation the Federal Reserve has seemingly done everything in its power to engineer a recession, which would throw millions of people out of work. Rather than question the Fed’s actions, mainstream economists cheered them on, claiming that we need multiple months of high unemployment to bring inflation down. But do we really need to immiserate America’s working class in order to save the economy? Today’s guest, Arnab Datta, and his colleagues at Employ America are producing research that suggests we should instead be using macroeconomic policies to steer the economy to high employment and robust wage growth—which would reduce inequity, spur economic development, and expand the availability of good-paying jobs for all Americans. Arnab Datta serves as the Senior Counsel for Employ America, which is an organization focused on economic policy research and advocacy that prioritizes full employment, wage growth, and economic stability. Employ America seeks to influence economic policy discussions and shape the narrative around employment and economic well-being. Twitter: @ArnabDatta321, @employamerica Website: www.employamerica.org The Fed Is Trying To Engineer A Recession https://www.employamerica.org/blog/the-fed-is-trying In The Right Context, Full Employment Can Support A Pickup In Productivity https://www.employamerica.org/blog/in-the-right-context-full-employment-can-support-a-pickup-in-productivity Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Mainstream economists have been predicting a recession on the horizon for over a year, with some doomsayers even making up something called “a non-recession recession” to characterize the state of the economy. There’s no better person to cut through all this bluster and nonsense than the creator of one of the most reliable economic indicators created in the last few decades: the Sahm Rule, which aims to predict and track recessions in real time. Former Federal Reserve economist Claudia Sahm joins the podcast to walk us through the Sahm Rule’s methodology and explains how it utilizes timely data to provide early warnings of economic downturns, offering policymakers, businesses, and individuals a valuable tool for proactive decision-making. Claudia Sahm is an esteemed economist and policy expert who has served as director of macroeconomic policy at the Washington Center for Equitable Growth, Senior Economist at the Federal Reserve, and economist for the White House Council of Economic Advisers under President Obama. She’s known for her contributions to macroeconomics and the development of the Sahm Rule, her research on monetary policy, labor markets, and macroeconomic stabilization has made her a trusted advisor and consultant to policymakers and organizations seeking evidence-based insights. Twitter: @Claudia_Sahm Claudia Sahm Substack: https://stayathomemacro.substack.com/  ‘We do not need a recession, but we may get one’: https://www.ft.com/content/3213f700-26a7-4d84-aca0-d7cc5bf11484  Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

No matter which indicator you’re using, American inequality has been increasing in recent decades. Whether you’re measuring the growing wealth gap, the stagnant wages of the middle class, or the concentration of wealth and power among a small group of elites, every indicator unfailingly suggests that inequality is getting worse. Nobel Laureate Angus Deaton joins the podcast to talk about his recent book on the subject, Economics in America: An Immigrant Economist Explores the Land of Inequality, in which he explains how his own experience as an immigrant has shaped his understanding of American inequality and its impact on upward mobility. Angus Deaton is a renowned economist and author known for his groundbreaking work in the fields of poverty, inequality, and health. He is a 2015 Nobel Prize Laureate and is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs at Princeton University. Twitter: @DeatonAngus Economics in America: An Immigrant Economist Explores the Land of Inequality https://bookshop.org/p/books/economics-in-america-an-immigrant-economist-explores-the-land-of-inequality-angus-deaton/19785471?ean=9780691247625  Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

At a time when violations of child labor laws are on the rise nationally, state lawmakers around the country are successfully rolling back child labor protections. Jennifer Sherer and Nina Mast from the Economic Policy Institute have authored an article that insists lawmakers must act to strengthen standards, not erode the existing minimal standards designed to safeguard children from exploitation. They share insights into why weakening child labor protections could have detrimental effects on the middle class and the overall economy. Nina Mast is an economic analyst for the Economic Analysis and Research Network (EARN) at EPI. She also worked on issue campaigns at The Hub Project and efforts to advance a progressive economic worldview at the Groundwork Collaborative. Jennifer Sherer is the director of the Economic Analysis and Research Network (EARN) State Worker Power Initiative. Her work focuses on expanding the ability of working people to achieve racial, gender, and economic justice through organizing, collective bargaining, and public policies that promote worker voice. Twitter: @EconomicPolicy Florida legislature proposes dangerous rollback of child labor protections https://www.epi.org/blog/florida-legislature-proposes-dangerous-roll-back-of-child-labor-protections-at-least-16-states-have-introduced-bills-putting-children-at-risk Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When Nick warned back in 2013 that the pitchforks were coming, he meant that if we continued immiserating the majority of citizens by enriching a wealthy few at the expense of everyone else, an uprising was inevitable. Unfortunately, this warning is still just as relevant ten years later. Peter Turchin joins the podcast to discuss his new book, End Times: Elites, Counter-Elites, and the Path of Political Disintegration, which looks to history (as well as the current turmoil in the United States) to better understand exactly what causes political communities to fall apart. Peter Turchin is Project Leader at the Complexity Science Hub in Vienna, Research Associate at University of Oxford, and Emeritus Professor at the University of Connecticut. End Times https://www.penguinrandomhouse.com/books/703238/end-times-by-peter-turchin  Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Politicians and business interests have lied to the American people for centuries in order to protect their power and profits—and they tell the exact same lies every single time. Nick has co-written a book titled Corporate Bullsh*t with Joan Walsh and Donald Cohen, which reveals this trickle-down duplicity as plain as day by placing egregious past quotes from corporate executives and politicians next to equally outrageous contemporary arguments—all of which justify outcomes that line the pockets of the wealthy and powerful while harming everyone else. Joan and Donald join the show to discuss why they wrote this book and to explain why it’s a must-read for anyone who's tired of getting conned, bamboozled, and ripped off. Joan Walsh is national affairs correspondent for The Nation, the co-producer of the Emmy-nominated documentary The Sit-In: Harry Belafonte Hosts the Tonight Show, and the author of What’s the Matter with White People? Donald Cohen is the founder and executive director of the research and policy center In the Public Interest and the co-author (with Allen Mikaelian) of The Privatization of Everything. Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

If you’re a long-time listener, you’ve definitely heard us discuss the golden rule of middle out economics: The more people you include in the economy, the faster and more prosperous it grows for everybody. The Director of the Othering & Belonging Institute, john a. powell, agrees that inclusion is the key to a thriving economy, and he joins us to explain why the concept of belonging is so important for a healthy community. This episode originally aired on May 24, 2022. john a. powell is the Director of the Othering & Belonging Institute at the University of California, Berkeley. Twitter: @profjohnapowell Targeted universalism: a solution for inequality? https://www.cbs8.com/article/news/local/california/targeted-universalism/509-2127090b-7f50-4a91-91e7-04c47acf3309 Othering & Belonging Institute https://belonging.berkeley.edu/john-powell Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The majority of U.S. workers aren’t compensated anywhere near the value that they actually create for society, while the few who make the most money often work the least and contribute very little. Decades of neoliberal thinking has twisted one of the foundational American beliefs—the idea that hard work eventually reaps great rewards—into a celebration of greed and a dismissal of those of us who work the hardest. Returning guest Elizabeth Anderson explains how we can reclaim the American work ethic in order to once again center workers as the true heroes of the American economy. Professor Elizabeth Anderson specializes in moral, social and political philosophy, feminist theory, social epistemology, and the philosophy of economics and the social sciences. She is the author of several books including Private Government: How Employers Rule Our Lives and, most recently, Hijacked: How Neoliberalism Turned the Work Ethic against Workers and How Workers Can Take It Back. Hijacked: How Neoliberalism Turned the Work Ethic against Workers and How Workers Can Take It Back https://www.cambridge.org/core/books/hijacked/E7E4A7D850C1E7289BA7AAF910455136#fndtn-information Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

There have been a lot of bad takes on inflation out there in the media, from wild speculation about its causes to absurd predictions about when and how the wave of price increases would finally come to an end. But now just about everyone agrees that after two years of rising prices, inflation has finally slowed down. And while there’s still a long way to go, the situation is dramatically better now than it was even six months ago. Mike Konczal from the Roosevelt Institute recently did some research into the disinflation we’ve been seeing, and he returns to the show to tell us what’s really bringing prices back down to earth. Mike Konczal is director of Macroeconomic Analysis at the Roosevelt Institute, where he focuses on full employment, inequality, and the role of public power in a democracy. Twitter: @mtkonczal Supply-Side Expansion Has Driven the Decline in Inflation https://rooseveltinstitute.org/publications/supply-side-expansion-has-driven-the-decline-in-inflation  How Goldilocks Came to the U.S. Economy https://www.nytimes.com/2023/09/11/opinion/inflation-unemployment-phillips-recession.html  Pre-Order Nick's new book, Corporate Bullsh*t https://www.corporatebsbook.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In this wide-ranging conversation with one of our favorite authors, philosopher Michael Sandel explains how the concept of meritocracy has helped to create such a massive divide in American politics and culture.  Michael Sandel is a world-renowned philosopher who teaches political philosophy at Harvard University. His course “Justice” is the first Harvard course to be made freely available online and has been viewed by tens of millions of people around the world. Sandel’s books relate enduring themes of political philosophy to the most vexing moral and civic questions of our time. They include The Tyranny of Merit (2020), Democracy’s Discontent (2022), and more. The Tyranny of Merit: What's Become of the Common Good https://us.macmillan.com/books/9780374289980/thetyrannyofmerit Democracy’s Discontent: A New Edition for Our Perilous Times https://www.hup.harvard.edu/catalog.php?isbn=9780674270718  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Earlier this summer, the Justice Department and Federal Trade Commission (FTC) released a draft update of their Merger Guidelines, “which describe and guide the agencies’ review of mergers and acquisitions to determine compliance with federal antitrust laws.” Maggie Goodlander from the Justice Department joins the podcast to discuss why mergers can weaken competition and harm consumers and workers, and how these proposed guidelines can help bring competition back by making it harder for big corporations to swallow each other up. Maggie Goodlander is the Deputy Assistant Attorney General at the U.S. Department of Justice where she oversees the international, appellate, and policy work of the Antitrust Division. Twitter: @TheJusticeDept Justice Department And FTC Seek Comment on Draft Merger Guidelines https://www.justice.gov/opa/pr/justice-department-and-ftc-seek-comment-draft-merger-guidelines  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

