Pitchfork Economics with Nick Hanauer

Former Federal Reserve economist Claudia Sahm joins the podcast to discuss the Sahm Rule, an economic indicator predicting recessions. They explore the importance of wage gains and valuing workers, the impact of COVID, and misconceptions about the rule. They also highlight recent wage compression and decreased economic inequality for workers at the bottom end of the scale.

No matter which indicator you’re using, American inequality has been increasing in recent decades. Whether you’re measuring the growing wealth gap, the stagnant wages of the middle class, or the concentration of wealth and power among a small group of elites, every indicator unfailingly suggests that inequality is getting worse. Nobel Laureate Angus Deaton joins the podcast to talk about his recent book on the subject, Economics in America: An Immigrant Economist Explores the Land of Inequality, in which he explains how his own experience as an immigrant has shaped his understanding of American inequality and its impact on upward mobility.Angus Deaton is a renowned economist and author known for his groundbreaking work in the fields of poverty, inequality, and health. He is a 2015 Nobel Prize Laureate and is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs at Princeton University.Twitter: @DeatonAngusEconomics in America: An Immigrant Economist Explores the Land of Inequality https://bookshop.org/p/books/economics-in-america-an-immigrant-economist-explores-the-land-of-inequality-angus-deaton/19785471?ean=9780691247625 Nick's new book, Corporate Bullsh*t, is out now! https://www.corporatebsbook.com Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Nina Mast and Jennifer Sherer discuss the rise of child labor violations and the dangerous trend of rolling back child labor protections. They explore the complexities of child labor, the youth subminimum wage, and the importance of educating high school students about their rights at work. The speakers emphasize the need for changes at the federal and state level to strengthen protections and promote education.

Peter Turchin, author of 'End Times: Elites, Counter-Elites, and the Path of Political Disintegration', joins the podcast to discuss the causes of political communities falling apart. They explore extreme inequality, wealth redistribution, and the urgency of preventing political disintegration. The speaker also discusses a sense of impending doom and encourages action to prevent the collapse of civilization.

Joan Walsh and Donald Cohen join the show to discuss their book "Corporate Bullsh*t," exposing the lies politicians and business interests tell to protect their power and profits. They explore the social and psychological dynamics behind arguments against progressive policies, including moral defenses of child labor. The podcast also delves into how industries create doubt and spread lies, as well as the motivations behind the authors' work. Listeners are urged to pre-order the book to uncover corporate manipulation.

John a. powell, the Director of the Othering & Belonging Institute, discusses the importance of belonging in creating a healthy community and a thriving economy. Topics include the concentration of power, fear's influence on political discourse, targeted universalism, flaws in neoclassical economics, and the impact of income loss and othering.

Economist and author Elizabeth Anderson discusses how neoliberalism has turned the work ethic against workers, exploring inadequate compensation, the evolution of the work ethic, meaning of work in a capitalist economy, negative impact of neoliberalism on professional classes, support for workers and labor union law reforms, and the need to honor workers and democratize work.

Economist Mike Konczal from the Roosevelt Institute sets the record straight on inflation, explaining the causes behind the recent decline in prices. The podcast explores the impact of inflation on American families, controversies surrounding the target inflation rate, and the role of the Federal Reserve. It also discusses stock buybacks, low productivity, hopes for economic recovery, and the need for fiscal policy in controlling the economy.

World-renowned philosopher Michael Sandel discusses the concept of meritocracy and its role in creating deep polarization in society. He explores the dark side of meritocracy, the pitfalls of technocratic governance, the damaging consequences of prioritizing capital efficiency, the unraveling moral fabric of community, and the toxic influence of meritocracy on our culture.

Maggie Goodlander, Justice Department representative, joins the podcast to discuss the proposed guidelines on mergers. The conversation dives into the negative impacts of market concentration and the importance of competition. The new Draft Merger Guidelines are explored, highlighting the evaluation of market realities. The connection between dictatorship and monopoly power is also discussed. The economic consequences of the guidelines are emphasized, focusing on the need for a democratic president to prioritize competition and market structure.