Optimist Economy

Delve into the complexities of poverty in America, where misconceptions are challenged and personal experiences shed light on systemic issues. The discussion critiques societal narratives around the poor while advocating for a compassionate understanding of economic insecurity. Hear about ongoing challenges faced by caretakers and the need for progressive workplace policies. With a sprinkle of humor, explore the impact of identity in women's sports and the cultural conversations around fashion and masculinity.

Economist Kathryn Edwards returns with intriguing insights. She argues against the gold standard's potential comeback, citing historical economic challenges. The conversation shifts to workplace dynamics, emphasizing the impact of holding multiple jobs and the need for better employee mobility. Evaluating government spending poses its own challenges, blending traditional metrics with qualitative insights. The discussion also touches on the lighter side of yoga poses, mixed with personal anecdotes that bring joy and humor to serious topics.

In this insightful discussion, an economist tackles pressing questions about taxation on wages vs. investments. The complexities of student loans and their regressive nature come into play, revealing the struggles of disadvantaged students. The conversation dives into the philosophical clashes among economists over public policies, while also critiquing the misinterpretations of the Congressional Budget Office. Additionally, there's a heartfelt segment reflecting on the importance of mentors in shaping careers.

The federal minimum wage hasn’t budged since flip phones were cool, sparking debates over proposed hikes to $15 or $17. Discussions reveal how raising wages could actually narrow racial wage gaps. Historical context from the Fair Labor Standards Act sheds light on modern legislation, while misconceptions about job loss and price hikes are countered with evidence of worker empowerment. Additionally, the humor and insights on employee turnover shape a lively commentary about labor dynamics we all should consider.

Union approval is rising, but membership is at an all-time low. Discover sectoral bargaining, a collaborative approach for wage negotiation that could replace traditional union battles. This method could unify workers from various sectors like fast food and healthcare. Learn about the hurdles of modern unionization and the legal challenges workers face. The discussion highlights innovative strategies and the need for fairness in labor practices, while also addressing corporate accountability and the implications of public awareness campaigns.

The estate tax only impacts the wealthiest 0.07%, yet nearly half of Americans fret over it. Reflecting on its history, the discussion reveals how loopholes have diminished its power to address wealth inequality. The potential benefits of a higher estate tax could include funding children's trust funds and reducing the concentration of wealth. Plus, the hosts weave in humorous takes on lawn equipment preferences while celebrating community support, blending insightful economics with light-hearted banter.

Recent college graduates are struggling to find jobs in a shifting economy. Experts discuss the mismatched perceptions of youth unemployment and the real challenges they face, debunking myths around AI and education's value. With current unemployment rates still lower than their high-school peers, what's worrying is the potential sign of a weakening economy. The conversation also touches on the complexities of education, the evolution of language, and the impact of positive reinforcement in everyday life.

One in five workers in the United States was born in another country. Without them, the country’s prime-age workforce would be shrinking, and thus so would our economy. So the calumny (Terms & Conditions) directed at immigrants is at odds with the basic fact that the U.S. needs them. What about depressing wages? Economist Kathryn Edwards says that research shows such a mixed bag of results that the overall effect is about zero. Indeed, if the goal is to save “American jobs” or help American workers, there are a lot more effective ways to spend $185 billion than on a massive crackdown on immigration rules.Support us by becoming a paid Substack subscriber here, or by making a contribution at https://buymeacoffee.com/optimisteconomyComplete show notes with links to articles and data at optimisteconomy.com.You can also find Optimist Economy on:TikTokYouTubeInstagram

Here’s what work requirements rarely accomplish: Getting more people to work or lifting them out of poverty. They are, however, very good at driving people off public benefit programs, which was their primary role during the welfare reform of 1996. Yes, Kathryn Edwards economist/human will tell you that in theory, people will optimize how much they work and “consume leisure” according to their preferences, and that if some people get free stuff, they’ll work less and swim at the beach more. But that effect mostly gets swallowed whole by the reality of low-wage work in America.Support us by becoming a paid Substack subscriber here, or by making a contribution at https://buymeacoffee.com/optimisteconomyComplete show notes with links to articles and data at optimisteconomy.com.You can also find Optimist Economy on:TikTokYouTubeInstagram

The national debt is $36 trillion — a panic-inducing big number. So maybe it will help to understand how the U.S. ran up that debt. We’ve blown 37% of it on tax cuts, with precious little to show for that. But 28% went to stabilize the economy during two major crises (in ’08-’09 and during the COVID pandemic), which is when you do want the federal government to pull out its credit card. Good news is we don’t have to get the debt to zero. We just need to get pointed in that direction. And for listeners who’ve been waiting for Kathryn Edwards to discuss MMT (Modern Monetary Theory), your moment has come.✨ Support the Optimist Economy podcast at: https://optimisteconomy.substack.com/subscribe or https://buymeacoffee.com/optimisteconomy ✨Complete show notes with links to articles and data at optimisteconomy.com.You can also find Optimist Economy on:TikTokYouTubeInstagram