It’s been a little over a year since President Biden signed the CHIPS and Science Act, which invested $231 billion into semiconductor manufacturing in the United States, into law. Despite the fact that those investments are already creating economic growth around the country, most Americans don’t recognize the impact that the CHIPS Act is already having on the national economy. Today, Ronnie Chatterji, the former CHIPS Coordinator at the White House, joins the pod to provide a better understanding of what the CHIPS Act really does and why it matters. Aaron Chatterji is the Duke University Professor of Business and Public Policy. He was previously the White House CHIPS Coordinator and Acting Deputy Director of the National Economic Council in the Biden Administration. Twitter: @RonnieChatterji CHIPS Act: National security is priority for funding, analyst says https://finance.yahoo.com/video/chips-act-national-security-priority-150516934.html  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When employers say they can’t find workers, what they really mean is that they can’t find enough people willing to work for what they want to offer. The so-called “labor shortage” we’ve heard so much about these last few years is actually just a wage shortage. And the solution is simple: pay people more. Labor Day weekend felt like a good time to revisit this subject with EPI President, Heidi Shierholz. This episode originally aired on May 25, 2021. Heidi Shierholz is the president of the Economic Policy Institute, a nonprofit, nonpartisan think tank that uses the power of its research on economic trends and on the impact of economic policies to advance reforms that serve working people, deliver racial justice, and guarantee gender equity. Twitter: @hshierholz Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We saw during the pandemic that giving people cash is good for individuals and the economy as a whole. It makes sense: When people have more money, they spend it in their communities and stimulate the local economy. So why don’t we give people money all the time? Our guest today started a charity that combats poverty by giving people cash, with no strings attached, to use how they wish. The results have been really encouraging. Paul Niehaus, co-founder of GiveDirectly, explains how his program works—and more importantly, why it works. Paul Niehaus is an economist at UCSD and an entrepreneur working to accelerate the end of extreme poverty. He is co-founder, former president, and current director at GiveDirectly, the leading international NGO specialized in digital cash transfers and consistently rated one of the most impactful ways to give. Twitter: @PaulFNiehaus GiveDirectly https://www.givedirectly.org Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

New technologies are sold as a net benefit to society as a whole, but the truth is that technological progress is only loosely correlated to the improved welfare of the majority of citizens. This is not to say that technology and innovation are bad—we’re big supporters of both—but when tech CEOs hold all the power to make decisions that affect all of us, that becomes a problem. For a long time, technology has been used by the rich and powerful to further enrich themselves and consolidate their own power. Is there a way to ensure that everyone benefits from innovation—not just the wealthy few? Returning guest Daron Acemoglu shares insight from his new book on the subject, Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity. Daron Acemoglu is the Institute Professor of Economics at MIT, the university’s highest faculty honor. For the last twenty-five years, he has been researching the historical origins of prosperity, poverty, and the effects of new technologies on economic growth, employment, and inequality. He is an author (with James Robinson) of The Narrow Corridor and the New York Times bestseller Why Nations Fail. Twitter: @NarrowCorridor Power and Progress https://www.hachettebookgroup.com/titles/daron-acemoglu/power-and-progress/9781541702530 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Nick and Goldy answer more of your questions! What happens to current economic systems if world population growth goes to zero? Should I feel guilty for wanting my stocks to do well? What could be a good methodology to measure how progressive a tax is? And more! If you have questions for a future “Ask Me Anything” episode, leave us a voicemail at 731-388-9334. Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Today we’re talking about wages—specifically, how the widespread suppression of wages is destroying the American economy. Author, professor, and fellow traveler Michael Lind just published a new book titled “Hell to Pay” that argues America is in need of a revolution in the way we think about work and wages. Lind warns that if American worker power isn’t restored to its previous highs, there’ll be hell to pay. (Sounds a bit like “the pitchforks are coming,” doesn’t it?) Michael Lind is the author of more than a dozen books. He is a columnist for Tablet and has been an editor or staff writer for The New Yorker, Harper’s, The New Republic, and The National Interest. He’s one of the founders of the New America Foundation. He has taught at Harvard and Johns Hopkins and is currently a professor of practice at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. Hell to Pay https://www.penguinrandomhouse.com/books/690656/hell-to-pay-by-michael-lind  “Hell To Pay”: Michael Lind On A True Good Jobs Strategy https://www.forbes.com/sites/michaelbernick/2023/05/16/hell-to-pay-michael-lind-on-a-true-good-jobs-strategy/?sh=c4e0c584d160  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Industrial Policy (IP) has dominated conversations in economic and political circles thanks to President Biden’s big investments in manufacturing, infrastructure, and working Americans. But according to today’s guest, development economist Isabel Estevez, the conversation around IP is too narrow. IP is not just about manufacturing and clean energy, she argues—smart IP also encompasses policies that improve outcomes for people, like reducing child poverty and cleaning our drinking water. Isabel Estevez is the Deputy Director of Industrial Policy and Trade at the Roosevelt Institute. She