meta_pixel
Tapesearch Logo
Log in
Pitchfork Economics with Nick Hanauer

How Economists Cause Harm Even as They Aspire to Do Good (with George DeMartino)

Pitchfork Economics with Nick Hanauer

Civic Ventures

News, Business, Government, Politics

4.71.5K Ratings

🗓️ 30 December 2025

⏱️ 39 minutes

🧾️ Download transcript

Summary

For more than a century, economists have told us they’re simply “describing the world as it is.” But what if their theories aren’t neutral — and are quietly doing enormous harm? This week, we’re joined by economist George DeMartino, author of The Tragic Science, who makes a devastating case that modern economics has helped legitimize policies that shattered communities, fueled inequality, and even cost millions of lives — all while claiming scientific objectivity. DeMartino exposes how orthodox economics trained itself to dismiss real suffering as abstract and acceptable — as long as the aggregate numbers looked good. If you’ve ever wondered why economic “expertise” keeps failing working people, this conversation connects the dots. George DeMartino is a Professor of Economics at the Josef Korbel School of International Studies at the University of Denver. He is the author of The Tragic Science: How Economists Cause Harm (Even as They Aspire to Do Good) and The Economist’s Oath. His work examines the moral obligations of economists, the profession’s history of harm—including what he calls econogenic harm—and the need for a new ethics grounded in humility, uncertainty, and democratic accountability. Further reading:  The Tragic Science: How Economists Cause Harm (Even as They Aspire to Do Good) The Economist’s Oath: On the Need for and Content of Professional Economic Ethics Website: http://pitchforkeconomics.com Facebook: Pitchfork Economics Podcast Bluesky: @pitchforkeconomics.bsky.social Instagram: @pitchforkeconomics Threads: pitchforkeconomics TikTok: @pitchfork_econ YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Twitter: @PitchforkEcon, @NickHanauer Substack: ⁠The Pitch⁠

Transcript

Click on a timestamp to play from that location

0:00.0

The rising inequality and growing political instability that we see today are the direct result of decades of bad economic theory.

0:10.6

The last five decades of trickle-down economics haven't worked.

0:14.8

But what's the alternative?

0:16.3

Middle-out economics is the answer.

0:18.6

Because the middle class is the source of growth, not its consequence.

0:23.1

That's right.

0:28.7

This is pitchfork economics with Nick Hanauer, a podcast about how to build the economy from the middle out.

0:36.9

Welcome to the show.

0:42.1

Paul.

0:43.3

Hi, Goldie. How are you?

0:45.5

Oh, always happy to get to have you on the pod for a change.

0:51.4

Uh-huh.

0:52.2

You know, I, you'd think I'd learn I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, is, uh, is, is, uh, is, is, is, incredibly pessimistic, but, uh, you, you, you did a good job there. I'm proud of you. so yeah i'm excited to join the the podcast today because i've been thinking a lot about when i first

1:12.0

started uh at this job goldy and i Yeah, I'm excited to join the podcast today because I've been thinking a lot about when I first

1:11.9

started at this job, Goldie, and I did not know much about economics at all. I had not started my

1:18.3

reading. You hadn't started your layman's PhD program. That's right. And I was surprised when I

1:27.1

started exactly how skeptical you and Nick were about

1:32.2

economics, because, you know, I only had the layman's view, right, of economics. I assumed it was a

1:37.7

science that knew everything that could predict everything. And, you know, so it was a little

1:44.1

shocking to me when I started and, and all of the

1:46.7

things that you were saying about economics and all that.

1:49.7

But I think, and I've shared that skepticism as I've, as I've, as I've read more and

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Civic Ventures, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Civic Ventures and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.