Pitchfork Economics with Nick Hanauer

With inequality rising, housing out of reach, and young Americans falling further behind, some argue the American Dream is dead. But NYU professor Scott Galloway has a different take: America hasn’t fallen—it’s adrift. Originally recorded in late 2022, this episode features a candid conversation about what’s really hollowed out the middle class: generational wealth hoarding, runaway corporate consolidation, and a political system rigged for the rich. As billionaires push for yet another round of tax cuts and working families continue to struggle, Galloway’s message is more relevant than ever: America can still right the ship—but only if we change course. Scott Galloway is a clinical professor of marketing at NYU’s Stern School of Business, a bestselling author, and a tech entrepreneur. He’s the host of the Prof G Show and co-host of Pivot. Galloway is a leading voice on the need to rein in corporate power and rebuild the middle class. ⁠This episode originally aired December 6, 2022. ⁠ Social Media: ⁠@profgalloway.com⁠ ⁠@profgalloway⁠ Further reading:  ⁠Adrift: America in 100 Charts⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

As Republicans work at break-neck speed to push another round of massive tax cuts for the wealthy, we thought it would be a good idea to revisit our 2019 conversation with Bruce Bartlett, a Reagan policy adviser and key architect of the 1981 tax cuts. Bartlett explains how the trickle-down logic he once championed turned out to be economic snake oil, because tax breaks for the wealthy don’t grow the economy—they just grow inequality. Bruce Bartlett is an American historian and former economic adviser who helped draft the 1981 Reagan tax cuts. He served in senior roles under Presidents Reagan and George H.W. Bush, including at the Treasury Department and the Joint Economic Committee of Congress. Once a champion of supply-side economics, Bartlett is now a leading critic of trickle-down tax policy. This episode originally aired January 29, 2019. Social Media: @bartlettb.bsky.social @BruceBartlett Further reading:  Trump tax bill will add $2.4 trillion to the deficit and leave 10.9 million more uninsured, CBO says The secret saga of Trump’s tax cuts Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

The GOP’s new tax bill isn’t just a massive giveaway to the rich—it’s an all-out assault on SNAP, one of the most effective anti-poverty programs in the U.S. That’s because SNAP is more than just a program designed to end hunger. It’s also a powerful economic engine, stabilizing local economies as well as supporting retailers and farmers. Lily Roberts from the Center for American Progress joins us to break down how these proposed cuts will deepen poverty, weaken economic resilience, and hurt millions—especially in the very communities whose lawmakers are pushing them. Lily Roberts is the managing director for Inclusive Growth at American Progress. Her work focuses on raising wages, combating economic inequality linked to race, gender, and geography, and building wealth and stability for American families. Social Media: ⁠@lilyroberts.bsky.social⁠ Further reading:  ⁠SNAP Cuts Are Likely To Harm More Than 27,000 Retailers Nationwide⁠ ⁠SNAP Mythbusters Report⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

Lenore Palladino, an assistant professor of economics and public policy, critiques shareholder primacy to reveal how it has stifled innovation and exacerbated inequality. She argues for a corporate paradigm that prioritizes workers and communities over wealthy shareholders. The conversation dives into the implications of stock buybacks, the historical evolution of companies like General Electric, and the need for inclusive corporate governance. Palladino presents a bold vision for reshaping economic policy to serve the public good.

Samantha Jacoby, Deputy Director of Federal Tax Policy at the Center on Budget and Policy Priorities, dives into the implications of Trump's recent tax bills. She discusses how these policies have primarily benefited the ultra-wealthy while leaving working families struggling. The conversation highlights the missed promises of economic growth, the need for progressive tax reform by 2025, and the detrimental effects of trickle-down economics on income inequality and democracy. Jacoby's insights shed light on the urgent call for fiscal responsibility and equitable taxation.

Hal Singer, an economist and antitrust expert, delves into the phenomenon of greedflation and its potential resurgence with proposed tariffs. He reveals how corporations exploit supply chain issues to unjustly inflate prices, impacting consumer trust. Singer argues that traditional economic measures aren't enough to curb this behavior and emphasizes the urgent need for effective antitrust policies. By understanding the mechanics behind corporate pricing strategies, he warns of the political consequences if unchecked greed continues to shape the economy.

K. Sabeel Rahman, a legal scholar and former advisor in the Biden administration, joins to discuss the urgent need for a new approach to democracy. They dive into the repercussions of trickle-down economics and the failures of past governance. Rahman emphasizes that simply restoring old systems won't suffice; instead, we need innovative reforms to ensure government serves the people effectively. They explore how corporate interests have threatened democracy and advocate for structural changes that prioritize community needs and equity.

This week, we’re revisiting a critical conversation we had back in 2020 with author and historian Nancy MacLean, in which she exposes how today’s threats to democracy were decades in the making. Based on her groundbreaking book Democracy in Chains, MacLean traces how Nobel Prize-winning economist James Buchanan worked with billionaire donors to rig the rules of government to expand corporate power and protect extreme wealth. From public choice theory to voter suppression, this episode reveals the coordinated strategy to undermine democracy—and explains why understanding it is essential to fighting back. Nancy MacLean is an award-winning historian and the William H. Chafe Distinguished Professor of History and Public Policy at Duke University. Her book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America was a National Book Award finalist and winner of the Los Angeles Times Book Prize. ⁠This episode originally aired on July 21, 2020⁠. Social Media: ⁠@nancymaclean.bsky.social⁠ ⁠@NancyMacLean5⁠ Further reading:  ⁠Democracy in Chains⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠  Substack: ⁠The Pitch⁠

Mike Konczal, Senior Director of Policy and Research at the Economic Security Project and former Chief Economist for the National Economic Council, joins in to explore the concept of 'abundance.' He critiques the deregulatory themes in the recent book by Ezra Klein and Derek Thompson, highlighting that more isn't always better. Konczal dives into the complexities of housing policy and the failures of the market to address affordability. Their discussion challenges the notion that innovation alone can resolve economic inequalities, advocating for vital government intervention.

Mark Dunkelman, a fellow at Brown University and author of 'Why Nothing Works', dives into the reasons behind stagnation in public projects. He discusses the transformation of Seattle’s waterfront and critiques the phenomenon of 'vetocracy' that hampers progress. The conversation covers the struggle between bureaucratic inefficiency and the need for power in progressivism. They examine historical successes and contemporary failures in infrastructure, advocating for more thoughtful governance that balances ideals with practical outcomes.