Nick Romeo, a writer for The New Yorker, shares his insights on economic policies and ideas. He covers topics such as worker ownership plans, gig economy reform, job guarantees, climate budgeting, and participatory budgeting in Oslo and Kashkash.
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Quick takeaways
Ignoring externalities in pricing leads to human suffering and environmental collapse.
Worker ownership plans can contribute to a strong middle class and increase retirement savings.
Deep dives
Externalities and True Cost Accounting
Ignoring externalities in the pricing of goods and services leads to great human suffering and environmental collapse. True cost accounting methods and the true price movement provide consumers and policymakers with crucial information to make informed choices that would motivate businesses to decrease externalities and compel policymakers to do the same.
Worker Ownership and Profit Sharing
Worker ownership, such as Employee Stock Ownership Plans (ESOPs), can contribute to building a strong middle class. ESOPs allow workers to accumulate ownership shares over time, leading to substantial retirement savings. Additionally, instituting profit sharing or worker ownership plans in large companies could significantly increase the size of the middle class in the country.
Nick Romeo, a writer for The New Yorker, has spent the last several years covering the most compelling economic policies and ideas in Europe and America. He's here today to share what he's learned.
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