Pitchfork Economics with Nick Hanauer

This week, Paul and Goldy look back at the most notable economics books of the year. They discuss Ezra Klein and David Thompson’s Abundance, Cory Doctorow’s blistering Enshittification, Thomas Piketty’s new works on inequality, Diane Coyle’s fresh take on GDP, and the overlooked history behind the Garland Fund. Whether you’re hunting for a holiday gift for the wonk in the family or looking to understand the ideas driving today’s political economy, this episode is full of must-reads.  Must-Read Economics Books 2025 Abundance by Ezra Klein and David Thompson Enshittification: Why Everything Suddenly Got Worse and What to Do About It by Cory Doctorow Equality Is a Struggle by Thomas Piketty Nature, Culture, and Inequality by Thomas Piketty Equality: What It Means and Why It Matters by Thomas Piketty and Michael J. Sandel The Measure of Progress: Counting What Really Matters by Diane Coyle The Radical Fund: How a Band of Visionaries and a Million Dollars Upended America by John Fabian Witt Honorable Mention Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray By Nat Dyer  Why Information Grows: The Evolution of Order, from Atoms to Economies by Cesar Hidalgo  Coming Up Short: A Memoir of My America by Robert Reisch  Mood Machine: The Rise of Spotify and the Costs of the Perfect Playlist Liz Pelly  Other Books Mentioned in Episode Homelessness is a Housing Problem by Greg Colburn & Clayton Page Aldern Why Nothing Works: Who Killed Progress--And How to Bring It Back by Marc Dunkelman Capital in the 21st Century by Thomas Piketty The Gardens of Democracy: A New American Story of Citizenship, the Economy, and the Role of Government by Nick Hanauer & Eric Liu  Communist Manifesto by Karl Marx  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

Transcribed - Published: 9 December 2025

Econ 101 shapes how millions of people understand the economy—but what if the textbooks are teaching a worldview that’s outdated, oversimplified, and in some cases flat-out wrong?  This week, Nick and Goldy talk with economists Wendy Carlin and Suresh Naidu, leaders of CORE Econ, the global project rewriting introductory economics to reflect the real world. They explain why the old curriculum failed during the 2008 financial crisis, how CORE foregrounds issues students actually care about—inequality, climate change, and the future of work—and why teaching economics without talking about innovation or power is like teaching physics without gravity. If you’ve ever walked out of an Econ 101 class thinking, “That can’t be how the economy really works,” this episode is your vindication—and your alternative. Suresh Naidu is a professor of economics and international and public affairs at Columbia University, known for his work on labor markets, political economy, and power in the economy. He is a key contributor to CORE Econ, helping shape its emphasis on real-world data, inequality, and institutions. Wendy Carlin is a professor of economics at University College London and one of the world’s leading experts in economic education and the future of macroeconomic policy. She is the co-founder and director of CORE Econ, the global curriculum reform project now used in universities across more than 60 countries. Social Media: @coreeconteam @columbia_econ Further reading:  CORE - Economics for a changing world About Core Econ CORE (Curriculum Open-access Resources in Economics) Econ CORE Econ’s vision is that a radically transformed economics education can contribute to a more just, sustainable, and democratic world in which future citizens are empowered by a new economics to understand and debate how best to address pressing societal problems. 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

Transcribed - Published: 2 December 2025

Law professor Mehrsa Baradaran joins Nick and Goldy to reveal how neoliberalism wasn’t just a misguided economic theory—it was a “quiet coup” that rewired our laws, courts, and institutions to elevate capital above democracy. Drawing from her new book The Quiet Coup, Professor Baradaran explains how this ideology became like the air we breathe: a pervasive worldview that shapes our politics, our markets, and even the way we understand ourselves. They explore how elite power captured the machinery of government, why the market has become a runaway algorithm fueling inequality, and what it will take to break free from an ideology so deeply embedded we mistake it for common sense. Mehrsa Baradaran is a professor of law at the University of California, Irvine, and one of the nation’s leading experts on banking law, inequality, and the racial wealth gap. She is the author of The Quiet Coup: Neoliberalism and the Looting of America, The Color of Money, and How the Other Half Banks. Her research traces how financial policy, legal structures, and political power shape inequality in the United States. Social Media: @mehrsab.bsky.social Mehrsabaradaran @MehrsaBaradaran Further reading:  The Quiet Coup: Neoliberalism and the Looting of America The Color of Money How the Other Half Banks 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

Transcribed - Published: 25 November 2025

For nearly a century, GDP has been the world’s go-to measure of economic success—but what if it’s been telling us the wrong story? It treats cigarette sales and cancer treatments as equally “good” for the economy, while caring for your kids, volunteering, or creating art don’t count at all. This week, economist Diane Coyle joins Nick and Goldy to discuss her new book, The Measure of Progress, and explain why GDP increasingly fails to capture the reality of modern economies—and how we can measure real progress instead. Diane Coyle is the Bennett Professor of Public Policy at the University of Cambridge. She is also the Research Director at the Bennett School of Public Policy, a member of the UK Government’s Industrial Strategy Council, and author of the new book, The Measure of Progress: Counting What Really Matters. Social Media: @dianecoyle1859.bsky.social @DianeCoyle1859 Further reading:  The Measure of Progress: Counting What Really Matters Beyond GDP? Welfare across Countries and Time The Economics of Care with Nancy Folbre Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 18 November 2025

Actor and author Ben McKenzie didn’t set out to become one of crypto’s fiercest critics—but when the pandemic hit and Hollywood shut down, his curiosity turned into a full-blown investigation. The result was the bestselling book, Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud, a blistering exposé of the crypto craze as “casino capitalism” at its dumbest. In this episode, McKenzie joins Nick and Goldy to explain how the industry turned hype and libertarian fantasy into a trillion-dollar bubble, why the true believers won’t let go, and how fake “innovation” and corporate lobbying are putting the entire financial system at risk. They dig into the cult psychology of crypto, the rise of legalized gambling as an addiction economy, and why letting corporations issue their own “money” could end in disaster. Ben McKenzie is an actor, author, and director best known for his roles on The O.C., Southland, and Gotham. He holds a degree in economics and foreign affairs from the University of Virginia. McKenzie has become one of the most prominent critics of the cryptocurrency industry, co-authoring the book Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud with journalist Jacob Silverman. The premiere of Everyone is Lying to You For Money is on Sunday, November 16, 2025, in New York City. Get tickets at DOCNYC.net. Social Media: @benmckenzie.bsky.social mrbenmckenzie @ben_mckenzie Further reading:  Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud When Prophecy Fails Mistakes Were Made (but Not By Me) New York Magazine: ⁠Congress Just Injected Crypto Directly Into the Most Stable Part of the Economy What could go wrong? Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 11 November 2025

Corporations are on track to spend more than $1.3 trillion on stock buybacks this year—money that could have gone toward higher wages, innovation, or community investment. That’s the real-life Trillion Dollar Heist at the center of our new comic from Civic Ventures, which follows Marta, a janitor who interrupts a corporate board meeting just as executives plot their next billion-dollar buyback spree. This week, we’re resharing our 2019 conversation with Senator Cory Booker, who explains how stock buybacks went from illegal market manipulation to one of the biggest drivers of inequality.  Read the Trillion Dollar Heist Comic: https://bindings.app/read/7mINYO2H This episode originally aired February 26, 2019.  Senator Cory Booker is a Democratic lawmaker from New Jersey who has served in the U.S. Senate since 2013. A Rhodes Scholar and Yale Law graduate, he began his career on the Newark City Council before serving as mayor from 2006 to 2013. In the Senate, Booker has focused on criminal justice reform, economic opportunity, climate action, and protecting civil and LGBTQ+ rights. Social Media: Marta  Paul Constant  Sarah Star Litt Alan Robinson  Pippa Bowland AndWorld Design Mary P. Traverse Further reading:  Trillion Dollar Heist Comic Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 4 November 2025

In the final episode of our Trade series, Nick and Goldy talk with Thea Lee, former Deputy Undersecretary for International Affairs at the U.S. Department of Labor, to challenge the core assumption behind decades of U.S. trade policy: That trade is about efficiency, not power. Lee explains how past trade deals were written to protect capital while ignoring worker exploitation abroad—a model that suppressed wages overseas and undercut American workers at home. She also makes the case that worker-centered trade isn’t hypothetical anymore by pointing to the US–Mexico–Canada Agreement (USMCA), where labor rights were finally enforced with the same seriousness as intellectual property, resulting in real wage gains and democratic union elections in Mexico. This conversation lays out the choice clearly: Trade can strengthen middle classes, democracy, and supply chain resilience, or it can deepen inequality and instability. This episode makes the argument for choosing the first option on purpose, not by accident. Thea Lee is an economist and longtime advocate of pro-worker trade policy who most recently served as Deputy Undersecretary for International Affairs at the U.S. Department of Labor,  where she focused on global labor protections, including enforcing labor rights under trade agreements and combating forced and child labor worldwide. Todd Tucker is a political scientist, author, and the Director of Industrial Policy and Trade at the Roosevelt Institute and Roosevelt Forward, where he leads work on how national and global institutions shape economic transformation. He’s the author of Judge Knot: Politics and Development in International Investment Law. Social Media: @theameilee.bsky.social @TheaMeiLee @toddntucker.com @toddntucker Further reading:  The New US Trade Agenda: Institutionalizing Middle-Out Economics in Foreign Commercial Policy Judge Knot: Politics and Development in International Investment Law Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 28 October 2025

In the sixth episode of our trade series, Pitchfork Economics producer Freddy Doss talks with Mexican economist Juan Carlos Moreno-Brid about how NAFTA — and now the USMCA — reshaped Mexico’s economy in ways that those of us north of the Rio Grande almost never hear about. Yes, exports skyrocketed. But wages stagnated, domestic industry hollowed out, and Mexico became structurally dependent on the United States — even as political rhetoric in the U.S. grew more hostile toward Mexican workers. Moreno-Brid explains why the promised “shared prosperity” never arrived, why Mexico got stuck in an export-without-development trap, and what a truly fair and resilient U.S.–Mexico trade relationship would actually require. It’s a perspective rarely heard in Washington, and an essential one for understanding the real stakes of North American trade. Juan Carlos Moreno-Brid is a professor of economics at the National Autonomous University of Mexico (UNAM) and one of Latin America’s leading experts on trade, industrial policy, and economic development. A former Deputy Director of the Economic Commission for Latin America and the Caribbean (ECLAC) office in Mexico, he has spent decades analyzing the impacts of NAFTA and Mexico’s transition to an export-led model. His research focuses on inequality, industrialization, and the structural challenges facing emerging economies. Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 21 October 2025

In the fifth episode of our series on trade, journalist and author Luke Savage joins Pitchfork Economics Producer Freddy Doss to unpack how decades of “free trade” between the U.S. and Canada have reshaped both economies—entrenching corporate power, hollowing out manufacturing, and weakening democratic control over economic policy. Savage traces how policies sold as mutually beneficial instead fueled inequality and deindustrialization—eroding the livelihoods of working people. He argues for a new kind of trade built to serve the interests of workers and communities, not multinational corporations.  Luke Savage is a Canadian journalist, author, and political commentator whose work examines the failures of liberalism and the possibilities of democracy. A staff writer at Jacobin and co-host of the podcast Michael and Us, Savage has written for The Atlantic, The Guardian, The Washington Post, and The New Statesman. He is the author of The Dead Center: Reflections on Liberalism and Democracy After the End of History and co-author of Seeking Social Democracy with the late Ed Broadbent.  Social Media: @lukewsavage.bsky.social @LukewSavage Lukewsavage Further reading:  Luke Savage | Substack The Dead Center: Reflections on Liberalism and Democracy After the End of History Seeking Social Democracy: Seven Decades in the Fight for Equality Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 14 October 2025

What if global trade isn’t really a fight between nations—but between classes? In the fourth episode of our Trade series, Nick and Goldy talk with economist and writer Matthew C. Klein, co-author of Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace. Klein argues that the real story behind trade imbalances isn’t about countries “winning” or “losing”—it’s about how elites hoard profits while workers everywhere pay the price. From China’s suppressed wages to Wall Street’s endless appetite for financial assets, this conversation exposes how the true conflict in trade is between labor and capital—and what it would take to build a more equitable global economy. Matthew Klein is an economist, writer, and co-author of Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace. He writes The Overshoot, a publication focused on global economics and financial markets, and his work has appeared in the Financial Times, Barron’s, and The Economist. Social Media: @M_C_Klein Further reading:  Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace THE OVERSHOOT: Making sense of the global economy and financial markets Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 7 October 2025

Tariffs won’t save America’s economy—but knowledge might. In the third episode of our Trade series, Nick and Goldy sit down with physicist César Hidalgo to explore how prosperity really grows—not through tariffs or trickle-down promises, but through the accumulation of knowledge and know-how. Hidalgo explains why digital exports don’t show up in trade data, why tariffs fail, and why the future belongs to countries that invest in research, strategy, and human talent. César Hidalgo is the director of the Center for Collective Learning, with offices at the Toulouse School of Economics and Corvinus University of Budapest. A physicist by training, he is also the founder of Datawheel, a company specializing in data visualization and distribution systems. Hidalgo is the author of Why Information Grows, a groundbreaking book on the relationship between knowledge, innovation, and economic prosperity, and his forthcoming book, The Infinite Alphabet and the Laws of Knowledge, explores the dynamics of how knowledge evolves and diffuses globally. Social Media: @cesifoti.bsky.social  @cesifoti Further reading:  Why Information Grows: The Evolution of Order, from Atoms to Economies The Infinite Alphabet and the Laws of Knowledge Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 30 September 2025

In the second episode of our Trade series, Nick and Goldy talk with author Nat Dyer about his book Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray. Dyer reveals how David Ricardo’s famous theory of comparative advantage—long touted as proof that free trade is always a win-win—was built on unrealistic assumptions and a false history. They trace how this elegant but misleading model fueled globalization, masked exploitation, and locked nations into centuries of stagnation. From Trump’s tariff tantrums to Biden’s “small yard, high fence” strategy, their conversation challenges the myths of free trade and asks: when does trade strengthen societies, and when does it doom them to decline? Nat Dyer is a writer and researcher specializing in global political economy and author of the book Ricardo's Dream: How Economists Forgot the Real World and Led Us Astray. He is a Fellow of the Schumacher Institute and the Royal Society of Arts. He has worked for Global Witness and for Promoting Economic Pluralism, and his stories have been reported on by the BBC, the New York Times, and Bloomberg. Social Media: @natjdyer.bsky.social @natjdyer Further reading:  Ricardo's Dream: How Economists Forgot the Real World and Led Us Astray Escape from Model Land: How Mathematical Models Can Lead Us Astray and What We Can Do about It Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 23 September 2025

In this kickoff to our special series on trade, Nick and Goldy unpack why trade policy isn’t just about tariffs and treaties—it’s about people, power, and priorities. For decades, the prevailing narrative has been that trade benefits everyone by lowering prices. But the real question is: who does it help, and who does it hurt? From the false promises of globalization to the overlooked damage in hollowed-out communities, this episode sets the stage for exploring a fresh way to think about trade—one grounded in power dynamics, democratic values, and middle-out economics. David Autor is a labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers. He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program. Marc-William Palen is a historian and senior lecturer at the University of Exeter, specializing in the history of international relations, U.S. foreign policy, and political economy. He is the author of Pax Economica: Left-Wing Visions of a Free Trade World.  Social Media:  @davidautor.bsky.social @davidautor @mwpalen.bsky.social @MWPalen Further reading:  Places versus People: The Ins and Outs of Labor Market Adjustment to Globalization Pax Economica: Left-Wing Visions of a Free Trade World Recovering the Left-Wing Free Trade Tradition  Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 16 September 2025

Political economist Mark Blyth joins Nick and Goldy to unpack the myths and realities of rising prices, from pandemic supply shocks and corporate profiteering to central-bank missteps and decades of bad economic theory. Drawing from his new book Inflation: A Guide for Users and Losers, Blyth explains why some narratives fall flat, why others reveal deeper truths about power and inequality, and what smarter, more equitable policies could look like in the future. Mark Blyth is a political economist and professor of International and Public Affairs at Brown University, where he studies the political power of economic ideas. He is the author of several acclaimed books, including Austerity: The History of a Dangerous Idea and Angrynomics, and most recently Inflation: A Guide for Users and Losers. Social Media: @mkblyth.bsky.social @MkBlyt Further reading:  Inflation: A Guide for Users and Losers Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 9 September 2025

What if the relentless drive to maximize personal gain isn't human nature, but just a flawed model we built? In this Back-to-Basics episode, behavioral economist Samuel Bowles helps us lay homo economicus—the myth of the perfectly rational, self-interested actor—six feet under. He shows how this caricature not only misrepresents human behavior, but underpins an economic system that ignores cooperation, community, and ethics. If we're hoping to reclaim our society from greed-driven oligarchs and neoliberal policy, we need a better model—which starts with recognizing that humans are more than economic robots. Samuel Bowles is an economist and Professor Emeritus at the University of Massachusetts Amherst, currently serving as Research Professor and Director of the Behavioral Sciences Program at the Santa Fe Institute. He is also the author of The Moral Economy: Why Good Incentives Are No Substitute for Good Citizens.  This episode originally aired May 7, 2019. Further reading:  The Moral Economy: Why Good Incentives Are No Substitute for Good Citizens Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 2 September 2025

The promise of the American Dream—work hard, play by the rules, and you’ll get ahead—is unraveling before our eyes. In this Back-to-Basics episode, Christian H. Cooper and law professor Khiara Bridges join Nick and Goldy to posit whether economic mobility has ever truly existed, or if the system was rigged from the start. As wages stagnate, homeownership drifts out of reach, and inequality worsens, their conversation exposes how the American Dream has always been selectively granted and systematically denied. Amid today’s debates over “competitiveness” and “opportunity,” this episode is a reminder: the American Dream didn’t disappear by accident—it’s been taken. Understanding how is the first step toward winning it back. Christian Cooper is a derivatives trader, quantitative finance author, and commentator based in New York City. He directs Banking for a New Beginning, a collaboration between the Aspen Institute and the U.S. Department of State that connects central banks in emerging markets—such as Turkey, Tunisia, and Pakistan—with best practices to strengthen their financial systems Khiara M. Bridges is an anthropologist and professor of law at UC Berkeley School of Law, specializing in race, class, reproductive rights, and constitutional law. She is the author of The Poverty of Privacy Rights.  Social Media: @christiancooper Further reading:  The Poverty of Privacy Rights Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 26 August 2025

When a few giants dominate the economy, democracy is the first to go. In this back-to-basics episode, author and anti-monopoly expert Matt Stoller unpacks how concentrated corporate power doesn’t just warp markets—it tilts the political playing field toward plutocracy. Drawing from his book Goliath, Stoller shows how corporate giants from banks to Big Tech leverage economic dominance into political control, fueling authoritarianism and undermining citizen power. This is more than an economics lesson—it’s a warning, and one that we must hear, now more than ever. Political power isn’t confined to ballots and policy. It lives in company boardrooms and consolidated industries. Understanding how monopolies operate is the first step toward reclaiming American democracy. Matt Stoller is the Director of Research at the American Economic Liberties Project, where he focuses on monopoly power and antitrust policy. He is co-host of the Organized Money Podcast, and the author of Goliath: The 100-Year War Between Monopoly Power and Democracy, a history of how concentrated corporate power undermines democratic governance. This episode originally aired December 3, 2019. Social Media: @matthewstoller ‪@matthewstoller.bsky.social‬ Further reading:  Goliath: The 100-Year War Between Monopoly Power and Democracy Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 19 August 2025

We’ve all heard the story: In a fair market, workers are paid exactly what they’re worth. Economists even have a name for it—marginal productivity theory. It’s neat, simple…and completely wrong. In this Back-to-Basics episode, economist Marshall Steinbaum and labor leader Saru Jayaraman dismantle the myth that the market fairly rewards labor. Steinbaum reveals how this theory has been weaponized to excuse wage stagnation, justify corporate power, and erode worker bargaining rights. Jayaraman shows what that looks like in the real world, from restaurant workers stuck at subminimum wages to entire industries built on underpaying the people who keep them running. They make the case that your paycheck isn’t determined by some neutral law of economics—it’s the result of choices, policies, and power dynamics that can be rewritten to ensure everyone is truly paid what they’re worth. Marshall Steinbaum is an Associate Professor of Economics at the University of Utah and a Senior Fellow in Higher Education Finance at the Jain Family Institute. Saru Jayaraman is an attorney, President of One Fair Wage and the Restaurant Opportunities Centers United (ROC United), and author of One Fair Wage: Ending Subminimum Pay in America.  Social Media:  @Econ_Marshall ‪@econmarshall.bsky.social‬ @SaruJayaraman Further reading:  One Fair Wage: Ending Subminimum Pay in America Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 12 August 2025

If you’ve ever wondered why the economy feels stuck, even when it seems like there's a lot more money in the system, this episode will blow your mind. Political economist Ann Pettifor joins Nick and Goldy to explain why money isn't flowing like it used to, and why that matters. Over the last century, the velocity of money (how quickly a dollar circulates) has plummeted. Today, each dollar in circulation generates up to 70% less economic activity than it did just ten years ago, so it's not being circulated through the local economies, growing wages, and building small businesses with each transaction. Instead, new dollars are just frozen in place.  The culprit? Excess money sitting at the top—hoarded by the wealthy and corporations instead of getting spent. Pettifor shows that taxing the rich isn’t just fair—it’s pro-growth. Redistribution accelerates the velocity of money, unleashing demand, expanding markets, creating jobs, and ultimately boosting prosperity for everyone. If you’re ready to reclaim the economy from its top-down chokehold, this back-to-basics episode isn’t optional—it’s essential. Ann Pettifor is a British political economist, author, and Director of Policy Research in Macroeconomics (PRIME). Known for correctly predicting the 2008 financial crisis, her work spans sovereign debt, macroeconomics, and sustainable development. She’s the author of The Production of Money and The Case for the Green New Deal, and directs groundbreaking research that puts money creation and equitable growth at the center of economic policy. Social Media: @annpettifor.bsky.social‬ Further reading:  Want to expand the economy? Tax the rich! What does money velocity tell us about low inflation in the U.S.? REPORT: A world awash in money Vultures are Circling Our Fragile Economy The Production of Money  The Case for the Green New Deal Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 5 August 2025

For decades, orthodox economics has treated morality as irrelevant—as if economic decisions happen in a vacuum, separate from our values and social bonds. But that approach has failed spectacularly, giving cover to policies that divide and exploit us. In this episode, Heather McGhee joins Nick and Paul to argue that morality must be central to how we think about the economy. They explore how racial division has been weaponized to undermine collective action, why “structural racism” can’t be addressed without naming the powerful actors behind it, and how inclusive economic policies lead to more prosperity for everyone. Part of our Back-to-Basics summer series—essential listening for anyone ready to reject trickle-down and reimagine the economy as a moral system built on trust, justice, and cooperation. This episode originally aired April 2, 2019. Heather McGhee is a policy expert, author, and advocate for economic and racial justice. She is the former president of the progressive think tank Demos and currently serves as a Distinguished Senior Fellow. Heather is the author of the New York Times bestselling book, The Sum of Us, and her work has appeared in outlets such as The New York Times, The Nation, and NBC News. Further reading: The Moral Burden on Economists The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch

Transcribed - Published: 29 July 2025

Is economic growth just about money, trade, and GDP? Or is something deeper at play? In this episode, economist W. Brian Arthur and physicist Cesar Hidalgo join Nick and Goldy to reveal the real drivers of rising prosperity: human knowledge, know‑how, and innovation. They challenge the old assumptions of growth and argue that innovation isn't a byproduct of a strong economy—it's a cause of economic growth. Once we understand that, it changes how we think about investing in people and shaping the economy. Part of our Back‑to‑Basics summer series. Essential listening for anyone who believes that growth should empower people, not enrich the status quo. This episode originally aired January 15, 2019. W. Brian Arthur is an economist and complexity theorist, renowned for his work on technology and innovation. A longtime researcher at the Santa Fe Institute and former Stanford professor, he’s the author of The Nature of Technology, in which he argues that economic growth stems from evolving combinations of existing technologies. Cesar Hidalgo is a physicist, professor at the Toulouse School of Economics, and Director at the Center for Collective Learning at Corvinus University of Budapest. He’s also the author of Why Information Grows, where he explores how knowledge and know-how shape economies, arguing that real prosperity comes from embedding insights in people and collaborative networks. Social Media: ‪@cesifoti.bsky.social‬ Further reading:  The Nature of Technology Why Information Grows Complexity Economics: A Different Framework for Economic Thought Economic Complexity: From useless to keystone Complexity Economics Shows Us Why Laissez-Faire Economics Always Fails Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 22 July 2025

Trickle-downers love to pretend that "Econ 101" is a convincing argument against policies like the minimum wage that invest in working Americans. But the truth is that mainstream economists are terrible at predicting how the economy will behave in the future…Is Econ 101 broken? In this key foundational episode for the podcast, we dismantle the myths of orthodox economics and expose Econ 101 for what it really is: not a science, but a simplistic story used to justify inequality and defend the status quo. Our guests Eric Beinhocker (The Origin of Wealth) and James Kwak (Economism) explain how outdated assumptions about markets, people, and growth have warped economic thinking—and why it’s time to write a new, better story about how the economy actually works. Part of our Back-to-Basics summer series. Essential listening for anyone ready to move beyond trickle-down talking points and think middle-out. This episode originally aired December 17, 2018. Eric Beinhocker is the Executive Director of the Institute for New Economic Thinking at the University of Oxford. He’s the author of The Origin of Wealth, which applies complexity science to economics and challenges traditional market thinking. James Kwak is a writer, law professor, and former entrepreneur. He co-authored 13 Bankers and wrote Economism: Bad Economics and the Rise of Inequality, a sharp critique of how Econ 101 ideology shapes public policy and deepens inequality. Social Media: @ericbeinhocker.bsky.social‬ Further reading:  The Curse of Econ 101 The Origin of Wealth: The Radical Remaking of Economics and What It Means for Business and Society Economism: Bad Economics and the Rise of Inequality Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: ⁠The Pitch⁠

Transcribed - Published: 15 July 2025

Ever find yourself halfway through a Pitchfork Economics episode thinking, “Wait… what’s a monopsony?” You’re not alone. In this listener-favorite episode, Nick and Goldy break down some of the most important—and most misunderstood—economic terms we use on the show. From ‘neoclassical’ and ‘neoliberal’ to ‘monopoly’, ‘monopsony,’ ‘stock buybacks,’ and ‘heterodox economics,’ we cut through the jargon so you can focus on what really matters: understanding how the economy works—and who it works for. Part of our Back-to-Basics summer series. Fun, clear, and essential episodes for new (or slightly confused) listeners. Social Media:  ‪@nickhanauer.bsky.social‬ @goldyha.bsky.social‬ Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 8 July 2025

