Jacobin Radio: Pre-Election Special w/ John Nichols
Nov 2, 2024
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Mark Paul, a progressive economist and Professor of Public Policy at Rutgers, discusses California's Prop 33 aimed at enhancing rent control amidst a housing crisis. He challenges misconceptions about rent control and argues it is essential for providing relief to low- and middle-income families. John Nichols, National Affairs Correspondent for The Nation, reflects on the pivotal role of Wisconsin in the upcoming presidential election, emphasizing the need for a progressive platform to mobilize voters and counter business interests.
Mark Paul highlights that Proposition 33 could enhance housing affordability in California and challenge misconceptions surrounding rent control's impact on supply.
John Nichols emphasizes the importance of grassroots organizing in Wisconsin to engage disaffected voters ahead of the critical 2024 presidential election.
The podcast underlines labor's role in electoral strategies, advocating for policies that address working-class economic concerns while critiquing previous failures.
Deep dives
The Case for Rent Control
The podcast discusses the current debate surrounding California ballot proposition 33, which seeks to enable stronger rent control measures. Economist Mark Paul argues that the prevalent view among economists is not only misguided but also unsupported by recent empirical evidence. He emphasizes that rent control can actually increase rental affordability and neighborhood stability, countering claims that it reduces the housing supply. Historical context illustrates that effective rent control can be designed to mitigate past failures, presenting a legitimate option to address the ongoing housing crisis in California.
Challenges in the Housing Market
It is highlighted that the housing market in California is largely in crisis, with affordable housing in short supply. Mark Paul clarifies that the primary goal of rent control is not to increase the overall numerical supply of housing but to make existing rentals more affordable and stable for current tenants. He challenges the notion put forth by opponents of Pro 33, such as economist Ken Rosen, that rent control would deter new housing construction by indicating that evidence does not support that claim. Instead, Paul suggests that additional supportive policies alongside rent control must be employed to effectively tackle the affordable housing issue.
Economic Inequalities and Market Concentration
The discussion touches on the growing concern surrounding the increasing concentration of housing ownership within large financial institutions and private equity firms. This market power is seen to negatively impact renters, with substantial government subsidies disproportionately benefiting homeowners. Paul connects the financialization of the housing market to the broader problem of affordability, highlighting the detrimental effects of prioritizing profit over stability and community well-being. This dynamic, compounded by the aftermath of the 2008 financial crisis, has created longstanding issues that reform efforts, like Proposition 33, aim to address.
Wisconsin and the 2024 Election Outlook
John Nichols provides insights into the upcoming 2024 election, specifically the presidential race in Wisconsin, which is a critical swing state. He outlines that current polling shows a competitive race, emphasizing the importance of grassroots organizing to engage disaffected voters. Nichols notes that recent campaigning efforts, including high-profile visits from Democratic leaders, aim to rally support and combat Republican strategies. Progressive outreach efforts targeting working-class voters are crucial, as many of these individuals seek policies that directly address their economic concerns.
The Role of Labor and Progressive Messaging
The podcast emphasizes labor's significance in the electoral strategy, citing Sean Fain, UAW's president, as a crucial voice in rallying support for Democrats. Both Mark Paul and John Nichols underline the need for consistent messaging that combines critique of Trump's policies with a positive vision for the future. There is a call for the Democrats to actively engage with labor issues, using examples of how past trade policies have failed workers as leverage. The dialogue stresses the importance of mobilization that emphasizes the demands of everyday Americans, drawing connections between broader economic and social justice movements.
Alan Minsky sits in for host Suzi Weissman on a special pre-election edition of Jacobin Radio. In the first half, Alan speaks with economist Mark Paul, Professor of Public Policy at Rutgers University, about a California ballot measure, Prop 33, that addresses one of the top concerns of voters across the country: the cost of housing. Prop 33 would eliminate statewide restrictions on rent control measures. Predictably, a PAC supported by large real estate corporations is spending over $100 million to try to defeat it. Paul explains why the arguments made by opponents of Prop 33 are misguided, and that the measure, if passed, will provide much needed relief for over-burdened poor, working- and middle-class Californians.
Then, in the second half of the show, John Nichols, the National Affairs Correspondent for The Nation, talks with Alan about the homestretch of the presidential election. Just like 2016 and 2020, Donald Trump is in a virtual tie with the Democratic nominee. John reflects on the race in his home state of Wisconsin, which is once again one of the few swing states that will decide the election — and explains why the Harris campaign would be well-served by campaigning on a progressive economic and pro-labor platform.
Jacobin Radio with Suzi Weissman features conversations with leading thinkers and activists, with a focus on labor, the economy, and protest movements.
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