Pitchfork Economics with Nick Hanauer

It’s been a little over a year since President Biden signed the CHIPS and Science Act, which invested $231 billion into semiconductor manufacturing in the United States, into law. Despite the fact that those investments are already creating economic growth around the country, most Americans don’t recognize the impact that the CHIPS Act is already having on the national economy. Today, Ronnie Chatterji, the former CHIPS Coordinator at the White House, joins the pod to provide a better understanding of what the CHIPS Act really does and why it matters.Aaron Chatterji is the Duke University Professor of Business and Public Policy. He was previously the White House CHIPS Coordinator and Acting Deputy Director of the National Economic Council in the Biden Administration.Twitter: @RonnieChatterjiCHIPS Act: National security is priority for funding, analyst says https://finance.yahoo.com/video/chips-act-national-security-priority-150516934.html Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

EPI President, Heidi Shierholz, discusses the wage shortage disguised as a labor shortage. Raising wages in industries like restaurants proves effective. The negative consequences of reducing unemployment benefits are explored. Potential lasting changes to the labor market and the impact of unemployment insurance on labor shortages are examined.

Paul Niehaus, co-founder of GiveDirectly, discusses the impact of giving cash directly to people living in extreme poverty. He explores the logistics of implementing digital cash transfers in Sub-Saharan Africa and the positive outcomes it can have on nutrition, teen pregnancies, child marriages, and mental health. The podcast also explores the feasibility of eradicating global poverty through cash transfers, government partnerships and innovations during the pandemic, and the role of higher tax rates in fighting poverty.

Daron Acemoglu discusses the impact of technology on society. He emphasizes the power dynamics in technological progress and the need for shared benefits. The podcast explores historical examples, the Industrial Revolution's effects, and proposes policy solutions for a more inclusive economy.

Nick and Goldy answer more of your questions! What happens to current economic systems if world population growth goes to zero? Should I feel guilty for wanting my stocks to do well? What could be a good methodology to measure how progressive a tax is? And more!If you have questions for a future “Ask Me Anything” episode, leave us a voicemail at 731-388-9334.Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Today we’re talking about wages—specifically, how the widespread suppression of wages is destroying the American economy. Author, professor, and fellow traveler Michael Lind just published a new book titled “Hell to Pay” that argues America is in need of a revolution in the way we think about work and wages. Lind warns that if American worker power isn’t restored to its previous highs, there’ll be hell to pay. (Sounds a bit like “the pitchforks are coming,” doesn’t it?)Michael Lind is the author of more than a dozen books. He is a columnist for Tablet and has been an editor or staff writer for The New Yorker, Harper’s, The New Republic, and The National Interest. He’s one of the founders of the New America Foundation. He has taught at Harvard and Johns Hopkins and is currently a professor of practice at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.Hell to Pay https://www.penguinrandomhouse.com/books/690656/hell-to-pay-by-michael-lind “Hell To Pay”: Michael Lind On A True Good Jobs Strategy https://www.forbes.com/sites/michaelbernick/2023/05/16/hell-to-pay-michael-lind-on-a-true-good-jobs-strategy/?sh=c4e0c584d160 Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Industrial Policy (IP) has dominated conversations in economic and political circles thanks to President Biden’s big investments in manufacturing, infrastructure, and working Americans. But according to today’s guest, development economist Isabel Estevez, the conversation around IP is too narrow. IP is not just about manufacturing and clean energy, she argues—smart IP also encompasses policies that improve outcomes for people, like reducing child poverty and cleaning our drinking water.Isabel Estevez is the Deputy Director of Industrial Policy and Trade at the Roosevelt Institute. She conducts research at the intersection of industrial and trade policy, with a focus on the transformation and decarbonization of heavy industries, such as steel and aluminum.Twitter: @Isabel_Estevez_Industrial Transformations https://www.phenomenalworld.org/analysis/industrial-transformations The American Industrial Policy Series https://rooseveltinstitute.org/think-tank/climate-and-economic-transformation/the-american-industrial-policy-series Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Over the last decade, private equity firms wiped out nearly 600,000 jobs in the retail sector by taking over and bankrupting major retailers like Toys R Us and Payless Shoes. But in that same time, private equity also destroyed companies in healthcare, housing, medicine, and many other industries that affect our everyday lives. Today’s guest, federal prosecutor Brendan Ballou, explains how we can stop private equity’s plan to pillage America.Brendan Ballou is a federal prosecutor and served as Special Counsel for Private Equity in the Justice Department's Antitrust Division. Previously, he worked in private practice, and before that, in the National Security Division of the Justice Department, where he advised the White House on counterterrorism and other policies.Twitter: @brendanballouPlunder: Private Equity's Plan to Pillage America https://www.hachettebookgroup.com/titles/brendan-ballou/plunder/9781541702103Private Equity is Out of Control and Looting America. This Prosecutor Says We Can Fix It. https://www.ineteconomics.org/perspectives/blog/private-equity-is-out-of-control-and-looting-america-this-prosecutor-says-we-can-fix-itWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

“Bidenomics” is closely aligned with many—probably even most—of the middle-out economic principles that we discuss on this podcast every week. Much to our surprise and delight, Joe Biden has become the first President in 40 years to reject trickle-down economics in favor of building the economy from the middle out, and the results speak for themselves: Since the pandemic began, America has seen the strongest growth of any leading economy in the world. The economy has added 13 million jobs, inflation has fallen for 12 straight months, and a recession is no longer on the horizon. National Economic Council Deputy Director Bharat Ramamurti returns to the show to explain why Bidenomics has been so successful.Bharat Ramamurti is the Deputy Director of National Economic Council (NEC) for The White House. He previously served as a Member of the Congressional Oversight Commission for the CARES Act, and as the Managing Director of the Corporate Power program at the Roosevelt Institute. Twitter: @BharatRamamurtiBidenomics is Working https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/28/bidenomics-is-working-the-presidents-plan-grows-the-economy-from-the-middle-out-and-bottom-up-not-the-top-down The Transformation at the Heart of Biden’s Middle-Out Economic Agenda https://prospect.org/economy/2023-02-09-biden-middle-out-agenda Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Low pay is obviously terrible for workers, but a growing body of research proves that it’s bad for businesses, too. Smaller paychecks lead to higher turnover, decreased productivity, and poor sales. Will low-wage employers in the grocery, retail, and restaurant industries ever understand that their employees are their most important asset? Zeynep Ton hopes so. She’s written a book explaining how labor investments can pay for themselves, and she joins us today to explain why better-paying jobs are good for everyone in the long run.Zeynep Ton is a Professor of the Practice in the Operations Management group at MIT Sloan School of Management. She is also president of the nonprofit Good Jobs Institute, where she works with companies to improve their operations in a way that satisfies employees, customers, and investors alike.Twitter: @zeyneptonGood Jobs are Good Business https://time.com/6285516/good-jobs-good-businessThe Case for Good Jobs: How Great Companies Bring Dignity, Pay, and Meaning to Everyone’s Work https://store.hbr.org/product/the-case-for-good-jobs-how-great-companies-bring-dignity-pay-and-meaning-to-everyone-s-work/10579Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer