Pitchfork Economics with Nick Hanauer How America Ceased to Be the Land of Opportunity (with Yoni Appelbaum)
Feb 4, 2025
Yoni Appelbaum, a deputy executive editor of The Atlantic and author of "Stuck," dives into America's evolving landscape of opportunity. He discusses how zoning laws and economic policies have locked many into communities, preventing upward mobility. The episode highlights the historical context behind rising housing costs and their impacts on family relocation. Appelbaum emphasizes the need for housing reforms to restore accessibility and argues that mobility is essential for fostering prosperity, especially for immigrant families.
AI Snips
Chapters
Books
Transcript
Episode notes
Seattle vs. Brooklyn Housing
- Nick Hanauer bought a Seattle house in 1997, finding it expensive then, but it's now worth far more.
- He contrasts this with his 1988 Brooklyn rental, which cost the same as his Seattle home then but would now be triple the price.
Declining American Mobility
- Americans historically moved more than any other population, with rates as high as one-third annually.
- This mobility has drastically declined, impacting opportunity and contributing to feelings of being stuck.
Mobility Drives Success
- Mobility and prosperity are linked, with children of immigrants succeeding largely due to relocation to opportunity-rich areas.
- Moving encourages trying new things, shifting people from stable to expanding industries.
