Pitchfork Economics with Nick Hanauer

Wendy Carlin, a Professor at University College London and director of the CORE project, teams up with Suresh Naidu, a Columbia University economist, to transform how we learn economics. They discuss the failures of traditional curricula post-2008 crisis and highlight their problem-driven approach that addresses inequality, climate change, and innovation. Students engaged with CORE's methods show more interest and understanding compared to standard textbooks. Their passionate insights challenge the outdated economic perspectives taught in many classrooms.

Law professor Mehrsa Baradaran, an expert on banking law and inequality, joins the conversation to discuss the pervasive influence of neoliberalism. She describes how this ideology restructured our legal and political systems, turning them into tools for capital over democracy. Baradaran connects neoliberalism's roots to racial inequality and highlights how it operates like an algorithm, fueling systemic economic disparities. She proposes community-centered investment solutions to combat these entrenched issues, drawing from her own experiences.

Diane Coyle, Bennett Professor of Public Policy at the University of Cambridge and author of *The Measure of Progress*, joins the conversation to challenge traditional economic metrics. She argues that GDP misrepresents modern economies by equating harmful activities with positive contributions. Coyle advocates for a broader approach to measurement, including valuing unpaid work and using time-use surveys. She critiques the limitations of current dashboards and emphasizes the importance of understanding real progress to inform policy decisions.

Ben McKenzie, notable for his roles in The O.C. and Gotham, dives deep into the murky waters of cryptocurrency in his new book, Easy Money. He uncovers how a mix of hype and libertarian ideology inflated crypto into a trillion-dollar bubble while illuminating the psychology behind its cult-like following. Discussing its flaws as real money and comparing it to legalized gambling, McKenzie warns of the systemic risks posed by corporate-issued stablecoins. His insights reveal why many still cling to crypto despite its damaging realities.

Senator Cory Booker, a New Jersey U.S. Senator and former Newark mayor, dives into the controversial world of stock buybacks, revealing their role in exacerbating economic inequality. He discusses how these corporate strategies shift focus from long-term investments to short-term profits, harming workers along the way. Booker introduces the Workers' Dividend Act, aiming to ensure that employees share in buyback gains. He also addresses the political challenges of reforming corporate practices while advocating for broader policies to rebalance the economy.

Thea Lee, an economist and former Deputy Undersecretary for International Affairs at the U.S. Department of Labor, joins Todd Tucker, a political scientist and trade expert at the Roosevelt Institute. They debate the need for labor rights in trade and how past agreements have exploited workers. Lee highlights the success of USMCA in enforcing labor protection, while Tucker discusses how industrial policy can bolster domestic supply chains. Together, they argue for a shift towards worker-centered trade that strengthens both democracy and economic stability.

Juan Carlos Moreno-Brid, a renowned economist from UNAM and former ECLAC Deputy Director, shares insights on the impact of NAFTA on Mexico's economy. He reveals the startling contrast between soaring exports and stagnant wages, highlighting how Mexico’s dependency on the U.S. was solidified. Moreno-Brid discusses the lack of shared prosperity and the traps of export-led growth, as well as what a truly equitable U.S.–Mexico trade relationship could entail. His expert perspective sheds light on the seldom-heard reality of trade dynamics in North America.

In this conversation, Luke Savage, a Toronto-based journalist and author who critiques liberalism, dives deep into Canada–U.S. trade dynamics. He discusses how NAFTA reshaped economies, entrenching corporate power and driving inequality. Savage highlights the negative impacts of free trade on manufacturing jobs and democratic control. He argues for a new trade approach focusing on workers' rights and community interests, emphasizing the need for redesigned agreements that prioritize social, labor, and environmental standards.

Matthew C. Klein, an economist and author of "Trade Wars Are Class Wars," discusses how rising inequality distorts global trade dynamics. He argues that trade tensions are rooted in class struggle, not just national competition. Klein highlights how wealthy elites hoard wealth while workers suffer, exemplifying this with China's wage suppression. He also critiques current U.S. trade policies and calls for reforms to strengthen international financial support, stressing the urgent need to address these imbalances for a more equitable global economy.

César Hidalgo, director of the Center for Collective Learning and author of "Why Information Grows," discusses how knowledge, not tariffs, drives economic growth. He explains the distinction between knowledge and practical know-how, and why the future favors nations investing in research and human talent. Hidalgo argues that digital exports are often overlooked in trade stats and that tariffs are ineffective, prompting alternative strategies like export promotion. His insights highlight the need for a more dynamic understanding of trade and industrial policy.