Pitchfork Economics with Nick Hanauer

Terri Gerstein, Director of the Labor Initiative at NYU, discusses the chilling truth behind wage theft, its impact on hardworking Americans, and the need for stronger enforcement. They explore prosecuting corporations, challenges in holding individuals accountable, and the alarming prevalence of wage theft in various industries. The episode highlights the vital role of legal intervention in combating worker exploitation and advocating for fair wages.

Preston Mui, Senior Economist at Employ America, recently authored a report titled "The Dream of the 90s is Alive in 2024: How Policy Can Revive Productivity Growth." The report offers a blueprint for policymakers seeking to emulate the successes of an unparalleled period of productivity in the United States. Mui joins us to examine and reflect on the policy decisions which drove the strong productivity growth of the 1990s, and he also identifies dynamic new strategies for revitalizing American production in the present. Preston Mui is a Senior Economist at Employ America, a macroeconomic policy research and advocacy organization committed to achieving and sustaining full employment outcomes.Twitter: @PrestonMuiThree Motivations for Interest Rate Normalization: A Playbook for Fed Policy in 2024The Dream of the 90's is Alive in 2024: How Policy Can Revive Productivity GrowthPreston Mui's thread on the “Dream of the 90's” series and report by Employ America Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Today, Arin Dube, Professor of Economics at the University of Massachusetts Amherst, joins us to discuss his latest research, which suggests that the American labor market is undergoing a remarkable transformation. The widespread wage inequality that rapidly expanded between 1980 and 2019 is finally reversing, and American paychecks are growing again—especially at the bottom end of the income scale. In this enlightening conversation, Dube explains how and why the labor market has changed, how that's affecting wages, and how it all contributes to a virtual cycle of middle-out economic growth.Arin Dube is a Professor of Economics at the University of Massachusetts Amherst, well-known for his expertise in labor economics and public policy and his groundbreaking empirical research on minimum wage. His work often involves empirical analysis and utilizes large-scale datasets to provide evidence-based insights into the effects of various policy interventions. Dube's research has been widely recognized and cited, contributing to the ongoing discussions among policymakers and economists around labor market dynamics and policy design.Twitter: @arindubeThe Unexpected Compression thread https://twitter.com/arindube/status/1724147807563477440 NBER Working Paper https://www.nber.org/system/files/working_papers/w31010/w31010.pdf Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Analyzing the true impact of Trump's tax plan on the economy, revealing how the wealthiest individuals and corporations were the primary beneficiaries, while most Americans saw no economic benefit. Discussion on the need for progressive tax policies and congressional action to address wealth inequality and failed promises of tax cuts. Exploring potential tax reforms in 2025 and debunking the myth of self-paying tax cuts.

Exploring the evolution of middle-out economics from a new theory to mainstream practice, with insights from economists, researchers, and former officials. Discussing the impact of middle-out economics on economic growth, antitrust enforcement, public satisfaction, infrastructure investments, workers' rights, and advocating for a more equitable economic approach.

Labor economist Aaron Sojourner discusses why Americans are dissatisfied with the strong economy, exploring the impact of news coverage on consumer sentiment and the disconnect between economic indicators and public perception. The conversation delves into the influence of social media, media coverage shaping perceptions, and the complexities of interpreting economic sentiments.