conducts research at the intersection of industrial and trade policy, with a focus on the transformation and decarbonization of heavy industries, such as steel and aluminum. Twitter: @Isabel_Estevez_ Industrial Transformations https://www.phenomenalworld.org/analysis/industrial-transformations  The American Industrial Policy Series https://rooseveltinstitute.org/think-tank/climate-and-economic-transformation/the-american-industrial-policy-series  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Over the last decade, private equity firms wiped out nearly 600,000 jobs in the retail sector by taking over and bankrupting major retailers like Toys R Us and Payless Shoes. But in that same time, private equity also destroyed companies in healthcare, housing, medicine, and many other industries that affect our everyday lives. Today’s guest, federal prosecutor Brendan Ballou, explains how we can stop private equity’s plan to pillage America. Brendan Ballou is a federal prosecutor and served as Special Counsel for Private Equity in the Justice Department's Antitrust Division. Previously, he worked in private practice, and before that, in the National Security Division of the Justice Department, where he advised the White House on counterterrorism and other policies. Twitter: @brendanballou Plunder: Private Equity's Plan to Pillage America https://www.hachettebookgroup.com/titles/brendan-ballou/plunder/9781541702103 Private Equity is Out of Control and Looting America. This Prosecutor Says We Can Fix It. https://www.ineteconomics.org/perspectives/blog/private-equity-is-out-of-control-and-looting-america-this-prosecutor-says-we-can-fix-it Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

“Bidenomics” is closely aligned with many—probably even most—of the middle-out economic principles that we discuss on this podcast every week. Much to our surprise and delight, Joe Biden has become the first President in 40 years to reject trickle-down economics in favor of building the economy from the middle out, and the results speak for themselves: Since the pandemic began, America has seen the strongest growth of any leading economy in the world. The economy has added 13 million jobs, inflation has fallen for 12 straight months, and a recession is no longer on the horizon. National Economic Council Deputy Director Bharat Ramamurti returns to the show to explain why Bidenomics has been so successful. Bharat Ramamurti is the Deputy Director of National Economic Council (NEC) for The White House. He previously served as a Member of the Congressional Oversight Commission for the CARES Act, and as the Managing Director of the Corporate Power program at the Roosevelt Institute.  Twitter: @BharatRamamurti Bidenomics is Working https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/28/bidenomics-is-working-the-presidents-plan-grows-the-economy-from-the-middle-out-and-bottom-up-not-the-top-down  The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Low pay is obviously terrible for workers, but a growing body of research proves that it’s bad for businesses, too. Smaller paychecks lead to higher turnover, decreased productivity, and poor sales. Will low-wage employers in the grocery, retail, and restaurant industries ever understand that their employees are their most important asset? Zeynep Ton hopes so. She’s written a book explaining how labor investments can pay for themselves, and she joins us today to explain why better-paying jobs are good for everyone in the long run. Zeynep Ton is a Professor of the Practice in the Operations Management group at MIT Sloan School of Management. She is also president of the nonprofit Good Jobs Institute, where she works with companies to improve their operations in a way that satisfies employees, customers, and investors alike. Twitter: @zeynepton Good Jobs are Good Business https://time.com/6285516/good-jobs-good-business The Case for Good Jobs: How Great Companies Bring Dignity, Pay, and Meaning to Everyone’s Work https://store.hbr.org/product/the-case-for-good-jobs-how-great-companies-bring-dignity-pay-and-meaning-to-everyone-s-work/10579 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In the 21st century, summertime isn’t just for lounging on the beach and trips to the ice cream shop. Climate change has made summer much more unpleasant—and even dangerous. This year alone, New York City and Chicago have been choked with wildfire smoke and the southern U.S. suffered through a wave of record-breaking high temperatures. That’s why we’re revisiting our conversation with financial regulation expert Sarah Bloom Raskin about how fiscal policy can help save the environment. She explains what levers already exist to steer monetary policy toward lasting sustainability, and which proposed regulatory strategies could create transformative climate outcomes. This episode originally aired on July 20, 2021. Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee. Twitter: @SBloomRaskin News clips from: CBS News, PBS NewsHour, and TODAY Learn more about the Regenerative Crisis Response Committee here: https://regenerativecrisisresponsecommittee.org Does environmental regulation kill or create jobs? https://policyintegrity.org/files/media/Jobs_and_Regulation_Factsheet.pdf Do regulations really kill jobs? https://www.theatlantic.com/business/archive/2017/01/regulations-jobs/513563 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

It’s Paul and Goldy’s summer reading list!  We want to know what you’re reading, too. Leave us a comment on Instagram: @pitchforkeconomics Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available through your library. Every book mentioned in this episode: Corporate Bullsh*t - Nick Hanauer, Joan Walsh, and Donald Cohen The Ministry for the Future - Kim Stanley Robinson A Spectre, Haunting - China Miéville The City & the City - China Miéville Fight Like Hell - Kim Kelly Rich White Men - Garrett Neiman The 9.9 Percent - Matthew Stewart When the President Calls - Simon W. Bowmaker Capitalism and Freedom - Milton Friedman Essential - Jamie K. McCallum The Journey of Humanity - Oded Galor SPQR - Mary Beard The Death and Life of Great American Cities - Jane Jacobs When McKinsey Comes to Town - Walt Bogdanich & Michael Forsyth Humanly Possible - Sarah Bakewell Bloodlands - Timothy Snyder The Road to Unfreedom - Timothy Snyder On Tyranny - Timothy Snyder Black Earth - Timothy Snyder Pre-Order Nick’s new book with Joan Walsh and Donald Cohen, Corporate Bullsh*t from Amazon: https://www.amazon.com/Corporate-Bullsh-Exposing-Half-Truths-Protect/dp/1620977516  Pre-Order Nick’s new book with Joan Walsh and Donald Cohen, Corporate Bullsh*t from Bookshop: https://bookshop.org/p/books/it-s-never-our-fault-and-other-shameless-excuses-a-compendium-of-corporate-lies-that-protect-profits-and-thwart-progress-donald-cohen/18096544?ean=9781620977514 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