In 2014, Nick Hanauer sounded the alarm: if economic inequality kept growing, the pitchforks would come—for him, and for the rest of America’s wealthy elite. Then 2016 happened. Donald Trump was elected president on a wave of economic populism that correctly identified massive inequality as a problem, but which offered all the wrong solutions. The inaugural episode of Pitchfork Economics lays the groundwork for everything that followed. We revisit the urgent warning that launched the show, explore the deep myths that still shape our economy, and explain why telling a better story about how the economy works is the first step toward building one that works for everyone. Part of our Back-to-Basics summer series—essential listening for anyone ready to ditch trickle-down and think middle-out. Ganesh Sitaraman is a law professor at Vanderbilt University and a leading expert on constitutional law, economic inequality, and political economy. He’s the author of several influential books, including The Crisis of the Middle-Class Constitution, The Great Democracy, and Why Flying Is Miserable and How to Fix It. Sitaraman has served as a policy advisor to Senator Elizabeth Warren and co-founded the Vanderbilt Policy Accelerator. Walter Scheidel is a historian at Stanford University whose work explores inequality, economic history, and the rise and fall of civilizations. He’s best known for his acclaimed book The Great Leveler, which argues that throughout history, extreme inequality has only been reduced through violent shocks like war, revolution, or plague. This episode originally aired December 11, 2018. Social Media: ‪@ganeshsitaraman.bsky.social‬ @walterscheidel.bsky.social‬ Further reading:  The Pitchforks Are Coming… For Us Plutocrats by Nick Hanauer Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠  Substack: ⁠The Pitch⁠

Transcribed - Published: 1 July 2025

Conventional wisdom says immigration drives down wages and takes jobs from American workers. But what if that story is fueled by bad economics? Journalist Rogé Karma joins Nick and Goldy to challenge the Econ 101 logic that supercharges anti-immigrant rhetoric—and to explain what the data actually shows. Drawing on research from the U.S., Denmark, and beyond, Karma makes the case that immigrants don’t steal jobs—they grow the economy. In a moment when political leaders are pushing mass deportations in the name of “economic populism,” this conversation reveals what’s really at stake.  Rogé Karma is a staff writer at The Atlantic. He was previously the senior editor of The Ezra Klein Show at The New York Times. At The Atlantic, he covers economics and economic policy. Social Media: ⁠@theatlantic.com⁠ ⁠theatlantic⁠ ⁠@TheAtlantic⁠ Further reading:  ⁠The Truth About Immigration & The American Worker⁠ ⁠The Most Dramatic Shift in U.S. Public Opinion⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

Transcribed - Published: 24 June 2025

With inequality rising, housing out of reach, and young Americans falling further behind, some argue the American Dream is dead. But NYU professor Scott Galloway has a different take: America hasn’t fallen—it’s adrift. Originally recorded in late 2022, this episode features a candid conversation about what’s really hollowed out the middle class: generational wealth hoarding, runaway corporate consolidation, and a political system rigged for the rich. As billionaires push for yet another round of tax cuts and working families continue to struggle, Galloway’s message is more relevant than ever: America can still right the ship—but only if we change course. Scott Galloway is a clinical professor of marketing at NYU’s Stern School of Business, a bestselling author, and a tech entrepreneur. He’s the host of the Prof G Show and co-host of Pivot. Galloway is a leading voice on the need to rein in corporate power and rebuild the middle class. ⁠This episode originally aired December 6, 2022. ⁠ Social Media: ⁠@profgalloway.com⁠ ⁠@profgalloway⁠ Further reading:  ⁠Adrift: America in 100 Charts⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

Transcribed - Published: 17 June 2025

As Republicans work at break-neck speed to push another round of massive tax cuts for the wealthy, we thought it would be a good idea to revisit our 2019 conversation with Bruce Bartlett, a Reagan policy adviser and key architect of the 1981 tax cuts. Bartlett explains how the trickle-down logic he once championed turned out to be economic snake oil, because tax breaks for the wealthy don’t grow the economy—they just grow inequality. Bruce Bartlett is an American historian and former economic adviser who helped draft the 1981 Reagan tax cuts. He served in senior roles under Presidents Reagan and George H.W. Bush, including at the Treasury Department and the Joint Economic Committee of Congress. Once a champion of supply-side economics, Bartlett is now a leading critic of trickle-down tax policy. This episode originally aired January 29, 2019. Social Media: @bartlettb.bsky.social @BruceBartlett Further reading:  Trump tax bill will add $2.4 trillion to the deficit and leave 10.9 million more uninsured, CBO says The secret saga of Trump’s tax cuts Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 10 June 2025

The GOP’s new tax bill isn’t just a massive giveaway to the rich—it’s an all-out assault on SNAP, one of the most effective anti-poverty programs in the U.S. That’s because SNAP is more than just a program designed to end hunger. It’s also a powerful economic engine, stabilizing local economies as well as supporting retailers and farmers. Lily Roberts from the Center for American Progress joins us to break down how these proposed cuts will deepen poverty, weaken economic resilience, and hurt millions—especially in the very communities whose lawmakers are pushing them. Lily Roberts is the managing director for Inclusive Growth at American Progress. Her work focuses on raising wages, combating economic inequality linked to race, gender, and geography, and building wealth and stability for American families. Social Media: ⁠@lilyroberts.bsky.social⁠ Further reading:  ⁠SNAP Cuts Are Likely To Harm More Than 27,000 Retailers Nationwide⁠ ⁠SNAP Mythbusters Report⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

Transcribed - Published: 3 June 2025

What makes a company good—and who gets to decide? Economist Lenore Palladino joins Nick and Goldy to dismantle the myth of shareholder primacy and explain how our current system of corporate governance has warped innovation, deepened inequality, and undermined democracy. Drawing from her new book Good Company: Economic Policy after Shareholder Primacy, Palladino outlines a bold vision for how we can redesign the rules of the game—so corporations serve workers, communities, and the public good, not just wealthy shareholders. Lenore Palladino is an assistant professor of economics and public policy at the University of Massachusetts, Amherst, a senior fellow of the Roosevelt Institute, and a research associate at the Political Economy Research Institute. Social Media: @lenorepalladino.bsky.social @lenorepalladino Further reading:  Good Company: Economic Policy after Shareholder Primacy Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 27 May 2025

With Trump’s second major tax bill clearing committee and heading to the House floor—packed, as promised, with massive giveaways to the ultra-wealthy—we’re revisiting our timely conversation with Samantha Jacoby of the Center on Budget and Policy Priorities. Originally recorded before Trump’s reelection, this episode breaks down the real impact of the tax bill that Trump signed into law back in 2017: trillions added to the deficit, corporations and billionaires cashing in, and working families left behind. Spoiler alert: the rich get richer, and everybody else gets screwed. As Congress considers doubling down on the same failed policies, this conversation couldn’t be more relevant. Samantha Jacoby is the Deputy Director of Federal Tax Policy with the Center’s Federal Fiscal Policy division. Samantha focuses on U.S. federal income tax issues, including corporate and business taxation, individual income taxation, and climate tax policy. ⁠This episode originally aired March 19, 2024.⁠ Social Media: ⁠@centeronbudget.bsky.social⁠ ⁠@jacsamoby⁠ ⁠@CenterOnBudget⁠ Further reading:  ⁠Ten Questions on House Republicans’ Upcoming Tax Bill⁠ ⁠The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch⁠