While the average American worker is subject to a progressive income tax system where tax rates increase as income rises, the wealthy often exploit a range of loopholes and deductions that significantly reduce their tax burden—sometimes to the point where the biggest corporations and one-percenters pay nothing at all. David Cay Johnston, a tax policy expert and former investigative journalist for the New York Times, joins us today to help unravel the complexity of the American tax system, which has functionally created two different tax systems: One for the wealthy and powerful and one for everyone else.David Cay Johnston is an award-winning investigative journalist and author known for his expertise in tax policy and economic inequality. Johnston worked as a tax reporter for The New York Times for over a decade. At the Times, he won the Pulitzer Prize for Beat Reporting in 2001 for his coverage of tax loopholes and corporate tax evasion. Throughout his career, Johnston has authored several critically acclaimed books, including "Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else" and “Divided: The Perils of Our Growing Inequality.” Twitter: @DavidCayJThe Whiteness of Wealth: How the Tax System Impoverishes Black Americans--and How We Can Fix It by Dorothy Brownhttps://bookshop.org/a/101360/9780525577331 More from David Cay Johnston: “Alvin Bragg’s roadmap to convict Donald Trump”https://www.nydailynews.com/2023/01/08/alvin-braggs-roadmap-to-convict-donald-trump/Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Elsehttps://bookshop.org/a/101360/9781591840695 Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)https://bookshop.org/a/101360/9781591842484 Divided: The Perils of Our Growing Inequalityhttps://bookshop.org/a/101360/9781595589231 Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Ganesh Sitaraman joins us today to discuss his new book, Why Flying Is Miserable And How to Fix It. Air travel has become an increasingly frustrating experience, with countless horror stories of cancellations, delays, lost baggage, cramped seats, and poor service. For most of the 20th century flying was luxurious and fun, so it’s especially baffling that air travel is plagued by these problems in the 21st century. Sitaraman delves into the reasons behind this dismal state of affairs, tracing it back to a deliberate choice made by elected leaders in the 1970s to roll back regulations, supposedly in order to increase competition and improve the experience of flying for everyone. After enduring half a century of turbulence caused by deregulation, people are fed up with the state of air travel, and Sitaraman gives us some insight into how we can begin to fix it.Ganesh Sitaraman is a law professor and the director of the Vanderbilt Policy Accelerator for Political Economy and Regulation. He was previously a senior advisor to Senator Elizabeth Warren on her presidential campaign and is a member of the Administrative Conference of the United States and the FAA’s Commercial Space Transportation Advisory Committee. Sitaraman is the author of several influential books, including "The Crisis of the Middle-Class Constitution," "The Public Option: How to Expand Freedom, Increase Opportunity, and Promote Equality," and his most recent book, “Why Flying Is Miserable And How to Fix It.”Twitter: @GaneshSitaramanWhy Flying Is Miserable And How to Fix It https://bookshop.org/a/101360/9798987053584 Book Website https://globalreports.columbia.edu/books/why-flying-is-miserable/More from Ganesh Sitaraman: The Atlantic - Airlines Are Just Banks Now https://www.theatlantic.com/ideas/archive/2023/09/airlines-banks-mileage-programs/675374/The Crisis of the Middle-Class Constitution https://bookshop.org/a/101360/9781101973455Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

President Biden’s economic policies mark a paradigm shift away from the trickle-down economics that have held sway over Washington DC for the past 40 years. Bidenomics recognizes that a strong and inclusive economy grows from the middle class outwards, centering working Americans and their families rather than relying on a top-down approach that benefits the wealthy first and foremost. In this episode, President Biden’s chief economic advisor, Jared Bernstein, joins us to unpack the key ideas behind this middleout understanding of how the economy really works, and to explain how Bidenomics is reshaping the economy to truly work for all Americans—not just a wealthy few at the top. After helping to engineer a best-in-the-world economic recovery from the pandemic, Bernstein explains what's next for Bidenomics and the American economy.Jared Bernstein is a prominent economist and author who is widely recognized  for his expertise in labor economics and income inequality. As the chair of the United States Council of Economic Advisers, he serves as President Biden’s top economic adviser. From 2009 to 2011. From 2009 to 2011, he served as Chief Economist and Economic Advisor to then-Vice President Biden. Bernstein is a prolific writer and commentator whose work emphasizes the importance of addressing income inequality and promoting policies that benefit working families and the broader economy.Twitter: @econjared46Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Over the next two decades, $30 trillion of wealth is expected to be transferred from Baby Boomers to their heirs. Journalists and financial experts have been referring to this event as the “Great Wealth Transfer,” and it's important that we understand the policies that make such a monumental transferral of generational wealth possible—not to mention the tremendous economic and societal implications of this unprecedented economic activity. In this episode, we have the privilege of speaking with David Stasavage, a renowned expert in taxation, inequality, and political economy, to help us unpack the origins and rationale behind the creation of the inheritance tax, and to explore the policies we can use to lessen economic inequality and put some of the Great Wealth Transfer to work for all Americans—not just the children of the wealthy few.David Stasavage is a prominent political scientist known for his expertise in taxation, inequality, and political economy. He is currently the Julius Silver Professor of Politics at New York University and a Fellow at the Center for Advanced Study in the Behavioral Sciences at Stanford University. He has conducted extensive research on taxation, particularly on the taxation of the wealthy and the role of inheritance taxes in addressing income inequality. His collaboration with Kenneth Scheve on inheritance taxes has shed light on public opinion and the potential effectiveness of these taxes in promoting economic fairness. He’s also the author of several books, including "States of Credit: Size, Power, and the Development of European Polities,” "Taxing the Rich: A History of Fiscal Fairness in the United States and Europe,” and “The Decline and Rise of Democracy.”Twitter: @stasavageDemocracy, War, and Wealth: Lessons from Two Centuries of Inheritance Taxation https://kfscheve.files.wordpress.com/2020/09/schevestasavage_twocenturies_apsr_2012.pdf States of Credit: Size, Power, and the Development of European Polities https://bookshop.org/book/9780691166735 Taxing the Rich: A History of Fiscal Fairness in the United States and Europe https://bookshop.org/book/9780691165455 The Decline and Rise of Democracy https://bookshop.org/book/9780691228976 Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer