Pitchfork Economics with Nick Hanauer

In July 2021, President Biden signed an executive order directing government agencies to rewrite policies to encourage competition in the U.S. economy. Returning guest David Dayen has compiled 18 months’ worth of actions resulting from this order. After more than four decades of unrestrained corporate power, Dayen explains, competition is finally returning to the economy—and that’s good news for everyone.David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His most recent book is ‘Monopolized: Life in the Age of Corporate Power.’Twitter: @ddayenA Pitched Battle on Corporate Power https://prospect.org/economy/2023-01-25-pitched-battle-corporate-power 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

When the Biden Administration announced last year that they would forgive up to $20,000 student loan debt per individual, millions of people celebrated—and for good reason. The student loan debt that Americans carry has ballooned to $1.8 trillion in recent decades, threatening the economic security of American households from coast to coast and up and down the income scale. Unfortunately, the Biden forgiveness plan has been tied up in several lawsuits, and the Supreme Court will hear oral arguments for these lawsuits at the end of February, with a final decision expected later this spring.As the conversation over student loans heats back up, we’re revisiting our conversation with Associate Professor Fenaba Addo. Addo helps us explore the merits and shortcomings of student debt cancellation, and explains why canceling student debt would actually be good for the economy. You’ll also hear from Pitchfork listeners who share how student loan forgiveness would change their lives. This episode originally aired on December 22, 2020.Fenaba Addo is an Associate Professor of Public Policy at University of North Carolina-Chapel Hill. She specializes in debt and racial wealth inequality. Her first book, A Dream Defaulted: The Student Loan Crisis Among Black Borrowers, is available now by Harvard Education Press.Twitter: @FenabaAddoThe Biden-Harris Administration’s Student Debt Relief Plan Explained https://studentaid.gov/debt-relief-announcement Is Student Debt Forgiveness Still Going to Happen? https://www.nerdwallet.com/article/loans/student-loans/debt-relief-lawsuits-qa Forget fairness: Canceling all student debt makes great economic sense for America — here's why https://www.businessinsider.com/why-canceling-student-debt-makes-great-economic-sense-for-america-2020-12 Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Oxford economists are currently running the world’s first Universal Job Guarantee program in Austria, and so far the results are very promising. When unemployed people have guaranteed access to training and/or a job, those people feel more in control of their lives and become more financially secure…and happier, too. The study’s co-authors join us to explain why they believe a guaranteed jobs program like this could work in other countries—including the United States.Maximilian Kasy is a Professor of Economics at the University of OxfordLukas Lehner is an Economist at the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford) and the Department of Social Policy and Intervention, University of OxfordTwitter: @maxkasy, @LukasLehner_World’s first universal job guarantee boosts wellbeing and eliminates long-term unemployment https://www.inet.ox.ac.uk/news/worlds-first-universal-job-guarantee-boosts-wellbeing-and-eliminates-long-term-unemploymentDoes the future of work include a Federal Jobs Guarantee? https://pitchforkeconomics.com/episode/does-the-future-of-work-include-a-federal-jobs-guarantee-with-pavlina-tcherneva-and-representative-ro-khannaWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Exactly one decade ago, activists and civic leaders launched the Fight for $15. It’s hard to recall now, but the idea was wildly controversial at the time—Forbes called Nick’s support of a $15 minimum wage “near-insane,” for example. A new report from the National Employment Law Project (NELP) examines the legacy of the movement and all that it has accomplished in the last 10 years. Two of the report’s authors join us to discuss the Fight for $15’s impact beyond growing paychecks, including its effect on the racial wealth gap, union participation, and the economy overall. Yannet Lathrop is a Senior Researcher and Policy Analyst for the National Employment Law Project. Dr. T. William Lester is Professor and Acting Chair of Urban and Regional Planning at San José State University and Research Professor at UNC Chapel Hill. Twitter: @NELPnewsTen-Year Legacy of the Fight for $15 and a Union Movement https://www.nelp.org/publication/10-year-legacy-fight-for-15-union-movement/ Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

We can’t tear down the existing economic framework and replace it with a better one without first telling a persuasive story about how the economy actually works. And few people in the world are more compelling storytellers than science fiction author Kim Stanley Robinson. In his speculative near-future novel The Ministry for the Future, Stan explains complicated economic theories better than most economists. He joins Nick and Goldy for a fascinating conversation about the role of economics in both climate change fiction and climate change reality.Kim Stanley Robinson is a New York Times bestseller and winner of the Hugo, Nebula, and Locus awards. He is the author of more than twenty books, including the bestselling Mars trilogy and the critically acclaimed New York 2140 and The Ministry for the Future.Facebook: Kim Stanley RobinsonThe Ministry for the Future https://www.hachettebookgroup.com/titles/kim-stanley-robinson/the-ministry-for-the-future/9780316300148Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

For most of last year economists and pundits engaged in a long, circular debate about why inflation was spiking around the world, and who was to blame for those skyrocketing prices. Economic experts at the Roosevelt Institute (including past guest Joseph Stiglitz) have finally revealed the root causes of global inflation in a new report. Stiglitz’s co-author, Ira Regmi, shares what they’ve learned.Ira Regmi is the Program Manager for the Macroeconomic Analysis program at the Roosevelt Institute. They support the team’s work on fiscal and monetary policy, unemployment, and growth to ensure an economy that works for all.Twitter: @Regmi_IraThe Causes of and Responses to Today’s Inflation https://rooseveltinstitute.org/publications/the-causes-of-and-responses-to-todays-inflation  Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Nick and Goldy kick off the New Year by answering more of your questions! Has there ever been a time period with strong deflation? Should folks prepare for an upcoming recession? Why aren’t we allowed to question the free market? And much more. If you have questions for a future “Ask Me Anything” episode, leave us a voicemail at 731-388-9334.Don’t forget to follow the show wherever you listen and if that happens to be on Apple or Spotify, please give us a 5 star rating or review!Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Out of all the topics we discussed in 2022 one stayed at the top of headlines all year long: abortion. We spoke to Professor Caitlin Myers in February of this year, months before the Supreme Court overturned Roe v Wade. She shared data from her research and provided examples of the causal links between abortion access and economic outcomes in women’s lives. It’s an illuminating episode, and one that will be just as relevant in 2023 as it was for all of 2022.This episode originally aired on February 22, 2022.Caitlin Knowles Myers is the John G. McCullough professor of economics at Middlebury College and Co-Director of the Middlebury Initiative for Data and Digital Methods. She’s known for her recent research on the impact of contraception and abortion policies in the United States.Twitter: @Caitlin_K_MyersOpinion: Economists can tell you that restricting abortion access restricts women’s lives https://www.washingtonpost.com/opinions/2021/11/29/abortion-economics-supreme-courtLack of abortion access will set US women back, economists warn https://www.ft.com/content/61251b31-0041-461c-bd33-aacf2f13fe10What can economic research tell us about the effect of abortion access on women’s lives? https://www.brookings.edu/research/what-can-economic-research-tell-us-about-the-effect-of-abortion-access-on-womens-lives The economic reality behind a Mississippi anti-abortion argumenthttps://www.nytimes.com/2021/12/02/business/mississippi-abortion-law-economy.htmlThe Economic Consequences of Being Denied an Abortion https://www.nber.org/papers/w26662The Turnaway Study https://www.ansirh.org/research/ongoing/turnaway-study Website: https://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Judging by the amount of downloads for this episode, we’d say it was our listeners’ favorite from the past year. “Did Corporate Greed Break the Supply Chain?” with Rakeen Mabud from the Groundwork Collaborative exposes how the supply chain was actually designed: not for reliably getting goods to people, but for maximizing profit. Unfortunately, that’s something many Americans came to realize in 2022 as prices skyrocketed and store shelves were left empty.This episode originally aired on March 22, 2022.Rakeen Mabud is the Chief Economist and Managing Director of Policy and Research at the Groundwork Collaborative.Twitter: @rakeen_mabudHow We Broke the Supply Chain https://prospect.org/economy/how-we-broke-the-supply-chain-intro/Corporations Raise Prices as Consumers Spend ‘With a Vengeance’https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.htmlOpinion: Larry Summers Shares the Blame for Inflation https://www.nytimes.com/2022/02/28/opinion/larry-summers-inflation.htmlInflation causing financial strain for nearly half of U.S. households, poll findshttps://www.washingtonpost.com/business/2021/12/02/inflation-gallup-financial-hardship/Stock Buybacks Beat Capital Spending for Many Big Companieshttps://www.wsj.com/articles/stock-buybacks-beat-capital-spending-for-many-big-companies-11631611802The stock market is punishing Walmart and Target for keeping costs low while the rest of the corporate sector prioritizes profits and makes inflation worsehttps://www.businessinsider.com/walmart-target-keep-prices-low-corporations-prioritize-profits-inflation-worse-2021-11Website: https://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

A new report from the Economic Policy Institute looks into the salary and stock packages of America’s most overcompensated corporate titans and the numbers are staggering. According to journalist Mark Kreidler, who recently covered the report for Capital + Main, CEO paychecks are a huge contributor to inequality. He joins the podcast to share why more people would do better if CEOs were paid less.We want your questions for another “Ask Me Anything” episode with Nick and Goldy! Call and leave us a voicemail at 731-388-9334.Mark Kreidler is a California-based writer, journalist, and broadcaster. He’s the author of three books, including Four Days to Glory.Twitter: @MarkKreidlerFor America’s Top-Ranked CEOs, Too Much Is Never Enoughhttps://capitalandmain.com/for-americas-top-ranked-ceos-too-much-is-never-enough CEO pay has skyrocketed 1,460% since 1978https://www.epi.org/publication/ceo-pay-in-2021Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer