This week, Nick and Goldy welcome sociologist Nikhil Goyal to discuss his new book, Live to See the Day: Coming of Age in American Poverty, which highlights the deep-rooted effects of generational poverty in America by focusing on the experiences of three young people in Kensington, Philadelphia. Their stories illustrate how systemic inequality and poor economic policies perpetuate a cycle of despair and intergenerational poverty. Goyal explains the limitations of traditional anti-poverty solutions like promoting higher educational attainment. Instead, he spotlights the need for direct cash transfers, robust public goods, and a public option for programs like healthcare, affordable housing, or even publicly owned grocery stores that directly address the causes of poverty.Nikhil Goyal is a sociologist and former senior policy advisor on education and children for Senator Bernie Sanders on the Senate Committee on Health, Education, Labor, and Pensions and Committee on the Budget. He also developed a tuition-free college program for incarcerated people and correctional workers in Vermont. He is the author of the book LIVE TO SEE THE DAY: Coming of Age in American Poverty.Twitter: @drgoyalnikhilFurther reading: LIVE TO SEE THE DAY: Coming of Age in American PovertyWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEcon, @NickHanauer, @civicactionInstagram: @pitchforkeconomicsThreads: pitchforkeconomicsYouTube: @pitchforkeconomicsSubstack: The Pitch

In a celebratory milestone, hosts reflect on their journey and the inspiring motivations behind meaningful work. They explore how progressive activists prioritize impactful contributions over financial gain. Guests share insights on legislative achievements that tackle economic inequality and gun violence. The importance of building a community through authentic conversations is highlighted. Personal stories shed light on the responsibility of privilege and the drive for social change, emphasizing the necessity of addressing systemic inequalities.

In this enlightening discussion, MIT economist Anna Stansbury, known for her focus on labor economics and wage inequality, dives into the troubling lack of socioeconomic diversity within the economics profession. Stansbury reveals how this homogeneity stifles innovative economic solutions and perpetuates social inequalities. They discuss barriers that marginalized groups face in accessing economics education and the biases of neoliberal frameworks that undermine equitable growth. The conversation emphasizes the pressing need for diverse perspectives to better address the realities of lower-income individuals.

This week, Nick and Goldy talk to esteemed economist Colin Mayer, author of the book Capitalism and Crises: How to Fix Them, to explore the deep-seated issues plaguing modern capitalism, including rising inequality and environmental degradation. Mayer argues that the current profit-driven mindset of corporations often leads to societal harm, and he advocates for a paradigm shift towards a model where businesses profit by solving real human problems rather than creating them. Their conversation dissects the historical evolution of corporate responsibility, critiques neoliberal economics, and proposes solutions that redirect corporate focus toward societal benefit, and the urgent need for a more equitable economic structure that uplifts the middle class.Colin Mayer is a distinguished academic in the field of finance and economics. He is the Peter Moores Professor of Management Studies at the Saïd Business School at the University of Oxford. With a background in economics and finance, Mayer has conducted extensive research on corporate finance, governance, and the role of business in society. His work has been widely published in academic journals, and he is the author of several books, including "Capitalism and Crises." Further reading: Capitalism and Crises: How to Fix ThemWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEcon, @NickHanauer, @civicactionInstagram: @pitchforkeconomicsThreads: pitchforkeconomicsYouTube: @pitchforkeconomicsSubstack: The Pitch

Kamala Harris, the first female Vice President of the United States, joins the conversation to explore the new economic paradigm of the Democratic Party, emphasizing a 'middle-out' approach. She stresses that a strong middle class is key to a strong America. The discussion highlights the party's shift from trickle-down policies to ones that prioritize working families. The dynamic between Republican and Democratic strategies is analyzed, alongside the potential economic benefits of progressive policies that advocate for higher wages and public investment.

Yannet Lathrop, a vital advocate for the Fight for $15 movement, and Dr. T. William Lester, an expert in wage-related economic issues, delve into the transformative impact of the decade-long initiative. They discuss how the movement has raised wages for millions and narrowed the racial wealth gap, particularly benefiting communities of color. The duo challenges outdated economic myths, illustrating how higher minimum wages can foster job growth and enhance worker equity. Their insights emphasize the ongoing relevance of wage increases as a central issue in today’s economic discourse.

Martin Wolf, chief economics commentator at the Financial Times, discusses the fragile relationship between capitalism and democracy in light of his new book. He highlights how rising inequality and economic policies benefiting the wealthy threaten democracy and the middle class. Wolf advocates for stronger social safety nets and examines immigration's impact on labor markets and societal cohesion. He draws on personal experiences to emphasize the importance of advocating for economic and political change to restore balance in society.

Michael Graetz, an esteemed author and expert in tax policy, dives into his provocative new book on the anti-tax movement's profound influence on American policy. He explores the movement's historical roots and its intertwining with issues of race and economic theory. Graetz advocates for innovative tax reforms like a carbon tax, aiming to address wealth inequality and promote a more equitable tax system. The conversation also critiques the complex dynamics of tax sentiment in the U.S. and its implications for public services and infrastructure.

David Goldstein, a Senior Fellow at Civic Ventures, and Paul Constant, a writer at the same organization, share their summer reading list packed with thought-provoking economic and political books. They discuss the intersection of history and economics, highlighting fascinating reads like 'In This Economy?' and 'End Times'. The duo unpacks Bill Clinton's economic legacy and critiques conventional ideas in works like 'The Power Broker' and 'The Road to Freedom'. They encourage supporting local bookstores and rethinking retirement in a changing economy.

In this engaging discussion, Lindsay Owens, Executive Director of the Groundwork Collaborative, sheds light on corporate profiteering amidst the pandemic. She reveals how rising corporate profits are tied to decreased competition and increased market concentration. Lindsay emphasizes that these dynamics have given companies unprecedented pricing power, leading to unjustified price hikes for consumers. She advocates for policy changes to enhance competition and transparency, aiming for a fairer economic landscape that prioritizes the consumer.