Pitchfork Economics with Nick Hanauer

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.

Nat Dyer, an author and researcher specializing in global political economy, critiques David Ricardo's theory of comparative advantage, revealing its unrealistic foundations. He argues this elegant theory fueled harmful globalization and exploitation, perpetuating societal stagnation. Dyer discusses the political ramifications of trade policies under leaders like Trump and Biden, and advocates for a more nuanced understanding of economics that prioritizes real-world implications over abstract models.

Delve into the intricate world of trade policy, where it's not just about tariffs but the lives affected by decisions. Discover how globalization's promises often overlook the pain in struggling communities. Learn from experts about the true impact of trade dynamics on workforce recovery and economic inequality. The conversation challenges conventional wisdom, advocating for an inclusive trade approach that prioritizes people over profits and emphasizes cooperation over competitive advantage.

Mark Blyth, a political economist and professor at Brown University, dives into the intricacies of inflation and its real-world implications. He critiques traditional economic theories and examines how post-pandemic price hikes affect low-income households disproportionately. Blyth also distinguishes between 'good' and 'bad' inflation, explores the impact of corporate greed on prices, and discusses the need for innovative central bank strategies. His insights challenge misconceptions and provide a roadmap for more equitable economic policies.

Samuel Bowles, an economist and Professor Emeritus, challenges the traditional view of humans as solely rational, self-interested beings. He argues for a more nuanced understanding of human behavior that embraces cooperation and ethics over greed. Bowles highlights the need to abandon the flawed 'homo economicus' model, showcasing how emotions and moral considerations play a crucial role in decision-making. The discussion also touches on economic inequality and the complexities of language in shaping perceptions of workers, pushing for a reevaluation of policies to create a fairer society.

The promise of the American Dream—work hard, play by the rules, and you’ll get ahead—is unraveling before our eyes. In this Back-to-Basics episode, Christian H. Cooper and law professor Khiara Bridges join Nick and Goldy to posit whether economic mobility has ever truly existed, or if the system was rigged from the start. As wages stagnate, homeownership drifts out of reach, and inequality worsens, their conversation exposes how the American Dream has always been selectively granted and systematically denied. Amid today’s debates over “competitiveness” and “opportunity,” this episode is a reminder: the American Dream didn’t disappear by accident—it’s been taken. Understanding how is the first step toward winning it back. Christian Cooper is a derivatives trader, quantitative finance author, and commentator based in New York City. He directs Banking for a New Beginning, a collaboration between the Aspen Institute and the U.S. Department of State that connects central banks in emerging markets—such as Turkey, Tunisia, and Pakistan—with best practices to strengthen their financial systems Khiara M. Bridges is an anthropologist and professor of law at UC Berkeley School of Law, specializing in race, class, reproductive rights, and constitutional law. She is the author of The Poverty of Privacy Rights.  Social Media: @christiancooper Further reading:  The Poverty of Privacy Rights Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

In this engaging discussion, Matt Stoller, Director of Research at the American Economic Liberties Project and author of 'Goliath', reveals the insidious ways monopolies erode democracy. He highlights how concentrated corporate power not only warps markets but also fuels political control and authoritarianism. Stoller critiques traditional economic theories, examines the impact of monopolies on consumer welfare and income, and emphasizes the urgent need for collective action against corporate dominance to reclaim democratic freedoms.