On its website, the Doughnut Economics Action Lab describes Doughnut Economics as “a compass for human prosperity in the 21st century.” Its proponents prioritize economic solutions that meet both the basic needs of all people—food, housing, equity, democratic inclusion—and the ecological needs of the planet that we all call home. Economist Andrew Fanning joins the show to discuss how Doughnut Economics can redefine economics for the 21st century, and he doesn’t sugarcoat the importance of implementing the doughnut model in order to successfully combat climate change. Andrew Fanning is an ecological economist and the Data Analysis & Research Lead at Doughnut Economics Action Lab at the University of Leeds. Twitter: @AndrewLFanning, @DoughnutEcon Doughnut Economics Action Lab (DEAL) https://doughnuteconomics.org Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist https://www.chelseagreen.com/product/doughnut-economics-paperback Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In the 20th century, big corporations sold franchising to Americans as a less risky way to buy into business ownership. But in recent years, the franchise industry has tipped hugely in favor of franchisors, extracting wealth from both franchisees and the employees who work for them through complicated contracts that kill competition and rig the system. Economist Marshall Steinbaum returns to the podcast to share the findings from his deep dive into the (intentionally) complex and arcane franchise system, and to explain the latest data from Washington State’s recent enforcement campaign against no-poach clauses in franchising contracts. Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow in Higher Education Finance at Jain Family Institute. Twitter: @Econ_Marshall Vertical Restraints and Labor Markets in Franchised Industries https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4155571  The Effect of Franchise No-poaching Restrictions on Worker Earnings https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4155577  Coercive Rideshare Practices: At the Intersection of Antitrust and Consumer Protection Law in the Gig Economy https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4196215  Shared Security, Shared Growth https://democracyjournal.org/magazine/37/shared-security-shared-growth  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Americonned, a new documentary featuring our own Nick Hanauer, examines the inequality crisis currently plaguing the United States. The film shows the hidden struggles of American families and dissects the elite’s calculated political maneuvers to preserve and even grow their own wealth at everyone else’s expense. The filmmakers join us to share their experience documenting the long-overdue uprising of American workers, and explain how the process of making their film gave them hope for the future.  Americonned is playing in select theaters & will be available via VOD on June 13th. Sean Claffey is the Director, Producer, and Executive Producer of Americonned. He has more than 25 years in the film industry spanning feature films, industry documentaries and commercials. Dave Pederson is the Producer and Writer of Americonned. He’s an entertainment professional for over 20 years with expertise in Film & Television production, development, sales and distribution. Twitter: @americonneddoc, Instagram: @americonneddocumentary Americonned: The Documentary https://americonned.com Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Even when our nation's prosperity was most broadly shared in the 1950s and 1960s, Black people and other communities of color were purposefully denied the shared prosperity that white families enjoyed. And because inclusion drives economic growth, excluding anyone from the economy is bad for all of us. Jeremie Greer, Liberation in a Generation’s co-director, explains how racism is profitable under our current economic system, and breaks down how we can build a Liberation Economy that truly includes—and benefits—everyone. Jeremie Greer is the Co-Founder and Co-Executive Director of Liberation in a Generation, a national movement-support organization, building power for POC and demanding a Liberation Economy.  Twitter: @liberation_gen, @JeremieGreer Liberation in a Generation https://www.liberationinageneration.org  Racism is Profitable Podcast https://www.liberationinagenerationaction.org/podcast  The Road to Zero Wealth https://ips-dc.org/report-the-road-to-zero-wealth  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Ten years ago, Nick was called "near insane" for saying that substantially raising the minimum wage would create jobs. In retrospect, it seems obvious: After all, if no one has any money, who will buy all the stuff? Researchers at University of California, Berkeley have found more data to support this theory in a first-of-its-kind study on the effects of the $15 minimum wage. Michael Reich, one of the economists who worked on this exciting report, shares his findings with us. Michael Reich is Professor of Economics and Chair of the Center on Wage and Employment Dynamics (CWED) at the Institute for Research on Labor and Employment (IRLE) of the University of California at Berkeley. Twitter: @IRLEUCB High Minimum Wages and the Monopsony Puzzle https://irle.berkeley.edu/publications/working-papers/high-minimum-wages-and-the-monopsony-puzzle New Study Finds a High Minimum Wage Creates Jobs https://nymag.com/intelligencer/2023/05/new-study-finds-a-high-minimum-wage-creates-jobs.html Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We learn in grade school that American citizens are endowed with certain inalienable rights, but basic necessities like housing and education aren’t protected by the Constitution. Imagine how different this country might be if affordable health care and guaranteed employment were included in our Bill of Rights. That’s the vision that economist Mark Paul outlines in his new book, The Ends of Freedom.  Mark Paul is an assistant professor of economics at the Bloustein School of Planning and Public Policy at Rutgers University. His research and writing have appeared in the New York Times, Economist, Washington Post, Nation, American Prospect, and Financial Times, among other publications. Twitter: @MarkVinPaul The Ends of Freedom https://press.uchicago.edu/ucp/books/book/chicago/E/bo195791875.html  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

