Pitchfork Economics with Nick Hanauer
Revisiting the Legacy of the Fight for $15 (with Yannet Lathrop and Dr. T. William Lester)
Aug 27, 2024
Yannet Lathrop, a vital advocate for the Fight for $15 movement, and Dr. T. William Lester, an expert in wage-related economic issues, delve into the transformative impact of the decade-long initiative. They discuss how the movement has raised wages for millions and narrowed the racial wealth gap, particularly benefiting communities of color. The duo challenges outdated economic myths, illustrating how higher minimum wages can foster job growth and enhance worker equity. Their insights emphasize the ongoing relevance of wage increases as a central issue in today’s economic discourse.
48:47
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The Fight for $15 movement has successfully elevated wages for 26 million workers, significantly narrowing the racial wealth gap in the process.
- Research indicates that raising the minimum wage boosts local economies and accelerates job growth, challenging traditional economic assumptions about wage increases.
Deep dives
The Impact of the $15 Minimum Wage Movement
The movement advocating for a $15 minimum wage has resulted in significant changes across the United States, with 86 jurisdictions adopting higher wages since 2012. This change has benefitted approximately 26 million workers, yielding a total of $150 billion in increased earnings. The $15 minimum wage has also contributed to a narrowing wealth gap, particularly for workers of color, as their share of the increased wages has been notably high. Union membership and labor movements have thrived as a result, demonstrating that higher minimum wages can coexist with union interests rather than undermine them.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
