Pitchfork Economics with Nick Hanauer

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.

Moderated by Harold Meyerson from The American Prospect, the discussion features Representatives Ro Khanna, Delia Ramirez, and Jim Himes. They explore how Democrats can reclaim working-class trust through economic populism, moving away from ineffective incrementalism. The panel highlights the urgent need for affordable housing and support for working families, advocating for a bold approach to public policy. They also emphasize the importance of accountability and fresh leadership to resonate with an increasingly disillusioned electorate.

In this enlightening discussion, economist Mark Paul, an assistant professor at Rutgers University and author of "The Ends of Freedom," advocates for an Economic Bill of Rights. He challenges the notion of trickle-down economics, arguing that true freedom includes access to essentials like housing, healthcare, and education. Paul emphasizes the need to rethink freedom, shifting from a narrow view to one that guarantees basic rights for all. He draws inspiration from FDR's vision, calling for policies that support a fairer economy for everyone.

Nidhi Hegde, Executive Director of the American Economic Liberties Project, shares insights on the need for an anti-monopoly agenda to combat economic inequality. Harry Holzer, a labor market economist from Georgetown, delves into the complexities of post-COVID inflation and its implications on the economy. Mary Beth Maxwell emphasizes the importance of centering care in policy, advocating for a robust care agenda. The guests explore strategies for dismantling corporate power and empowering communities for a more inclusive economic future.

For decades, unions were more than just labor organizations—they were community anchors that shaped working-class identity and political loyalty. But what happens when an entire generation loses its economic and social foundation? The Rust Belt’s working-class voters were once a Democratic stronghold, but that’s no longer the case. Lainey Newman, co-author of Rust Belt Union Blues, joins Paul  and Goldy this week to explain how the erosion of union power helped shift working-class voters away from Democrats, and why economic fixes alone won’t be enough to win them back.Lainey Newman is an author and J.D. candidate at Harvard Law School. She is a graduate of Harvard College and a native of Pittsburgh, Pennsylvania.Social Media:@laineynewman.bsky.sociallaineynewman@LaineyNewmanFurther reading: Rust Belt Union Blues: Why Working-Class Voters Are Turning Away from the Democratic PartyWebsite: http://pitchforkeconomics.comInstagram: @pitchforkeconomicsThreads: pitchforkeconomicsBluesky: @pitchforkeconomics.bsky.socialTwitter: @PitchforkEcon, @NickHanauer, @civicactionYouTube: @pitchforkeconomicsLinkedIn: Pitchfork EconomicsSubstack: The Pitch

Les Leopold, a labor educator and author, reveals the harsh realities of corporate layoffs driven by Wall Street in a quest for profits. He discusses how stock buybacks and deregulation have shifted layoffs from signs of failure to strategic tools, alienating workers and exacerbating inequality. Leopold highlights the economic and social crises in areas like Mingo County, advocating for grassroots movements and innovative policies to restore worker rights. The conversation aims to empower the working class against corporate greed and inspire systemic change.

David Deming, a Harvard economist and author, sheds light on the concentrated power held by elite universities in shaping economic narratives. He argues that this 'Big Econ' monopolizes perspectives, stifling competition and innovation. The discussion critiques traditional economic theories, particularly regarding income inequality and minimum wage policies. Deming emphasizes the need for diverse voices in economics to address real-world challenges and promote effective societal change. His insights call for a reevaluation of how economics is taught and practiced.