Pitchfork Economics with Nick Hanauer

How to Build a Just Economy (with Nick Romeo)

Apr 30, 2024

Journalist Nick Romeo discusses his book 'The Alternative: How to Build a Just Economy' on restructuring the economy towards fairness. Topics include worker cooperatives, public-option marketplaces, job guarantee programs, challenges of monopolies like Amazon, policy interventions for a just economy, and alternatives to neoliberalism for sustainability.

35:42

Episode guests

Nick Romeo

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Episode notes

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Quick takeaways

Middle-out economics prioritizes rebuilding the economy from the middle class, advocating for a bottom-up approach that benefits all.

Integrating history, philosophy, and ethics into economic education can lead to better policy decisions and economic models, challenging conventional economic theories.

Deep dives

Reimagining Economics: The Need for Middle-Out Economics

Middle-out economics emphasizes rebuilding the economy from the middle out and bottom up, contrary to the traditional top-down approach. It recognizes that the middle class, not Wall Street, is the backbone of the economy, benefiting everyone. Nick Romeo's book, "The Alternative, How to Build a Just Economy," challenges conventional economic theories, highlighting the need to integrate history, philosophy, and ethics into economic education.

Introduction

5min

Rethinking Capitalism: Alternative Economic Models

19min

Public Option for Gig Workers to Combat Exploitation by Private Companies

2min

Exploring Market Dominance, Rent-Seeking Behavior, and the Role of a Benevolent Dictator in Economics and Education

2min

Policy Interventions for a Just Economy and Challenges of Employee Ownership

5min

Exploring Alternatives to Neoliberalism for a Just Economy

2min

Journalist Nick Romeo joins us to discuss his new book "The Alternative: How to Build a Just Economy." Romeo argues that the conventional economic wisdom has fostered political and economic instability, resulting in widening inequality, environmental degradation, and the exploitation of workers. He also highlights innovative solutions and success stories—including worker cooperatives, public-option marketplaces, and job guarantee programs— that paint a picture of how we can design systems in a market economy that truly work for everyone.

Nick Romeo is a journalist, critic, and essayist who has spent years covering policy and ideas for The New Yorker magazine. He also teaches at the Graduate School of Journalism at UC Berkeley.

The Alternative: How to Build a Just Economy

The New Yorker: Nick Romeo

Website: http://pitchforkeconomics.com

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer