Pitchfork Economics with Nick Hanauer

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.

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.