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We are living through a paradigm shift from trickle-down neoliberalism to middle-out economics — a new understanding of who gets what and why. Join zillionaire class-traitor Nick Hanauer and some of the world’s leading economic and political thinkers as they explore the latest thinking on how the economy actually works.
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14/04/2020

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. Heidi 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.  Twitter: @hshierholz @EconomicPolicy (News clip from FOX 17 VXMI) Further reading:  Despite 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/ A 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.html Does the stimulus package pass the test? https://civicskunk.works/does-the-stimulus-package-pass-the-test-a070bf4922dc 3.5 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/ Nearly 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/ The 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/ States 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-1269230 Here 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/ A 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/ Policymakers 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/ Congress “CARES” for wealthy with COVID-19 tax policy provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
39m
24/03/2020

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.  Further reading:  Hurricanes hit the poor the hardest: https://www.brookings.edu/blog/social-mobility-memos/2017/09/18/hurricanes-hit-the-poor-the-hardest/ Insult to Injury: Natural Disasters and Residents’ Financial Health: https://www.urban.org/research/publication/insult-injury-natural-disasters-and-residents-financial-health How natural disasters can increase inequality: https://www.pbs.org/newshour/economy/making-sense/how-natural-disasters-can-increase-inequality Poverty and Death: Disaster and Mortality 1996-2015: https://reliefweb.int/report/world/poverty-death-disaster-and-mortality-1996-2015 Poll: 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-pandemic Mnuchin 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.html Coronavirus shock will likely claim 3 million jobs by summer: https://www.epi.org/blog/coronavirus-shock-will-likely-claim-3-million-jobs-by-summer/ News clips from CBS News and ABC News Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
32m
11/02/2020

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.  Anu 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. Twitter: @anupartanen Trevor 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.  Twitter: @TrevorCorson Further reading:  The Nordic Theory of Everything: https://www.indiebound.org/book/9780062316547 Finland Is a Capitalist Paradise: https://www.nytimes.com/2019/12/07/opinion/sunday/finland-socialism-capitalism.html What Americans Don’t Get About Nordic Countries: https://www.theatlantic.com/politics/archive/2016/03/bernie-sanders-nordic-countries/473385/ Capitalism Redefined: https://democracyjournal.org/magazine/31/capitalism-redefined/ Safe, 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-answers Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
46m
21/01/2020

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.  David 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.  News clips credit: CNBC, KING 5, NPR, Democracy Now! Rana 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. Twitter: @RanaForoohar / @FT / @CNN 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 is the author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud.  Twitter: @ddayen / @theprospect Further reading:  Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/ Makers and Takers: https://www.ranaforoohar.com/makersandtakers How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
57m
07/01/2020

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.  Priti 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.  Twitter: @pritikrishtel @IMAKglobal John 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.  Twitter: @JohnArnoldFndtn Further reading:  It’s Time for Pharmaceutical Companies to Have Their Tobacco Moment: https://www.nytimes.com/2019/02/24/opinion/drug-prices-congress.html A Humira Prescription Costs $38,000 A Year Because Our Patent System Is Being Abused: https://www.huffpost.com/entry/opinion-humira-costs-patents_n_5bd0c893e4b0a8f17ef3961f How 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/ Comprehensive Reform to Lower Prescription Drug Prices: https://www.americanprogress.org/issues/healthcare/news/2019/01/29/465621/comprehensive-reform-lower-prescription-drug-prices/ A 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-working How 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/ Billionaire 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/#b6097ee57a25 Millions in U.S. Lost Someone Who Couldn’t Afford Treatment: https://news.gallup.com/poll/268094/millions-lost-someone-couldn-afford-treatment.aspx Our website: http://pitchforkeconomics.com/ Our twitter: @PitchforkEcon Our instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
51m
24/12/2019

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. Yuval 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.  Twitter: @yuvalharari Facebook: @Prof.Yuval.Noah.Harari Instagram: @yuval_noah_harari Molly 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. Twitter: @mollycrockett Further reading: A threat, not a theory: https://democracyjournal.org/magazine/41/a-threat-not-a-theory/ To my fellow plutocrats: you can cure Trumpism: https://www.politico.com/magazine/story/2017/07/18/to-my-fellow-plutocrats-you-can-cure-trumpism-215347 Our website: http://pitchforkeconomics.com/ Our twitter: @PitchforkEcon Our instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
47m
17/12/2019

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.  The 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. Cesar 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.  Twitter: @cesifoti Further reading:  The pitchforks are coming... for us plutocrats: https://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014 ‘Chile Woke Up’: Dictatorship’s Legacy of Inequality Triggers Mass Protests: https://www.nytimes.com/2019/11/03/world/americas/chile-protests.html Global 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/ Chile 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
32m
10/12/2019

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? Matt 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. Twitter: @MattGertz Further reading:  Media Matters website: https://www.mediamatters.org/ Who Fact-Checks the Fact-Checkers? https://civicskunk.works/who-fact-checks-the-fact-checkers-da45dc63e00c How 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-newspapers Study: 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-twitter Our website: http://pitchforkeconomics.com/ Our twitter: @PitchforkEcon Our instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer
36m
19/11/2019

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.  Katrine 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. Twitter: @katrinemarcal Dr. 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.  Twitter: @drlisadcook Anna 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.  Twitter: @itsafronomics Further reading:  Who Cooked Adam Smith’s Dinner? https://www.indiebound.org/book/9781681771427 Opinion: It Was a Mistake for Me to Choose This Field: https://www.nytimes.com/2019/09/30/opinion/economics-black-women.html The Sadie Collective: https://www.sadiecollective.org/our-mission.html Why are there so few women economists? https://review.chicagobooth.edu/economics/2019/article/why-are-there-so-few-women-economists Women’s Economic Agenda: https://www.epi.org/womens-agenda/
53m
29/10/2019

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.  Abigail Disney is a documentary filmmaker, philanthropist, and social activist. She is the granddaughter of Roy Disney, the co-founder of the Walt Disney Company. Twitter: @abigaildisney Chye-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.  Twitter: @dashching CenteronBudget Further reading:  For 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/ In 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/ Want to grow the economy? Tax rich people like me: https://www.businessinsider.com/nick-hanauer-defends-wealth-tax-grow-economy-create-jobs-2019-7  Disney 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-line Tax 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-wealth Wealth 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-2019-7 Fundamentally 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  The Rich Can’t Get Richer Forever, Can They? https://www.newyorker.com/magazine/2019/09/02/the-rich-cant-get-richer-forever-can-they The 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-2019-6 How 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
54m
22/10/2019

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.  Naomi 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.  Twitter: @NoamiAKlein J.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.  Twitter: @JWMason1 Further reading and resources:  On Fire: https://www.indiebound.org/book/9781982129910 Can We Afford a Green New Deal? http://jwmason.org/slackwire/can-we-afford-a-green-new-deal/ Decarbonizing the US Economy: Pathways Toward a Green New Deal: https://rooseveltinstitute.org/wp-content/uploads/2019/06/Roosevelt-Institute_Green-New-Deal_Digital-Final.pdf A Message from the Future with Alexandria Ocasio-Cortez: https://www.youtube.com/watch?v=d9uTH0iprVQ With 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/
59m
10/09/2019