At the core of middle-out economics is the idea that the more people we include in the economy, the faster and more prosperous it grows. And this inclusionary principle isn’t something we just made up—there’s actual data to support it. Our conversation with JP Julien from McKinsey and Company outlines what inclusion can mean in the context of an economy that works for everyone. This episode originally aired on July 6, 2021. JP Julien is a Partner at McKinsey & Company, where he serves US federal, state, and city governments on inclusive economic-development topics and supports private-, public-, and social-sector organizations in advancing racial equity. He is a leader of the McKinsey Institute for Black Economic Mobility, a global economic think tank focused on inclusive economic development and racial equity topics. Twitter: @McKinsey The case for inclusive growth: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-case-for-inclusive-growth Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We all want to live happier, more fulfilling lives and build a better future for ourselves, but can economics help to make that dream a reality? Economist and philosopher Erik Angner is so confident that economics can save the world that he wrote a whole book about it. Erik helps Nick and Goldy overcome their usual cynicism by pointing out all the amazing progress that has been made in the economics profession, and he explains how economics can help build an even more glorious future for everyone. Erik Angner is Professor of Practical Philosophy at Stockholm University, where he directs the PPE Program. He is the author of several books including A Course in Behavioral Economics and How Economics Can Save the World. Twitter: @ErikAngner How Economics Can Save the World https://www.penguin.co.uk/books/321644/how-economics-can-save-the-world-by-angner-erik/9780241502693  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

This week we’re continuing our exploration into the ways that higher education contributes to America’s political, cultural, and economic divisions. Goldy chats with author Will Bunch about how our leaders almost established a university education as a public good, why the so-called “knowledge economy” has caused inequality to grow, and how we can possibly fix our educational divide. Will Bunch is a national opinion columnist for the Philadelphia Inquirer and author of several books. He has won numerous journalism awards and shared the 1992 Pulitzer Prize for spot news reporting with the New York Newsday staff. Twitter: @Will_Bunch After the Ivory Tower Falls https://www.harpercollins.com/products/after-the-ivory-tower-falls-will-bunch Better Public Schools Won’t Fix America https://www.theatlantic.com/magazine/archive/2019/07/education-isnt-enough/590611 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Universities across America are still teaching an outdated, neoclassical way of economic thinking. The trickle-down curriculums taught in Econ 101 classrooms aren’t just bad for students—they have had disastrous, far-reaching effects on the economy. Decades of bad education has left students adrift: A new study from Rethinking Economics reveals that the majority of college students are critical of the US economic system, with a large majority believing it needs to change. Can we redesign economic curriculums to better reflect how the economy really works? Abigail Acheson is network coordinator and staff organizer with the US Rethinking Economics National Network. A recent graduate, Abigail is dedicated to revitalizing student organizing for curriculum change at universities.  Nouhaila Oudija is a researcher and consultant at RE-USA. She recently published a research project about college students' attitudes around the US economic system and about the lack of diversity of thought in economics curricula. Twitter: @RethinkEcon_USA, @rethinkecon Economics is Failing US College Students https://www.rethinkeconomics.org/2022/10/18/econ-failing-us-students Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

As Tax Day approaches in the United States, we’re revisiting our conversation with Gabriel Zucman, the authority on wealth taxes. For the last 40 years, trickle-down politicians have slashed tax rates on the rich, benefiting the wealthy few at the expense of the American middle class. Zucman explains how the rich manage to dodge taxes, and how we can fix this broken system. This episode originally aired on November 26, 2019. Gabriel Zucman is now Professor of Economics at the Paris School of Economics and Ecole Normale Supérieure – PSL, Associate Professor of Economics at the University of California, Berkeley, Director of the EU Tax Observatory, and Director of the James M. and Cathleen D. Stone Center on Wealth and Income Inequality at UC Berkeley. Twitter: @gabriel_zucman The Triumph of Injustice: https://wwnorton.com/books/the-triumph-of-injustice The Wealth Detective Who Finds the Hidden Money of the Super Rich: https://www.bloomberg.com/news/features/2019-05-23/the-wealth-detective-who-finds-the-hidden-money-of-the-super-rich Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

