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Pitchfork Economics with Nick Hanauer

A brief history of Middle-Out Economics (with Michael Tomasky)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.81.5K Ratings

🗓️ 18 October 2022

⏱️ 46 minutes

🧾️ Download transcript

Summary

We’ve lived in the shadow of trickle-down economics for over 40 years. During that time, our leaders unquestioningly embraced economic policies that prioritize the wealthiest and most powerful, with the idea that their wealth will eventually "trickle down" to everyone else. Finally, a contrasting progressive economic understanding is beginning to take hold. Middle-out economics—the idea that prioritizing the working- and middle-class is better for everyone in the economy—is having a moment. But where did middle-out come from? Michael Tomasky’s new book chronicles the history of middle-out and the rise of progressive economics in the United States. Michael Tomasky is a journalist and author. He’s top editor of The New Republic, editor of Democracy: A Journal of Ideas, and a contributing opinion writer for The New York Times. Twitter: @mtomasky The Middle Out https://www.penguinrandomhouse.com/books/671443/the-middle-out-by-michael-tomasky Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0

We knew or I knew that in order to defeat

0:04.2

to trickle down economics, we had to build

0:06.9

an alternative that contrasted with it very sharply.

0:10.3

Economics is a set of numbers, but it's also a set of ideas.

0:13.7

The more people you fully include in the economy,

0:17.0

the faster and more prosperous and more inclusive it grows.

0:20.7

Yeah, absolutely.

0:21.7

The economy is people.

0:23.7

Right, that's what it is.

0:25.3

And that is why it grows from the middle out.

0:30.0

From the home offices of civic ventures in downtown Seattle,

0:35.9

this is Pitch Fork Economics, with Nick Hanauer,

0:39.0

the best place to get the truth about who gets what and why.

0:48.8

I'm Nick Hanauer, founder of Civic Ventures.

0:52.1

I'm David Goldstein, senior fellow at Civic Ventures.

1:00.1

On this episode, Nick, we're going to get a little personal

1:03.2

and talk about one of your babies.

1:06.2

Yeah, tell us a little bit about your child

1:10.0

known as middle out.

1:12.4

Well, yeah, today on the pod, we are going to,

1:17.0

we're going to interview our old friend, Michael Tomasky,

1:20.4

on middle out economics.

...

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