Does the market really 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 it’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman join us this week to expose the lie of marginal productivity and show how it’s been used to exploit workers for centuries.  Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow of Higher Education Finance at the Jain Family Institute. He studies market power in labor markets and its policy implications. He was previously a Senior Economist and Fellow at the Roosevelt Institute, and a Research Economist at the Center for Equitable Growth.  Twitter: @Econ_Marshall Saru Jayaraman is the Co-Founder and President of the Restaurant Opportunities Centers United (ROC United) and Director of the Food Labor Research Center at the University of California, Berkeley. Saru authored ‘Behind the Kitchen Door’, a national bestseller, and her most recent book is ‘Forked: A New Standard for American Dining.’  Twitter: @SaruJayaraman Further reading No, Productivity Does Not Explain Income: https://evonomics.com/no-productivity-does-not-explain-income/  ROC United Diners’ Guide App: https://rocunited.org/diners-guide/ Saru Jayaraman: How Restaurant Workers Are Inheriting a Legacy of Slavery in the U.S.: https://bioneers.org/saru-jayaraman-restaurant-workers-inheriting-legacy-slavery-u-s-ztvz1712/ Evidence and Analysis of Monopsony Power, Including But Not Limited To, In Labor Markets: https://www.ftc.gov/system/files/documents/public_comments/2018/08/ftc-2018-0054-d-0006-151013.pdf Antitrust and Labor Market Power: https://econfip.org/wp-content/uploads/2019/05/Antitrust-and-Labor-Market-Power.pdf Why Are Economists Giving Piketty the Cold Shoulder?  http://bostonreview.net/class-inequality/marshall-steinbaum-why-are-economists-giving-piketty-cold-shoulder
50m
03/09/2019

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

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.  Ben Zipperer is an economist at the Economic Policy Institute. His areas of expertise include the minimum wage, inequality, and low-wage labor markets. He has published research in the Industrial and Labor Relations Review and has been quoted in outlets such as The New York Times, The Washington Post, Bloomberg, and the BBC.  Twitter: @benzipperer, @EconomicPolicy Further reading:  Gradually raising the minimum wage to $15 would be good for workers, good for businesses, and good for the economy: https://www.epi.org/publication/minimum-wage-testimony-feb-2019/ Six reasons not to put too much weight on the new study of Seattle’s minimum wage: https://www.epi.org/blog/six-reasons-not-to-put-too-much-weight-on-the-new-study-of-seattles-minimum-wage/ Studies mentioned in the episode:  New EPI study: The Effect of Minimum Wages on Low-Wage Jobs: Evidence from the United States Using a Bunching Estimator: https://www.nber.org/papers/w25434 Card and Krueger: Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: http://davidcard.berkeley.edu/papers/njmin-aer.pdf University of Washington study - Minimum Wage Increases, Wages, and Low-Wage Employment: Evidence from Seattle: https://www.nber.org/papers/w23532
46m
27/08/2019

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

Under a Federal Jobs Guarantee, rather than distributing unemployment checks, the government would give a living-wage job to everyone that needs one. It’s a concept that’s been gaining popularity recently, and it’s often pitted against universal basic income. For the second episode in this two-part series exploring both ideas, expert Pavlina Tcherneva and Representative Ro Khanna join Nick and Paul to make the case for a Job Guarantee.  Pavlina Tcherneva is an Associate Professor of Economics at Bard College and a Research Scholar at the Levy Economics Institute. Her research on the job guarantee has informed the proposals of several members of congress, and she has collaborated with governments around the world on designing and evaluating employment programs.  Twitter: @ptcherneva Ro Khanna is the U.S. Representative from California’s 17th congressional district. He sits on the House Budget, Armed Services, and Oversight and Reform committees and is first vice chair of the Congressional Progressive Caucus. He also serves as an Assistant Whip for the Democratic Caucus. In 2018, he introduced legislation to ensure that every jobless worker in the country is given the opportunity to earn a living. Twitter: @RoKhanna  Further reading:  Ro Khanna Has an Ambitious Plan to Put the Unemployed to Work. Just Don’t Call It a Job Guarantee. https://slate.com/business/2018/07/ro-khanna-has-an-ambitious-plan-to-help-the-unemployed-just-dont-call-it-a-job-guarantee.html  Trump’s bait and switch: job creation in the midst of welfare state sabotage: http://www.paecon.net/PAEReview/issue78/Tcherneva78.pdf 4 big questions about job guarantees: https://www.vox.com/2018/4/27/17281676/job-guarantee-design-bad-jobs-labor-market-federal-reserve The Federal Job Guarantee - A Policy to Achieve Permanent Full Employment: https://www.cbpp.org/research/full-employment/the-federal-job-guarantee-a-policy-to-achieve-permanent-full-employment Unemployment: The Silent Epidemic: http://www.levyinstitute.org/pubs/wp_895.pdf  The Job Guarantee: Design, Jobs, and Implementation: http://www.levyinstitute.org/pubs/wp_902.pdf
46m
20/08/2019