Transcribed - Published: 20 May 2025

During COVID, corporations blamed supply chain shocks for rising prices while quietly raising prices higher than costs, thereby boosting their profits to record levels. We know they did this because they bragged about doing it on corporate earnings calls. Economist Hal Singer warns that Trump’s proposed tariffs could spark a repeat, giving corporations another “golden opportunity” to jack up prices under the guise of higher costs. He explains why tools like antitrust enforcement and interest rate hikes aren’t enough to stop price gouging—and why failing to curb greedflation could carry a steep political price. Hal Singer is an economist, antitrust expert, and Managing Director at Econ One Research, where he specializes in competition policy, regulatory economics, and consumer protection. He’s a professor at the University of Utah and a leading voice on market power, price gouging, and the intersection of antitrust and inequality. Social Media: ⁠@halsinger.bsky.social⁠ ⁠@HalSinger⁠ Further reading:  ⁠Hal’s Twitter thread on the potential for companies to exploit Trump’s tariffs to raise prices higher than their costs. ⁠ Hal’s recent OpEd in The Sling: ⁠Progressives Need a New Toolkit to Fight Inflation⁠  ⁠How Corporations “Get Away With Murder” to Inflate Prices on Rent, Food, and Electricity⁠ ⁠How Trump Is Helping Price Gougers Exploit His Tariffs⁠ ⁠President John F. Kennedy News Conference on April 11, 1962⁠ ⁠Antitrust Policy for the Conservative⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠ Substack: ⁠The Pitch

Transcribed - Published: 13 May 2025

Decades of trickle-down thinking hollowed out our government—and now the anti-democracy crowd is finishing the job. This week, legal scholar and former Biden advisor K. Sabeel Rahman joins Nick and Goldy to talk about what happens when the rule of law becomes optional, what the Biden administration got right (and what it didn’t,) and why simply restoring the old system isn’t enough. If we want a real democracy—one that can stand up to corporate power and actually deliver for people—we need to stop playing by outdated rules and start constructing a government that's faster, fairer, and fit for the modern world. K. Sabeel Rahman is a legal scholar, policy expert, and former senior advisor in the Biden administration, where he served as Associate Administrator at the Office of Information and Regulatory Affairs. A leading voice on democracy, governance, and economic justice, he is Demos's former president and a law professor at Cornell University. Social Media: ⁠@ksabeelrahman.bsky.social⁠ ⁠@ksabeelrahman⁠ Further reading:  ⁠Civic Power: Rebuilding American Democracy in an Era of Crisis⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠  Substack: ⁠The Pitch⁠

Transcribed - Published: 6 May 2025

This week, we’re revisiting a critical conversation we had back in 2020 with author and historian Nancy MacLean, in which she exposes how today’s threats to democracy were decades in the making. Based on her groundbreaking book Democracy in Chains, MacLean traces how Nobel Prize-winning economist James Buchanan worked with billionaire donors to rig the rules of government to expand corporate power and protect extreme wealth. From public choice theory to voter suppression, this episode reveals the coordinated strategy to undermine democracy—and explains why understanding it is essential to fighting back. Nancy MacLean is an award-winning historian and the William H. Chafe Distinguished Professor of History and Public Policy at Duke University. Her book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America was a National Book Award finalist and winner of the Los Angeles Times Book Prize. ⁠This episode originally aired on July 21, 2020⁠. Social Media: ⁠@nancymaclean.bsky.social⁠ ⁠@NancyMacLean5⁠ Further reading:  ⁠Democracy in Chains⁠ Website: ⁠http://pitchforkeconomics.com⁠ Instagram: ⁠@pitchforkeconomics⁠ Threads: ⁠pitchforkeconomics⁠ Bluesky: ⁠@pitchforkeconomics.bsky.social⁠ Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠ YouTube: ⁠@pitchforkeconomics⁠ LinkedIn: ⁠Pitchfork Economics⁠  Substack: ⁠The Pitch⁠

Transcribed - Published: 29 April 2025

What does “abundance” actually mean—and who is it really for? In this episode, Goldy and Paul welcome back economic policy expert Mike Konczal to unpack the big new idea dominating political discourse: abundance. They dive into the buzz around Ezra Klein and Derek Thompson’s book “Abundance,” and Konczal’s sharp critique of its deregulatory leanings, missed opportunities, and neoliberal undertones. From housing policy to green energy to the myth that deregulation alone can fix America’s problems, this episode challenges the idea that more is always better, and asks what it would really take to build a future that’s abundant for everyone—not just the rich. Mike Konczal is the Senior Director of Policy and Research at the Economic Security Project, where he oversees policy development, research, and strategic analysis to advance its ideas. Previously, he served as a Special Assistant to President Biden for Economic Policy and Chief Economist for the National Economic Council.  Social Media: @mtkonczal.bsky.social @mtkonczal Further reading:  Democracy Journal - The Abundance Doctrine Abundance By Ezra Klein & Derek Thompson  Why Nothing Works: Who Killed Progress—and How to Bring It Back By Marc Dunkelman  NBER Working Paper - Supply constraints do not explain house price and quantity growth across U.S. cities Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 22 April 2025

Why does it feel like we can’t build anything anymore? In this episode, Nick and Goldy talk with author Mark Dunkelman about his new book Why Nothing Works, which examines how well-intentioned progressive reforms created a “vetocracy” that makes major public projects nearly impossible. From Seattle’s decades-long waterfront rebuild to the dysfunction of Penn Station, they explore the messy trade-offs between accountability and action—and ask what it would take to make progress possible again. Marc Dunkelman is a fellow at Brown University’s Watson Institute for International and Public Affairs and a former fellow at NYU’s Marron Institute of Urban Management. During more than a decade working in politics, he worked for Democratic members of both the Senate and the House of Representatives and as a senior fellow at the Clinton Foundation. Social Media: @MarcDunkelman Further reading:  Why Nothing Works: Who Killed Progress—and How to Bring It Back Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 15 April 2025

Timid tweaks won’t fix a broken economy. From Nick Hanauer’s blunt critique of Democratic incrementalism to a candid conversation with Representatives Ro Khanna, Delia Ramirez, and Jim Himes on how Democrats can reclaim working-class trust by embracing economic populism and fighting for real change, this episode brings you inside the 2025 Middle Out Economics conference, where the message was clear: Go big or get out of the way. Moderator: Harold Meyerson, The American Prospect Rep. Jim Himes, 4th congressional district, Connecticut Rep. Ro Khanna, 17th congressional district, California Rep. Delia Ramirez, 3rd congressional district, Illinois Further reading:  Measuring the Income Gap from 1975 to 2023 Adieu to Laissez-Faire Trade Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 8 April 2025

Trickle-downers want you to believe that in America, freedom is a narrow idea—freedom from taxes, from regulation, from government itself. But what good is that kind of freedom if you can’t afford rent, see a doctor, or feed your family? So, this week we’re revisiting one of our favorite conversations—our interview with economist Mark Paul about his book, The Ends of Freedom: Reclaiming America's Lost Promise of Economic Rights. In it, he challenges the myth of economic freedom and offers a bold alternative: a 21st-century Economic Bill of Rights. Drawing on the unfinished work of FDR and Martin Luther King Jr., Paul argues that true freedom means more than just being left alone—it means having access to the basic goods that make life possible: housing, healthcare, education, and a decent job. From the lasting damage of neoliberalism to a vision for a fairer, more humane economy, this conversation reframes what freedom really means—and what it will take to build an economy that works for everyone. Mark Paul is an assistant professor at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University and a member of the Rutgers Climate Institute. His work has been featured in publications such as The New York Times, The American Prospect, The Washington Post, and The Financial Times. In 2023, he published his first book, The Ends of Freedom: Reclaiming America’s Lost Promise of Economic Rights. This episode originally aired on May 16, 2023. Social Media: @markpaulecon.bsky.social Further reading:  The Ends of Freedom Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 1 April 2025

Twelve months ago, Democracy Journal announced we were entering the "Middle-Out Moment." A year later—after a brutal election and rising uncertainty—the question isn’t whether neoliberalism is over, but what comes next. In a new symposium titled “It’s Still the Post-Neoliberal Moment,” Democracy brings together leading voices to answer that question. In this episode, we hear directly from some of the smartest contemporary thinkers on how to dismantle corporate power, rebuild trust in government, center care as a public good, and make policy that actually reaches the people it's meant to serve. The stakes couldn’t be higher—and the decisions we make in this moment could mean the difference between widespread prosperity or a negative feedback loop that will be felt for generations to come. Guests include: Nidhi Hegde, Charles Davidson, Shilpa Phadke & Shayna Strom, Harry Holzer, Mary Beth Maxwell, Bilal Baydoun, and Melissa Morales. Further reading:  The Middle-Out Moment Is Still Here - Nick Hanauer  Anti-Monopoly Is the Path Forward - Nidhi Hegde Financial Secrecy Is a Middle-Out Issue - Charles Davidson  Do Not Abandon the Care Agenda - Shilpa Phadke & Shayna Strom Taking the Spending-Inflation Problem Seriously - Harry Holzer Time for People-Centered Policy - Mary Beth Maxwell  Good Political Stories Need Heroes—and Villains - Bilal Baydoun On the Need to Go Bigger - Melissa Morales  Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 25 March 2025

For decades, unions were more than just labor organizations—they were community anchors that shaped working-class identity and political loyalty. But what happens when an entire generation loses its economic and social foundation? The Rust Belt’s working-class voters were once a Democratic stronghold, but that’s no longer the case. Lainey Newman, co-author of Rust Belt Union Blues, joins Paul  and Goldy this week to explain how the erosion of union power helped shift working-class voters away from Democrats, and why economic fixes alone won’t be enough to win them back. Lainey Newman is an author and J.D. candidate at Harvard Law School. She is a graduate of Harvard College and a native of Pittsburgh, Pennsylvania. Social Media: @laineynewman.bsky.social laineynewman @LaineyNewman Further reading:  Rust Belt Union Blues: Why Working-Class Voters Are Turning Away from the Democratic Party Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 18 March 2025

Mass layoffs have become a routine corporate strategy—not because companies are struggling, but because Wall Street demands it. In Wall Street’s War on Workers, labor educator and author Les Leopold exposes how stock buybacks, deregulation, and financialized capitalism have made job cuts a tool for enriching CEOs and hedge funds at the expense of workers and communities. He joins Nick and Goldy this week to explain how this happened, why both political parties have failed to stop it, and what we can do to fight back. Les Leopold is a labor educator, author, and co-founder of the Labor Institute, where he has spent decades advocating for economic justice and worker rights. He is the author of several books, including Runaway Inequality and Wall Street’s War on Workers, which exposes how financial elites have rigged the economy in their favor. Social Media: @les_leopold Further reading:  Wall Street's War on Workers: How Mass Layoffs and Greed Are Destroying the Working Class and What to Do about It Corporate Bullsh*t: Exposing the Lies and Half-Truths That Protect Profit, Power, and Wealth in America Les Leopold’s Substack Civic Ventures Produced Comic on Stock Buybacks: Trillion Dollar Heist Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 11 March 2025

A small group of elite universities holds an outsized influence over the field of economics, shaping research, policy, and the broader economic narrative. But is that concentration of power stifling innovation and reinforcing the status quo? This week, Harvard economist David Deming joins Nick and Goldy to discuss his recent Atlantic article, in which he argues that Big Econ functions like a monopoly—limiting competition, excluding diverse perspectives, and making it harder for new ideas to take hold.  David Deming is the Isabelle and Scott Black Professor of Political Economy at the Harvard Kennedy School. Deming is also a research associate at the National Bureau of Economic Research and Associate Editor of the Journal of Economic Perspectives. Social Media: @ProfDavidDeming Further reading: Break Up Big Econ DOGE Is Failing on Its Own Terms David Deming’s Substack Forked Lightning The Trouble With Macroeconomics Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 4 March 2025

The U.S. spends billions on programs designed to fight poverty, but it appears that much of that money is actually making corporations richer instead of helping people. This week, Nick and Goldy sit down with Anne Kim, author of Poverty for Profit: How Corporations Get Rich off America's Poor, to talk about the vast industry that siphons public dollars from anti-poverty programs.. From tax prep companies skimming off the Earned Income Tax Credit to private Medicaid contractors denying care to boost their bottom line, Kim exposes the hidden ways corporations profit off economic hardship. How did we end up with an anti-poverty system that enriches shareholders instead of helping people? More importantly—how do we fix it? Anne Kim is a writer, lawyer, public policy expert, and contributing editor at Washington Monthly. She’s also the author of Poverty for Profit: How Corporations Get Rich off America’s Poor and Abandoned: America’s Lost Youth and the Crisis of Disconnection. Social Media: @anne-s-kim.bsky.social Further reading:  Poverty for Profit: How Corporations Get Rich off America’s Poor Abandoned: America’s Lost Youth and the Crisis of Disconnection The TurboTax Trap: How the Tax Prep Industry Makes You Pay The True Size of Government Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 25 February 2025

This week, Senator Chris Murphy joins Nick and Goldy to discuss the political failure of neoliberalism and what comes next for the Democratic Party. For decades, both parties embraced free trade and deregulation, promising that economic growth would benefit everyone. But that promise went unfulfilled as wages stagnated, industries collapsed, and inequality soared. Murphy explains how these policies left millions of Americans economically adrift, why Biden’s shift toward industrial policy is a step in the right direction, and how Democrats can remake their economic narrative by focusing on unrigging the system rather than handing out subsidies. Chris Murphy is the junior United States Senator for the State of Connecticut. Social Media: @chrismurphyct.bsky.social chrismurphyct @ChrisMurphyCT Further reading:  Chris Murphy Wants Democrats to Break Up With Neoliberalism The Democratic senator speaks out about the future of his party. The Senator Warning Democrats of a Crisis Unfolding Beneath Their Noses How Neoliberalism Cuts Off Community Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 18 February 2025