One in five American workers has signed a noncompete clause. The FTC believes that the elimination of these clauses would generate extra job opportunities for 30 million workers and raise wages by $300 billion—a huge win for the average American worker. Economist Evan Starr shares findings from his new report on noncompetes and their enforceability in court, which uses data from our home state of Washington. Evan Starr is an Assistant Professor of Management & Organization at the Robert H. Smith School of Business at the University of Maryland. He received a Ph.D. in economics from the University of Michigan.  Twitter: @evanpstarr Do Firms Value Court Enforceability of Noncompete Agreements? https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4364674  The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda Why your noncompete clause is probably illegal https://pitchforkeconomics.com/episode/why-your-non-compete-clause-is-probably-illegal-with-attorney-general-bob-ferguson  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When did ordinary people come to believe that free market solutions are always better than government intervention? How do we create a future where markets serve democracy instead of stifling it? In this episode we’re talking about the “magic” of the marketplace and the myth that the free market is ruthlessly efficient and always knows best. The co-authors of The Big Myth explain exactly how American business taught us to loathe government and love the free market. Naomi Oreskes is Professor of the History of Science at Harvard University. Her opinion pieces have appeared in the New York Times, the Washington Post, the Los Angeles Times, and many other outlets.  Erik M. Conway is a historian of science and technology and works for the California Institute of Technology. He is the author of seven books and dozens of articles and essays. Twitter: @NaomiOreskes, @ErikMConway  The Big Myth https://www.bloomsbury.com/us/big-myth-9781635573572 The Silicon Valley Bank Bailout Didn’t Need to Happen https://prospect.org/economy/2023-03-13-silicon-valley-bank-bailout-deregulation  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Between 1870 and 2010 an unprecedented explosion of material wealth transformed the globe, but that wave of prosperity failed to create a fully functioning and equal society. How did we manage to create an economic pie large enough for everyone to share, but then fumble dividing that pie up equally? Brad DeLong explores this question in his new book, Slouching Towards Utopia, which looks at the economic history of the twentieth century and why it matters today. J. Bradford DeLong is an economic historian and a professor of economics at the University of California, Berkeley. He was a deputy assistant secretary of the U.S. Treasury during the Clinton administration. He writes a widely read economics blog, now at braddelong.substack.com Twitter: @delong Slouching Towards Utopia https://www.basicbooks.com/titles/j-bradford-delong/slouching-towards-utopia/9780465019595 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We've released dozens of episodes exploring how to improve the lives of Americans that live in rural areas, but we don’t often discuss how cities (and the folks that live in them) are being left behind by state lawmakers and federal policies. This is a problem because cities are key to innovation and economic growth. Richard McGahey's new book explores how to overcome anti-urban bias in order to reduce inequality in cities throughout the United States. Richard McGahey is an economist and senior fellow at the Schwartz Center for Economic Policy Analysis and the Institute on Race, Power, and Political Economy, both within The New School. Twitter: @rickmcgahey Unequal Cities http://cup.columbia.edu/book/unequal-cities/9780231173346 Redefining Rural America https://pitchforkeconomics.com/episode/redefining-rural-america-with-olugbenga-ajilore/   Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

A new report from the Economic Policy Institute found that anywhere from 10 to 30 percent of employers are essentially stealing thousands of dollars from their workers every year by misclassifying them as independent contractors. In addition to lower pay, those misclassified workers are also deprived of employer-provided benefits like health care and labor rights like basic safety regulations. Returning guest Heidi Shierholz walks us through the report and explains how to figure out if your employer is stealing from you by classifying you as an independent contractor. Heidi Shierholz is the president of the Economic Policy Institute, a nonprofit, nonpartisan think tank that uses the power of its research on economic trends and on the impact of economic policies to advance reforms that serve working people, deliver racial justice, and guarantee gender equity. Twitter: @hshierholz The economic costs of worker misclassification https://www.epi.org/publication/cost-of-misclassification  Shared security, shared growth https://democracyjournal.org/magazine/37/shared-security-shared-growth  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Goldy and Paul interview author Rick Wartzman about how America’s biggest employer (Walmart) began taking better care of its workers (by raising wages)—and why that decision might be too little, too late. According to Wartzman, Walmart has gone through a remarkable transformation, but there are limits to how much positive change this brand of socially conscious capitalism can create. Rick Wartzman is co-president of Bendable Labs, a technology, consulting and research firm that builds and tests social innovations in the areas of lifelong learning, workforce development and job quality. He’s the author of several books that meet at the intersection of business and society including Still Broke: Walmart's Remarkable Transformation and the Limits of Socially Conscious Capitalism, The End of Loyalty: The Rise and Fall of Good Jobs in America, Obscene in the Extreme: The Burning and Banning of John Steinbeck’s The Grapes of Wrath, and The King of California: J.G. Boswell and the Making of a Secret American Empire. Twitter: @RWartzman Still Broke https://www.publicaffairsbooks.com/titles/rick-wartzman/still-broke/9781549156250 Walmart and McDonald’s have the most workers on food stamps and Medicaid, new study shows https://www.washingtonpost.com/business/2020/11/18/food-stamps-medicaid-mcdonalds-walmart-bernie-sanders    Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Stock buybacks are one of the worst excesses of modern capitalism, which naturally means they're one of our favorite subjects to cover on the podcast. And since they’re in the news again, we thought it would be a good time to revisit one of our first episodes, from 2019. How much has changed over the past 4 years? President Biden’s proposal to raise taxes on buybacks to 4% is the most promising update so far, but much of our conversation with Senator Cory Booker remains relevant today. This episode originally aired on February 26, 2019. Cory Booker is the U.S. Senator from New Jersey. Since 2013, Cory has written and championed dozens of