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

You can’t throw a rock without hitting a wandering conversation about Universal Basic Income these days—but in our office, we’re still skeptical. For the first in a two-episode series exploring guaranteed income and its sister idea, guaranteed jobs, UBI expert Scott Santens and Sukhi Samra, the executive director of a real-life UBI experiment in California, join Nick and Paul to make the case for a universal basic income.  Scott Santens is a prominent UBI advocate with a crowdfunded income via Patreon. As a writer and blogger, his pieces advocating for basic income have appeared in The Huffington Post, The Boston Globe, TechCrunch, Vox, the World Economic Forum, and Politico. He is on the board of directors of the U.S. Basic Income Guarantee Network, a founding member of the Economic Security Project, an advisor to the Universal Income Project, a founding committee member of Basic Income Action, and founder of the BIG Patreon Creator Pledge.  Twitter: @scottsantens Patreon: https://www.patreon.com/scottsantens  Sukhi Samra is the Executive Director of the Stockton Empowerment Demonstration (SEED), a pilot program to test a universal basic income in Stockton, CA. SEED is the country’s first-ever city-led Guaranteed Income Initiative.  Twitter: @stocktondemo Further reading: Our Vision for SEED: A Discussion Paper: https://www.stocktondemonstration.org/wp-content/uploads/2019/05/SEED-Discussion-Paper.pdf What would a universal basic income mean for America? Stockton thinks it has the answer: https://www.latimes.com/local/california/la-pol-ca-basic-income-stockton-reparations-20190415-story.html  The Progressive Case for Replacing the Welfare State with Basic Income: https://www.huffpost.com/entry/the-progressive-case-for_b_12236546
49m
13/08/2019

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

There are nearly 60 million gig economy workers in the U.S. workforce, yet benefits like health care, retirement, and paid leave are still tied to traditional salaried jobs. It is essential that we adopt new policies guaranteeing all workers the basic level of economic security necessary to sustain and grow the American middle class—and with it, the economy as a whole. This week, Senator Mark Warner and SEIU 775 Benefits Group Executive Director Abby Solomon imagine what a shared security system designed to fit modern flexible employment realities might look like.  Senator Mark Warner is the senior U.S. Senator from Virginia. He serves on the Senate Finance, Banking, Budget, and Rules Committees as well as the Select Committee on Intelligence, where he is the Vice Chairman. From 2002 to 2006, he served as Governor of Virginia. Senator Warner spent 20 years as a successful technology and business leader in Virginia before entering public office.  Twitter: @MarkWarner Abby Solomon is the Executive Director of SEIU 775 Benefits Group, overseeing trusts for training, health, and retirement benefits for Washington state’s Home Care Aide workforce. The Benefits Group provides portable benefits to 50,000 home care workers. Previously, Abby was the Director of Home Care Campaigns at SEIU, where she led national advocacy campaigns representing 1.9 million workers and 100+ occupational fields throughout the United States and Canada.  Twitter: @SEIU775BG Further reading:  Shared Security, Shared Growth: https://democracyjournal.org/magazine/37/shared-security-shared-growth/ Portable Benefits for an Insecure Workforce: https://prospect.org/article/portable-benefits-insecure-workforce Building a portable benefits system for today’s world: http://seiu775.org/building-a-portable-benefits-system-for-todays-world/
49m