Only a few weeks into his second term, Donald Trump and his billionaire buddies are doing their best to dismantle the federal government's regulatory agencies. So today, we're revisiting a compelling conversation we had in 2020 with journalist and podcast host Michael Hobbes about a piece he wrote in HuffPost titled "The Golden Age of White-Collar Crime." Initially reported against the backdrop of Trump’s first presidency and its alarming erosion of regulatory oversight, Hobbes breaks down the staggering prevalence of elite deviance—where the wealthy evade accountability for crimes that cause immense social harm—and also offers insight into why white-collar crime often goes unchecked. It’s a timely reminder of the consequences of allowing the ultra-wealthy to operate above the law. This episode originally aired on March 10, 2020. Michael Hobbes is a journalist, podcaster, and former senior reporter for HuffPost, known for his in-depth investigations into social issues, economics, and media narratives. He is the co-host of If Books Could Kill and Maintenance Phase, and previously co-hosted You're Wrong About, where he debunked cultural myths and misconceptions. Hobbes has also contributed to outlets like The New Republic, Pacific Standard and Slate covering topics ranging from housing policy to moral panics. Social Media: @michaelhobbes.bsky.social Further reading:  The Golden Age of White Collar Crime Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 11 February 2025

This week, Nick and Goldy are joined by journalist and historian Yoni Appelbaum to discuss his forthcoming book, Stuck: How the Privileged and the Propertied Broke the Engine of American Opportunity. They explore how decades of failed economic policies and zoning regulations have restricted mobility, stifled economic growth, and worsened inequality—revealing the historical roots of our current housing and economic inequality crises. Appelbaum argues that the decline in housing affordability isn't just a housing problem but a mobility problem, as many Americans are increasingly unable to afford to move to areas of the country where they can pursue better opportunities for themselves or their children. Yoni Appelbaum is a deputy executive editor of The Atlantic and a social and cultural historian of the United States. Before joining The Atlantic, he was a lecturer on history and literature at Harvard University. Social Media: Bluesky @yappelbaum.bsky.social Twitter @YAppelbaum Further reading: Stuck: How the Privileged and the Propertied Broke the Engine of American Opportunity. Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 4 February 2025

With billionaires pouring unprecedented sums of money into politics, corporate interests shaping policy, and the revelation that Trump has appointed a record 13 billionaires to top administration roles in the wealthiest cabinet in American history, it's clear how much sway the ultra-wealthy hold over our democracy. So, we’re re-airing our 2021 conversation with Thom Hartmann, which offers timely insights into how the ultra-wealthy consolidate power, and how concentrated wealth undermines economic fairness and democratic governance. Thom Hartmann is a New York Times bestselling author and America’s #1 progressive talk show host for over a decade.  This episode originally aired on February 2, 2021. Social Media: Bluesky @hartmannreport.com Twitter @Thom_Hartmann Further reading:  The Hidden History of American Oligarchy Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 28 January 2025

This week, Paul and Goldy sit down with journalist Kurt Hackbarth to discuss the recent electoral success of Mexico's Morena party and their progressive economic agenda. The conversation explores how Morena’s focus on middle-out policies, such as significant minimum wage increases and sweeping social safety net programs and reforms, has lifted millions out of poverty and challenged decades of neoliberal orthodoxy. Hackbarth also highlights the effective communication strategies employed by Morena's leaders, particularly their innovative use of social media, and the importance of staying connected to the base while appealing to a broad spectrum of voters, offering insights into what U.S. Democrats can learn from Mexico's left-leaning Morena party. Kurt Hackbarth is a writer, playwright, and freelance journalist who contributes to Jacobin Magazine and co-founded the independent media project “MexElects.” His writing often explores the complexities of global affairs and the impact of neoliberalism on society. Social Media: @KurtHackbarth Further reading:  Jacobin Magazine- Mexico’s Lessons for the International Left Soberanía: The Mexican Politics Podcast Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 21 January 2025

This week, Nick and Goldy sit down with historian Gary Gerstle, author of The Rise and Fall of the Neoliberal Order, for an in-depth exploration of neoliberalism—its origins, dominance, and decline. Their conversation examines the shifting political landscape shaped by recent presidential administrations, including the Biden administration’s efforts to promote a more equitable “middle-out” economic framework. With a focus on historical context and the enduring power of neoliberal institutions, this episode offers a compelling analysis of the pathways to a new economic order and the critical role of innovative thinking in navigating today’s economic challenges. Gary Gerstle is an author, historian, and scholar of American political and economic history. He is the Paul Mellon Professor of American History Emeritus at the University of Cambridge and a Professor Emeritus of History at Vanderbilt University. Social Media: @glgerstle Further reading:  1984 Super Bowl APPLE MACINTOSH Ad The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 14 January 2025

With a second Trump administration on the horizon, we’re bracing for a return to the same failed trickle-down policies that have dominated our politics for 50 years—policies that enrich the wealthy few at the top while leaving everyone else behind. That’s why we’re resharing our 2022 conversation with Mark Blyth, a political economist who explains why trickle-down economics refuses to die and how it continues to shape our world. In this episode, Mark exposes the myths behind these harmful ideas and makes a compelling case for a new economic paradigm. This episode originally aired on October 11, 2022. Mark Blyth is a political economist, professor, author and the Director of the William R. Rhodes Center for International Economics and Finance at Brown University. He is the author of several influential books, including Austerity: The History of a Dangerous Idea and Angrynomics (co-authored with Eric Lonergan), and he’s the co-author of a forthcoming book, Inflation: A Guide for Users and Losers. Further reading:  Inflation: A Guide for Users and Losers Angrynomics Austerity: The History of a Dangerous Idea Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 7 January 2025

This week, Nick and Goldy discuss the future of AI and its potential impact on labor markets and society with MIT professor and economist David Autor. While many pundits predict that AI will bring economic misery to working Americans, Autor optimistically argues that AI could empower the middle class by augmenting human expertise, unlocking new solutions to complex problems, and enabling individuals with fewer formal skills to excel in areas requiring advanced knowledge. Professor Autor also underscores the need for targeted investments, labor market supports, and thoughtful regulations to ensure the benefits of AI are widely and equitably distributed rather than concentrated among a privileged few. It’s a fascinating discussion about the future of AI that tackles the pressing questions about its ethical deployment, the risks of monopolization, and the societal shifts required to harness it for the greater good. David Autor is a labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers. He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program. Social Media Twitter: @davidautor Further reading:  NOEMA - AI Could Actually Help Rebuild The Middle Class New York Times - How One Tech Skeptic Decided A.I. Might Benefit the Middle Class Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcribed - Published: 31 December 2024