Pitchfork Economics with Nick Hanauer
Revisiting the history of Middle-Out Economics (with Michael Tomasky)
Dec 5, 2023
Journalist Michael Tomasky joins the show to discuss the origins of middle-out economics, its contrast with trickle-down economics, and the importance of inclusivity in the economy. They explore the power of storytelling in shaping public perception, the lack of economic literacy in journalism, and the flaws of neoclassical economic theory. They also dive into the theory of middle-out economics, which prioritizes including more people and leveraging their knowledge as the main economic resource.
45:35
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Middle-out economics emphasizes that inclusion of more people in the economy leads to increased productivity, consumption, and entrepreneurialism, challenging the prevailing trickle-down economic narrative.
- The book 'The Middle Out' by Michael Tymaski provides a historical exposition of economic paradigms and highlights efforts to challenge neoliberal economic thinking, presenting a narrative grounded in economic cause and effect.
Deep dives
Middle-out economics prioritizes the inclusion of more people in the economy for faster and more prosperous growth.
Middle-out economics emphasizes that the economy grows from the middle-out, as including more people in the economy leads to increased productivity, consumption, and entrepreneurialism. It rejects the notion that economic growth is solely driven by capital and highlights that the economy is ultimately about people. As such, middle-out economics challenges the prevailing trickle-down economic narrative and offers an affirmative alternative that centers around the inclusion of the vast majority of people in the economy.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