bills aimed at fixing our broken criminal justice system, expanding economic opportunity, and fighting for equal justice for everyone. Twitter: @CoryBooker The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda  Stock buybacks are soaring to record levels — and Cory Booker wants to stop it https://www.vox.com/policy-and-politics/2018/3/6/17083398/booker-buyback-populist  Stock Buybacks Are Killing the American Economy https://www.theatlantic.com/politics/archive/2015/02/kill-stock-buyback-to-save-the-american-economy/385259 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In July 2021, President Biden signed an executive order directing government agencies to rewrite policies to encourage competition in the U.S. economy. Returning guest David Dayen has compiled 18 months’ worth of actions resulting from this order. After more than four decades of unrestrained corporate power, Dayen explains, competition is finally returning to the economy—and that’s good news for everyone. David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His most recent book is ‘Monopolized: Life in the Age of Corporate Power.’ Twitter: @ddayen A Pitched Battle on Corporate Power https://prospect.org/economy/2023-01-25-pitched-battle-corporate-power  The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When the Biden Administration announced last year that they would forgive up to $20,000 student loan debt per individual, millions of people celebrated—and for good reason. The student loan debt that Americans carry has ballooned to $1.8 trillion in recent decades, threatening the economic security of American households from coast to coast and up and down the income scale. Unfortunately, the Biden forgiveness plan has been tied up in several lawsuits, and the Supreme Court will hear oral arguments for these lawsuits at the end of February, with a final decision expected later this spring. As the conversation over student loans heats back up, we’re revisiting our conversation with Associate Professor Fenaba Addo. Addo helps us explore the merits and shortcomings of student debt cancellation, and explains why canceling student debt would actually be good for the economy. You’ll also hear from Pitchfork listeners who share how student loan forgiveness would change their lives.  This episode originally aired on December 22, 2020. Fenaba Addo is an Associate Professor of Public Policy at University of North Carolina-Chapel Hill. She specializes in debt and racial wealth inequality. Her first book, A Dream Defaulted: The Student Loan Crisis Among Black Borrowers, is available now by Harvard Education Press. Twitter: @FenabaAddo The Biden-Harris Administration’s Student Debt Relief Plan Explained https://studentaid.gov/debt-relief-announcement  Is Student Debt Forgiveness Still Going to Happen? https://www.nerdwallet.com/article/loans/student-loans/debt-relief-lawsuits-qa  Forget fairness: Canceling all student debt makes great economic sense for America — here's why https://www.businessinsider.com/why-canceling-student-debt-makes-great-economic-sense-for-america-2020-12  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Oxford economists are currently running the world’s first Universal Job Guarantee program in Austria, and so far the results are very promising. When unemployed people have guaranteed access to training and/or a job, those people feel more in control of their lives and become more financially secure…and happier, too. The study’s co-authors join us to explain why they believe a guaranteed jobs program like this could work in other countries—including the United States. Maximilian Kasy is a Professor of Economics at the University of Oxford Lukas Lehner is an Economist at the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford) and the Department of Social Policy and Intervention, University of Oxford Twitter: @maxkasy, @LukasLehner_ World’s first universal job guarantee boosts wellbeing and eliminates long-term unemployment https://www.inet.ox.ac.uk/news/worlds-first-universal-job-guarantee-boosts-wellbeing-and-eliminates-long-term-unemployment Does the future of work include a Federal Jobs Guarantee? https://pitchforkeconomics.com/episode/does-the-future-of-work-include-a-federal-jobs-guarantee-with-pavlina-tcherneva-and-representative-ro-khanna Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Exactly one decade ago, activists and civic leaders launched the Fight for $15. It’s hard to recall now, but the idea was wildly controversial at the time—Forbes called Nick’s support of a $15 minimum wage “near-insane,” for example. A new report from the National Employment Law Project (NELP) examines the legacy of the movement and all that it has accomplished in the last 10 years. Two of the report’s authors join us to discuss the Fight for $15’s impact beyond growing paychecks, including its effect on the racial wealth gap, union participation, and the economy overall.  Yannet Lathrop is a Senior Researcher and Policy Analyst for the National Employment Law Project.  Dr. T. William Lester is Professor and Acting Chair of Urban and Regional Planning at San José State University and Research Professor at UNC Chapel Hill.  Twitter: @NELPnews Ten-Year Legacy of the Fight for $15 and a Union Movement https://www.nelp.org/publication/10-year-legacy-fight-for-15-union-movement/  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We can’t tear down the existing economic framework and replace it with a better one without first telling a persuasive story about how the economy actually works. And few people in the world are more compelling storytellers than science fiction author Kim Stanley Robinson.  In his speculative near-future novel The Ministry for the Future, Stan explains complicated economic theories better than most economists. He joins Nick and Goldy for a fascinating conversation about the role of economics in both climate change fiction and climate change reality. Kim Stanley Robinson is a New York Times bestseller and winner of the Hugo, Nebula, and Locus awards. He is the author of more than twenty books, including the bestselling Mars trilogy and the critically acclaimed New York 2140 and The Ministry for the Future. Facebook: Kim Stanley Robinson The Ministry for the Future https://www.hachettebookgroup.com/titles/kim-stanley-robinson/the-ministry-for-the-future/9780316300148 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer