Pitchfork Economics with Nick Hanauer

We know that the tax system is set up to advantage people with money. And we know that in the U.S., people with money are disproportionately white. But what many people don’t realize is that the tax system actively advantages white families. Tax law professor Dorothy Brown explains how racial inequality is baked into tax policy in non-obvious ways, and how that affects wealth-building. Dorothy A. Brown is professor of law at Emory University School of Law. She is a nationally recognized scholar in tax policy, race, and class and has published extensively on the racial implications of federal tax policy. She is the author of The Whiteness of Wealth: How the Tax System Impoverishes Black Americans — And How We Can Fix It. Twitter: @DorothyABrown The Whiteness of Wealth: https://bookshop.org/books/the-whiteness-of-wealth-how-the-tax-system-impoverishes-black-americans-and-how-we-can-fix-it/9780525577324 Black families pay significantly higher property taxes than white families, new analysis shows: https://www.washingtonpost.com/business/2020/07/02/black-property-tax/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The opioid crisis in the United States is a textbook example of free market economics. The powerful lie, manipulate, and skirt regulations to make buckets of money, while innocent people suffer. Journalist Sam Quinones joins Goldy and Paul to unpack the economics behind the opioid crisis, and the new threat of synthetic opioids like fentanyl. Sam Quinones is a journalist best known for his reporting in Mexico and on Mexicans in the United States. He is the author of the award-winning Dreamland: The True Tale of America’s Opiate Epidemic. His new book, The Least of Us: True Tales of America and Hope in the Time of Fentanyl and Meth, is out today. Twitter: @samquinones7 The Least of Us: https://bookshop.org/books/the-least-of-us-true-tales-of-america-and-hope-in-the-time-of-fentanyl-and-meth/9781635574357 What did the Sacklers know? https://newrepublic.com/article/162148/sacklers-know-patrick-radden-keefe-purdue-opioid-crisis-review The 'Secret History' Of The Sackler Family & The Opioid Crisis: https://www.npr.org/2021/04/14/987195464/the-secret-history-of-the-sackler-family-the-opioid-crisis State-Level Economic Costs of Opioid Use Disorder and Fatal Opioid Overdose: https://www.cdc.gov/mmwr/volumes/70/wr/mm7015a1.htm Massive Costs of the US Opioid Epidemic in Lives and Dollars: https://jamanetwork.com/journals/jama/article-abstract/2780313 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Behind every aspect of the voting system that makes it harder to vote, there’s a policy that made it that way. Andrea Hailey, the CEO of Vote.org, joins Nick and Goldy to explain how voter suppression happens, and what reforms would help ensure a truly inclusive democracy. Andrea Hailey is the CEO of Vote.org, the nation’s largest nonpartisan digital voter engagement organization. Twitter: @AndreaEHailey Vote.org: https://www.vote.org/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

It’s been a little over a month since the unemployment benefits programs that were established by the CARES Act expired, so we’re taking a look at how well they worked. Washington Post writer Amy Goldstein and Elliott Morris, a data journalist at The Economist, deliver the facts to Jessyn and Paul. Amy Goldstein is a staff writer at The Washington Post, where much of her work has focused on social policy. She is the author of Janesville: An American Story. Twitter: @goldsteinamy Elliott Morris is a data journalist at The Economist. Twitter: @gelliottmorris Further reading: Poverty fell overall in 2020 as result of massive stimulus checks and unemployment aid, Census Bureau says: https://www.washingtonpost.com/business/2021/09/14/us-census-poverty-health-insurance-2020/ Welfare rolls decline during the pandemic despite economic upheaval: https://www.washingtonpost.com/health/2021/08/01/welfare-roles-during-the-pandemic/ Why now is the time to fix the UI system: https://www.epi.org/publication/introduction-why-now-is-the-time-to-fix-the-ui-system/ The racial disparity in unemployment benefits: https://www.rand.org/blog/2020/07/the-racial-disparity-in-unemployment-benefits.html Unpacking Inequities in Unemployment Insurance: https://www.newamerica.org/pit/reports/unpacking-inequities-unemployment-insurance/introduction/ Ending pandemic unemployment aid has not yielded extra jobs—yet: https://www.economist.com/finance-and-economics/2021/08/28/ending-pandemic-unemployment-aid-has-not-yielded-extra-jobs-yet Janesville: An American Story: https://bookshop.org/books/janesville-an-american-story-9781508283966/9781501102264 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Anti-monopoly and pro-local advocate Stacy Mitchell joins the show to talk about small business, big business, and decentralizing economic power. Stacy Mitchell is the co-director of the Institute for Local Self-Reliance. She directs ILSR’s Independent Business Initiative, which produces research and analysis and partners with a broad range of allies to design and implement policies to reverse corporate concentration and strengthen local enterprise. Twitter: @stacyfmitchell Further reading: Small Business Rising: https://www.smallbusinessrising.net/ Institute for Local Self-Reliance: https://ilsr.org/ Senate Testimony: Concentration is at the Root of Rural Distress: https://ilsr.org/stacy-mitchells-senate-testimony-on-state-of-rural-economy/ As Amazon rises, so does the opposition: https://www.nytimes.com/2020/04/18/technology/athena-mitchell-amazon.html Why the left should ally with small business: https://www.thenation.com/article/society/democrats-labor-business-monopoly/ Report: Amazon’s stranglehold: How the company’s tightening grip on the economy is stifling competition, eroding jobs, and threatening communities: https://ilsr.org/amazon-stranglehold/ Don’t let Amazon get any bigger: https://www.nytimes.com/2020/10/08/opinion/amazon-antitrust.html Amazon doesn’t just want to dominate the market - it wants to become the market: https://www.thenation.com/article/archive/amazon-doesnt-just-want-to-dominate-the-market-it-wants-to-become-the-market/ The rise and fall of the word ‘monopoly’ in American life: https://www.theatlantic.com/business/archive/2017/06/word-monopoly-antitrust/530169/ Big box swindle: https://stacymitchell.com/front-page/ Voters want to curb the influence of big tech companies: https://www.wsj.com/articles/voters-want-to-curb-the-influence-of-big-tech-companies-new-poll-shows-11632405601 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Few books have shaken the philanthropy world more than ‘Winners Take All’, Anand Giridharadas’s blistering critique of wealthy do-gooders. Global elites who ostentatiously give away hundreds of millions of dollars, he argues, are actually just preserving the status quo that grants them power in the first place. On this episode, originally recorded and released in October 2019, Anand joins Nick and Goldy to explain how do-gooding can perpetuate inequality. Anand Giridharadas is a writer. His most recent book, ‘Winners Take All: The Elite Charade of Changing the World,’ is a national bestseller. He is an editor-at-large for TIME, an on-air political analyst for MSNBC, and a visiting scholar at the Arthur L. Carter Journalism Institute at New York University. Twitter: @AnandWrites Further reading: Winners Take All: https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248 Beware Rich People Who Say They Want to Change the World: https://www.nytimes.com/2018/08/24/opinion/sunday/wealth-philanthropy-fake-change.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Who are the winners and losers in our skill development system? How can we move the onus of skill further into the purview of employers and away from our education system? UNC Professor Nichola Lowe talks to Goldy about the future of “skill” as we know it in the economy, and what’s at stake if we get it wrong. Nichola Lowe is a professor in City and Regional Planning at UNC-Chapel Hill. Her work focuses on the institutional arrangements that lead to more inclusive forms of urban and regional economic development. Twitter: @lowe_nichola Putting Skill to Work: How to Create Good Jobs in Uncertain Times: https://mitpress.mit.edu/books/putting-skill-work Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Contrary to popular belief, Nordic countries aren’t actually socialist! No, friends, the Nords are capitalists—but they pull it off much better than we do. To help re-imagine American capitalism, writers Anu Partanen and Trevor Corson join us this week all the way from Finland. This episode was originally recorded and posted in February 2020. Anu Partanen is a journalist and the author of The Nordic Theory of Everything. The book debunks some of the most common myths about Nordic societies and discusses what the United States might be able to borrow from aspects of Nordic success in the twenty-first century. She has written for The New York Times and The Atlantic. Twitter: @anupartanen Trevor Corson is an award-winning author and editor. His articles and essays have appeared in The New York Times, The Wall Street Journal, The Atlantic, and many more. Twitter: @TrevorCorson Further reading: The Nordic Theory of Everything: https://www.indiebound.org/book/9780062316547 Finland Is a Capitalist Paradise: https://www.nytimes.com/2019/12/07/opinion/sunday/finland-socialism-capitalism.html What Americans Don’t Get About Nordic Countries: https://www.theatlantic.com/politics/archive/2016/03/bernie-sanders-nordic-countries/473385/ Capitalism Redefined: https://democracyjournal.org/magazine/31/capitalism-redefined/ Safe, happy and free: does Finland have all the answers? https://www.theguardian.com/world/2018/feb/12/safe-happy-and-free-does-finland-have-all-the-answers Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Right-to-work laws, which make unionizing more difficult in 28 states, could more accurately be referred to as right-to-work… for less. Why? On average, worker pay drops 3.1% when right-to-work laws are passed. Shane Larson from CWA, the largest communications and media labor union in the U.S., joins Goldy to explain why right-to-work laws are so harmful, how they came to be, and why it’s so important to pass the PRO Act to fight for workers’ rights. Shane Larson is the Senior Director for Government Affairs and Policy for the Communications Workers of America. Twitter: @ShaneLarsonCWA @CWAUnion https://www.epi.org/publication/so-called-right-to-work-is-wrong-for-montana/ https://aflcio.org/issues/right-work https://www.washingtonpost.com/news/made-by-history/wp/2018/04/24/the-right-to-work-really-means-the-right-to-work-for-less/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Democrats used to be known as the party of the working people—so how did they get so off track? Who took over the party, and why? Author and professor James Kwak joins Nick and Paul in a blistering analysis of the decline of the Democratic Party, and explains how we can get it back on track. This episode originally aired in January 2020. News clips credit: C-SPAN, ProfGP, CNN James Kwak is a professor at the UConn School of Law and the chair of the board of the Southern Center for Human Rights. He is the author or co-author of 13 Bankers, White House Burning, and Economism. His latest book, Take Back Our Party: Restoring the Democratic Legacy, is available for free online at The American Prospect. Twitter: @jamesykwak Read Take Back Our Party on The American Prospect: Introduction - Restoring the Democratic Legacy: https://prospect.org/politics/take-back-our-party-restoring-the-democratic-legacy/ Chapter 1 - Their Democratic Party: https://prospect.org/takebackourparty/chapter-1-their-democratic-party/ Chapter 2 - Bad Policy: https://prospect.org/takebackourparty/chapter-2-bad-policy/ Chapter 3 - Bad Politics: https://prospect.org/takebackourparty/chapter-3-bad-politics/ Chapter 4 - Our Democratic Party: https://prospect.org/takebackourparty/chapter-4-our-democratic-party/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

DC restaurateur Mark Bucher explains what’s behind the “labor” shortage (hint: it’s the wages), the role that restaurant owners need to play in stopping the “churn and burn” model of low-wage workers, and the future of the restaurant industry post-Covid. Mark Bucher is the co-owner of Medium Rare, a decade-old steakhouse with three locations in D.C., Arlington, and Bethesda. During the pandemic, he established “Feed the Fridge”, a project that places refrigerators around the DC metro area and pays local restaurants to fill them with fresh meals daily. Twitter: @MediumRareDC DC restaurateur: There’s no staffing crisis. There’s a wage crisis. https://wtop.com/business-finance/2021/07/dc-restauranteur-theres-no-staffing-crisis-theres-a-wage-crisis/ Feed the Fridge: https://feedthefridge.org/ Minimum wage hike boosts customer experience: https://news.cornell.edu/stories/2021/08/minimum-wage-hike-boosts-customer-experience Restaurant industry unharmed by modest minimum wage hikes: https://news.cornell.edu/stories/2016/01/restaurant-industry-unharmed-modest-minimum-wage-hikes Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What does it take for someone to act in the interest of others? What constitutes trust in general, and trust in government in particular? Margaret Levi, a professor of political and behavioral sciences, shares her research on how people can be persuaded to act in the interest of others if they don’t already want to. The conversation covers vaccines, unions, citizen confidence in government, and a lot more. And make sure not to miss these Pitchfork-adjacent opportunities: Sign up for Econ Con, an upcoming progressive economy conference put on by our friends at the Groundwork Collaborative in partnership with other awesome organizations. It’s free, it’s online, and we’ll be there, so… what are you waiting for? Sign up here: https://econcon.com/ Nick is on TikTok! You have to see it for yourself to believe it: https://www.tiktok.com/@realnickhanauer Sign up for our new weekly newsletter, The Pitch: https://civicventures.substack.com/ Margaret Levi is the Sara Miller McCune Director of the Center for Advanced Study in the Behavioral Sciences (CASBS), Professor of Political Science, and Senior Fellow of the Woods Institute, Stanford University. She is Jere L. Bacharach Professor Emerita of International Studies in the Department of Political Science at the University of Washington. One of her most recent books, In the Interest of Others (Princeton, 2013), co-authored with John Ahlquist, explores how organizations provoke member willingness to act beyond material interest. In other work, she investigates the conditions under which people come to believe their governments are legitimate and the consequences of those beliefs for compliance, consent, and the rule of law. Twitter: @margaretlevi Margaret Levi: Citizen confidence in government - https://www.youtube.com/watch?v=YBbq7izCslU&ab_channel=WZBlive In the Interest of Others: https://press.princeton.edu/books/hardcover/9780691158563/in-the-interest-of-others Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

There have been far more lethal pandemics than Covid-19, but the scale of our response to Covid-19 is dramatically new. For the first time in human history, our civilization made a collective decision to shut much of the world economy down. Contemporary historian Adam Tooze helps us understand what happened, why it happened, and how we can learn from it. Sign up for our new weekly newsletter, The Pitch: https://civicventures.substack.com/ Adam Tooze holds the Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European Institute. In 2019, Foreign Policy Magazine named him one of the top Global Thinkers of the decade. His most recent book, Shutdown: How Covid Shook the World’s Economy, is out now. Twitter: @adam_tooze Shutdown: How Covid Shook the World’s Economy: https://bookshop.org/books/shutdown-how-covid-shook-the-world-s-economy/9780593297551 Check out the Unf*cking The Republic podcast at https://www.unftr.com Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Roosevelt Institute President Felicia Wong and writer Hanna Brooks Olsen join Nick and Goldy to explore how the intense burdens of poverty make it nearly impossible to even think about climbing the economic ladder. This episode was originally recorded and released in 2019. Sign up for our new weekly newsletter, The Pitch: https://civicventures.substack.com/ Felicia Wong is the President and CEO of the Roosevelt Institute. Twitter: @FeliciaWongRI @rooseveltinst Hanna Brooks Olsen is a writer and the co-host of Spotless, a podcast about cleaning. Twitter: @mshannabrooks Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Everything you need to know about what the expanded child tax credit actually is, why it’s good policy, and how it will impact people’s lives. Wendy Bach is a Professor of Law at the University of Tennessee, Knoxville. She is a nationally recognized expert in poverty law. Twitter: @wendyabach Biden’s child tax credit is a step away from a discriminatory system: https://qz.com/2034199/how-does-the-us-child-tax-credit-work/ Two-thirds of people now receive monthly benefit checks: https://www.peoplespolicyproject.org/2021/07/19/two-thirds-of-people-now-receive-monthly-benefit-checks/ The time tax: https://www.theatlantic.com/politics/archive/2021/07/how-government-learned-waste-your-time-tax/619568/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What’s the next generation of access to credit? Why are home prices and rents so out-of-whack with each other? And how can we approach the discord between what liberals say they want for their community versus what housing and development policies they’ll actually support? Glenn Kelman, the CEO of real estate brokerage website Redfin, helps us examine the future of housing and the best ways that companies like his can contribute to solving the housing crisis. And if you’re wondering why this episode sounds so good, or why nobody mentions the pandemic… it’s because this conversation is from our archives of interviews that we recorded in-studio, just before the pandemic hit. But don’t let that discourage you—this is still just as relevant today as the day it was recorded. Enjoy! Glenn Kelman is the CEO of Redfin. Twitter: @glennkelman Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Is inflation bad? What’s the difference between a neoliberal and a conservative? If large corporations were held to higher labor standards than small employers, wouldn’t Walmart get all the talent? And more! Thanks to Mark from Nashville, David from Japan, Mike from Dallas-Fort Worth, Mary from Pennsylvania, Steve from Austin, and Pete from Boston, who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Workers at a Frito-Lay factory in Topeka, Kansas made national headlines when they went on strike to protest dismal labor conditions including forced overtime and 84-hour workweeks. (Frito-Lay's parent company, PepsiCo, made $10.5 billion in profit last year.) The strike ended after 19 days on July 26th, but it’s an important part of a national conversation about labor and corporate profits. Kansas state Representative Jason Probst joins the show to explain the details of the strike and how these insidious labor practices affect his state’s economy. Jason Probst serves in the Kansas House of Representatives. Twitter: @thatguyinhutch Substack: https://thatguyinhutch.substack.com/ Kansas Frito-Lay workers end strike: https://www.washingtonpost.com/business/2021/07/26/frito-lay-strike-topeka/ Striking information - what PepsiCo’s annual report tells us about the Frito Lay strike: https://thatguyinhutch.substack.com/p/striking-information The Backbreaking Work That Goes Into a Bag of Chips: https://nymag.com/intelligencer/2021/07/frito-lay-workers-on-their-strike.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Nick and Goldy answer your questions! If we had progressive taxation, would we still need means testing? Can we send ultra-rich people away to their own economy? What are the best economic indicators for the progressive economy? And more! Thanks to Lisa from Indianapolis, Rick from Baltimore, Jacob from Portland, Sean from Philadelphia, Linda from Seaside, and Frank from Georgia who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Can we create transformative climate outcomes by adopting new regulatory strategies? Financial regulation expert Sarah Bloom Raskin helps us explore what levers exist to steer fiscal and monetary policy toward lasting sustainability. Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She served as the Commissioner of Financial Regulation for the State of Maryland from 2007 to 2010. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee, which recommends changes in fiscal, monetary, and financial regulatory policies that are likely to enable the U.S. to achieve net carbon neutrality before 2050. Twitter: @SBloomRaskin Learn more about the Regenerative Crisis Response Committee here: https://regenerativecrisisresponsecommittee.org/ Does environmental regulation kill or create jobs? https://policyintegrity.org/files/media/Jobs_and_Regulation_Factsheet.pdf Do regulations really kill jobs? https://www.theatlantic.com/business/archive/2017/01/regulations-jobs/513563/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Our friends at the Center for American Progress put on a great virtual event last week with Senator Sherrod Brown, discussing how the U.S. tax codes favors the wealthy and the tools Congress plans to use to rebalance the tax system. Twitter: @amprog You can watch video of the event here: https://www.americanprogress.org/events/2021/06/21/500822/billionaires-paying-no-taxes/ The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Contrary to fears that economic inclusion must come at the expense of economic growth, global management consulting firm McKinsey & Company's research and empirical evidence supports the idea that economic growth is at its best when it is most inclusive – but that equity needs to be embedded in systems from the start in order to be effective. What does ‘inclusion’ mean in the context of an economy that works for everyone? McKinsey's JP Julien explains how policymakers and companies can ensure that economic growth goes hand-in-hand with – and is enhanced by – reducing inequality. JP Julien is an Associate Partner at McKinsey & Company, where he serves US federal, state, and city governments on inclusive economic-development topics and supports private-, public-, and social-sector organizations in advancing racial equity. He is a leader of the McKinsey Institute for Black Economic Mobility, a global economic think tank focused on inclusive economic development and racial equity topics. Twitter: @McKinsey The case for inclusive growth: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-case-for-inclusive-growth Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

It’s Nick and Goldy’s summer reading list! We want to know what you’re reading, too. Let us know on Instagram: @pitchforkeconomics. Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available at your library. Every book mentioned in this episode: The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous by Joseph Henrich Escape from Rome: The Failure of Empire and the Road to Prosperity by Walter Scheidel The Tyranny of Merit: What’s Become of the Common Good? by Michael J. Sandel Success and Luck: Good Fortune and the Myth of Merit by Robert H. Frank The Black Swan and Fooled by Randomness by Nassim Nicholas Taleb Democracy, Race, and Justice: The Speeches and Writings of Sadie T. M. Alexander by Nina Banks Why Buddhism is True by Robert Wright Caste by Isabel Wilkerson His Truth Is Marching On: John Lewis and the Power of Hope by Jon Meacham The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together by Heather McGhee 1491 by Charles C. Mann Nature’s God: The Heretical Origins of the American Republic by Matthew Stewart The Second World War by Winston Churchill Lafayette in the Somewhat United States by Sarah Vowell Debt by David Graeber Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Callum Williams from The Economist predicts what we can expect from the economy in the coming months based on past periods of massive non-financial disruption, including past pandemics and major world wars. Callum Williams is a senior economics writer at The Economist. Twitter: @econcallum What history tells you about post-pandemic booms: https://www.economist.com/finance-and-economics/2021/04/29/what-history-tells-you-about-post-pandemic-booms Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

You probably saw the news that Chipotle is raising its menu prices by 4 percent, and that leadership is blaming the price increase on the fact that they had to raise their starting pay to $15 per hour. It’s not at all surprising to see a large employer like Chipotle blame rising wages for everything, but what was disappointing was the media’s willingness to repeat Chipotle’s story without looking deeper into the numbers: namely, none of the stories covering the price increases mentioned that Chipotle gave its CEO a $24 million raise last year, and that the company is in the middle of enacting a $153 million stock buyback program to enrich a handful of shareholders. Around here, that type of trick will land you the title of Trickle-Down Clown! This week Goldy has a few choice words to say about Chipotle’s behavior, and then we thought it would be a good time to revisit our stock buybacks episode with Senator Cory Booker for an explanation of the pervasiveness and dangers of the practice. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We’re back to our favorite topic this week—TAX THE RICH! Beyond all the benefits that come from a well-funded social safety net, taxing the wealthy would lessen inequality, which would make most people—including the extravagantly wealthy—happier. Super-rich Danish entrepreneur Djaffar Shalchi shares the wisdom that Denmark understands: Inequality is bad for everyone. Djaffar Shalchi is an entrepreneur from Denmark and founder of Millionaires for Humanity, a network of wealthy people who advocate for raising taxes on wealthy people. He is also the founder and Executive Director of Move Humanity, a global initiative to mobilize at least one percent of the wealth of the world’s super-rich for the UN’s Sustainable Development Goals. Twitter: @djaffarshalchi OPINION: I’m a millionaire who wants to be taxed to pay for COVID-19: https://news.trust.org/item/20210329080742-gpnj6/ The American dream is now in Denmark: https://the.ink/p/the-american-dream-is-now-in-denmark Dear Mr. Deutsch: Come to “F***ing Denmark.”: https://medium.com/@humanact/dear-donny-deutsch-come-to-f-ing-denmark-ea6995bb684d Biden will seek tax increase on rich to fund child care and education: https://www.nytimes.com/2021/04/22/business/economy/biden-taxes.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Radical and rising economic inequality is no secret — and now, thanks to new research from the Economic Policy Institute, neither is its price tag nor its cause. There’s never been a study quite like this — one which places specific, real dollar amounts on every trickle-down policy American politicians have embraced. The study’s authors, Larry Mishel and Josh Bivens, explain how their work reveals that the massive upward redistribution of income our nation has suffered these past four decades can largely be attributed to policies intentionally designed to suppress the wages of American workers. Lawrence Mishel is a distinguished fellow at EPI after serving as president from 2002-2017. In the more than three decades he has been with EPI, Mishel has helped build it into the nation’s premier research organization focused on U.S. living standards and labor markets. Twitter: @LarryMishel Josh Bivens is the director of research at EPI. His areas of research include macroeconomics, fiscal and monetary policy, the economics of globalization, social insurance, and public investment. Twitter: @joshbivens_DC Middle-class pay lost pace. Is Washington to blame? https://www.nytimes.com/2021/05/13/business/economy/middle-class-pay.html Identifying the policy levers generating wage suppression and wage inequality: https://www.epi.org/unequalpower/publications/wage-suppression-inequality/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

You have no doubt seen the scary headlines warning of a “labor shortage” caused by the additional pandemic unemployment insurance payments. The coverage of this story is widespread, even though most economics reporters can find no credible evidence linking unemployment checks to a labor shortage. EPI economist Heidi Shierholz joins us to explain why UI and stimulus payments aren’t causing a “labor shortage”, and why the answer to this made-up problem is so clear: it’s the low wages, stupid. Heidi Shierholz is the Senior Economist and Director of Policy at the Economic Policy Institute. Twitter: @hshierholz Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Unemployment benefits are not creating a worker shortage: https://www.huffpost.com/entry/worker-shortage-unemployment-benefits_n_609056c3e4b09cce6c21a850 Is unemployment insurance behind the fast-food labor shortage? https://prospect.org/labor/is-unemployment-insurance-behind-fast-food-labor-shortage/ Restaurant labor shortages show little sign of going economywide: https://www.epi.org/blog/restaurant-labor-shortages-show-little-sign-of-going-economywide-policymakers-must-not-rein-in-stimulus-or-unemployment-benefits/ U.S. Labor Shortage? Unlikely. Here’s why: https://policydialogue.org/opinions/worker-shortages/ It’s not a ‘labor shortage’. It’s a great reassessment of work in America: https://www.washingtonpost.com/business/2021/05/07/jobs-report-labor-shortage-analysis/ The Myth of Labor Shortages: https://www.nytimes.com/2021/05/20/briefing/labor-shortages-covid-wages.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Non-compete clauses, and the lesser-known no-poach agreements between franchises, are shockingly common for low-wage workers. Although these contracts were originally intended to protect trade secrets among high-level executives, they have spiralled into an unfair labor practice that keeps wages low, limits employee mobility, and decreases competition. Washington state Attorney General Bob Ferguson explains how non-competes and no-poach agreements violate the law in many states, what his team did to get hundreds of huge employers across the country to cease and desist, and why you should tell your state’s Attorney General if you know of any low- or middle-income workers who are being forced into signing these agreements. Bob Ferguson is Washington State’s 18th Attorney General. As the state’s chief legal officer, Bob is committed to protecting the people of Washington against powerful interests that don’t play by the rules. Twitter: @BobFergusonAG Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Why aren’t paychecks growing? A burger-joint clause offers a clue: https://www.nytimes.com/2017/09/27/business/pay-growth-fast-food-hiring.html Workers in Washington state win big under new non-compete law: https://www.emeryreddy.com/2019/09/workers-in-washington-state-win-big-under-new-non-compete-law/ Attorney General Bob Ferguson stops King County coffee shop’s practice requiring baristas to sign unfair non-compete agreements: https://www.atg.wa.gov/news/news-releases/attorney-general-bob-ferguson-stops-king-county-coffee-shop-s-practice-requiring AG Report: Ferguson’s initiative ends no-poach practices nationally at 237 corporate franchise chains: https://www.atg.wa.gov/news/news-releases/ag-report-ferguson-s-initiative-ends-no-poach-practices-nationally-237-corporate Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What do the internet and COVID vaccines have in common? Neither would be possible without the work of DARPA, a mission-focused federal agency responsible for funding research and development. Professor Mariana Mazzucato is with us this week to argue that our economy will be better off if more government agencies adopt DARPA’s mission-oriented approach. Mariana Mazzucato is a Professor in the Economics of Innovation and Public Value at University College London, where she is Founding Director of the UCL Institute for Innovation and Public Purpose. She is the author of three highly-acclaimed books: The Entrepreneurial State, The Value of Everything, and Mission Economy. Twitter: @MazzucatoM Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Mission Economy: https://marianamazzucato.com/books/mission-economy It’s 2023. Here’s how we fixed the global economy: https://time.com/collection/great-reset/5900739/fix-economy-by-2023/#new_tab DARPA’s early investment in COVID-19 antibody identification producing timely results: https://www.darpa.mil/news-events/2020-11-10 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Essayist Anusar Farooqui makes the case that we are witnessing the final break from neoliberalism in the United States. Anusar Farooqui writes on Substack as Policy Tensor. Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics The Making of the Mother of All Economic Booms: https://policytensor.substack.com/p/the-making-of-the-mother-of-all-economic Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Can business leaders use their power and resources to make meaningful change? Should they? Ben Cohen and Jerry Greenfield, the founders behind iconic ice cream brand Ben & Jerry’s, help map the landscape between business and activism and introduce their new project, the Campaign to End Qualified Immunity. Ben Cohen and Jerry Greenfield are the co-founders of Ben & Jerry’s Ice Cream. Most recently, they are the leaders of the Campaign to End Qualified Immunity, a new police reform and criminal justice campaign. Ben’s twitter: @YoBenCohen Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics https://campaigntoendqualifiedimmunity.org/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

EPI economist Valerie Wilson joins us for a conversation about the economic costs of racism, and which policies could help further racial equality. Valerie Wilson is the Director of the Program on Race, Ethnicity, and the Economy at the Economic Policy Institute. Prior to joining EPI, she was an economist and vice president of research at the National Urban League Washington Bureau. Twitter: @ValerieRWilson Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Racism and the Economy: https://www.epi.org/blog/racism-and-the-economy-fed/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The latest monthly report from the Bureau of Labor Statistics showed massive gains in March—the strongest in seven months—indicating that economic growth is gaining speed. Economist Austan Goolsbee explains why he’s optimistic, what kind of numbers we need to keep seeing to realize a full recovery, and how the report proves that even though some think high unemployment insurance payments will disincentivize people from returning to work, a lack of jobs is actually what’s driving unemployment rates. Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet. Twitter: @Austan_Goolsbee Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Strong job growth in March as vaccine distribution expands and the American Rescue Plan ramps up: https://www.epi.org/blog/strong-job-growth-in-march-as-vaccine-distribution-expands-and-the-american-rescue-plan-ramps-up/ The soft underbelly to a looming economic boom: Millions will miss out: https://www.washingtonpost.com/business/2021/03/30/fed-inflation-bad-economy-low-wage/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The relationship between time, work, and freedom has always been a battleground in the American economy. Could our devotion to free-market fundamentalism in fact be making Americans less free? Author Mike Konczal joins the show to talk about positive versus negative freedom and the policies that would make us more free, in a real sense. Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute. His latest book is Freedom from the Market: America’s Fight to Liberate Itself from the Grip of the Invisible Hand. Twitter: @rortybomb Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Freedom from the Market: https://bookshop.org/books/freedom-from-the-market-america-s-fight-to-liberate-itself-from-the-grip-of-the-invisible-hand/9781620975374 Time is the universal measure of freedom: http://bostonreview.net/class-inequality-law-justice/mike-konczal-time-universal-measure-freedom Our episode with Elizabeth Anderson: https://pitchforkeconomics.com/episode/coercion-in-the-workplace-with-elizabeth-anderson/ Our episode with Anu Partanen and Trevor Corson: https://pitchforkeconomics.com/episode/re-imagining-capitalism-with-anu-partanen-and-trevor-corson/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

On his podcast Yang Speaks, former Democratic presidential candidate Andrew Yang asks Nick about pervasive economic myths, the next big labor standards fight (the overtime threshold), and the early days of the Fight for $15. Plus, they debate whether a higher minimum wage or a universal basic income would be better for society. The episode from Yang Speaks: https://shows.cadence13.com/podcast/yang-speaks/episodes/f017e270-cc82-40ab-b4a2-6b90b1a564e0 Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

If you’re one of the many people who have asked us to take down the concepts in Atlas Shrugged, which argues that we’re a fundamentally selfish species, this episode is for you! If you’re not one of those people, well, this episode is ALSO for you! Evolutionary biologist David Sloan Wilson has infused the idea of prosociality (the desire to help others) into his new book, Atlas Hugged, and he joins us to explain why Atlas Hugged is a better predictor of how people act than Atlas Shrugged. David Sloan Wilson is an evolutionary biologist and SUNY Distinguished Professor of Biology and Anthropology at Binghamton University. His books include This View of Life: Completing the Darwinian Revolution and the recently published Atlas Hugged. Twitter: @David_S_Wilson Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Ayn Rand Meets Her Match: David Sloan Wilson Fights Fiction with Fiction: https://evonomics.com/rand-meets-david-sloan-wilson-atlas-hugged/ Get Atlas Hugged for free: https://atlashugged.world/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When GameStop’s stock skyrocketed early this year, Wall Street was pissed. A group of Redditors had manipulated the stock market—and everyone knows only professional hedge fund managers are allowed to do that! We couldn’t ignore the market news that took the world by storm, so Nick and Goldy called up CA Congressman Ro Khanna to talk about what happened with GameStop, what it means for financial regulations, and what the government’s response signals about a changing tide in our country’s leadership. Congressman Ro Khanna is a Representative of California’s 17th District. Rep. Khanna sits on the House Committees on Agriculture, Armed Services, and Oversight and Reform. He is the Deputy Whip of the Congressional Progressive Caucus; serves as an Assistant Whip for the Democratic Caucus and is the Democratic Vice Chair of the House Caucus on India and Indian Americans. Twitter: @RoKhanna Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: A leading progressive Democrat slams Robinhood’s move to restrict trading on some stocks after Reddit-fueled surge: https://www.businessinsider.com/ro-khanna-slams-robinhood-trading-restriction-reddit-traders-amc-gamestop-2021-1 Lawmakers call for regulation after Robinhood halts trading: https://www.marketplace.org/shows/marketplace-tech/lawmakers-want-regulation-after-robinhood-halts-trading/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

This weekend, the Senate passed the coronavirus relief bill—and the House is scheduled to debate the bill, and widely expected to pass it, on the day this episode is published (Tuesday, March 9th). While the Senate debated what would be the largest disaster-relief legislation in American history, moderate Democrats and ultra-conservative Republicans alike repeated one common criticism—that infusing so much money into the economy would cause inflation. Austan Goolsbee, past Chairman of the Council of Economic Advisers, explains why those fears are misplaced in this episode that will answer every question you’ve ever had about inflation, stimulus checks, and disaster relief. Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served in Washington as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet. Twitter: @Austan_Goolsbee Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Biden and the Fed Leave 1970s Inflation Fears Behind: https://www.nytimes.com/2021/02/15/business/economy/biden-fed-inflation-covid.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Tackling existential threats to our future like climate change and economic inequality is a huge undertaking, and building the future is going to require massive public investment. Cornell Law Professor Saule Omarova calls for a National Investment Authority that would work inside private markets as a soup-to-nuts problem-solving operation. Saule Omarova is the Beth and Marc Goldberg Professor of Law at Cornell Law School. She specializes in financial sector regulation, banking law, international finance, and corporate finance. Twitter: @STOmarova Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Public Investment Reimagined: A National Investment Authority - https://prospect.org/economy/public-investment-reimagined-a-national-investment-authority/ Key benefits of a National Investment Authority: https://www.dataforprogress.org/a-national-investment-authority Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Over the last century, the velocity of money—the rate at which money changes hands through the economy—has declined. Today, money moves at one of the slowest rates on record, meaning every dollar today generates 70% less economic activity than a dollar did just ten years ago. That has big implications for our economy. Political economist Ann Pettifor joins Nick and Goldy to explain how the velocity of money is related to money creation, and why taxing the rich is ultimately pro-growth (it’s all related, we promise!). Ann Pettifor is a political economist, author, and public speaker, and the Director of PRIME (Policy Research in Macroeconomics). Her work focuses on the global financial system, sovereign debt restructuring, international finance, and sustainable development. She is the author of many books, including The Production of Money and The Case for the Green New Deal. Twitter: @AnnPettifor Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Want to expand the economy? Tax the rich! https://prospect.org/power/want-expand-economy-tax-rich/ A world awash in money: https://media.bain.com/Images/BAIN_REPORT_A_world_awash_in_money.pdf What does money velocity tell us about low inflation in the U.S.? https://www.stlouisfed.org/on-the-economy/2014/september/what-does-money-velocity-tell-us-about-low-inflation-in-the-us Vultures are circling our fragile economy… https://www.annpettifor.com/2020/06/vultures-are-circling-our-fragile-economy/ Decades of empirical research finds no inverse correlation between top tax rates and growth: https://archive.org/stream/R42111TaxRatesandEconomicGrowth-crs/R42111%20Tax%20Rates%20and%20Economic%20Growth_djvu.txt https://www.brookings.edu/wp-content/uploads/2016/06/09_Effects_Income_Tax_Changes_Economic_Growth_Gale_Samwick.pdf http://eprints.lse.ac.uk/107919/1/Hope_economic_consequences_of_major_tax_cuts_published.pdf https://www.washingtonpost.com/posteverything/wp/2016/04/20/a-graphical-assault-on-supply-side-tax-cuts/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The theory of marginal product of labor says that every worker is paid exactly what they’re worth—the value that their labor generates. Employers cite marginal productivity to legitimize paying the lowest wages possible, but that’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman expose the lie of marginal productivity, and show how it’s been used to exploit workers for centuries. Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow of Higher Education Finance at the Jain Family Institute. He studies market power in labor markets and its policy implications. Twitter: @Econ_Marshall Saru Jayaraman is President of One Fair Wage and Director of the Food Labor Research Center at UC Berkeley. Twitter: @SaruJayaraman No, Productivity Does Not Explain Income: https://evonomics.com/no-productivity-does-not-explain-income/ ROC United Diners’ Guide App: https://rocunited.org/diners-guide/ Saru Jayaraman: How Restaurant Workers Are Inheriting a Legacy of Slavery in the U.S.: https://bioneers.org/saru-jayaraman-restaurant-workers-inheriting-legacy-slavery-u-s-ztvz1712/ Evidence and Analysis of Monopsony Power, Including But Not Limited To, In Labor Markets: https://www.ftc.gov/system/files/documents/public_comments/2018/08/ftc-2018-0054-d-0006-151013.pdf Antitrust and Labor Market Power: https://econfip.org/wp-content/uploads/2019/05/Antitrust-and-Labor-Market-Power.pdf Why Are Economists Giving Piketty the Cold Shoulder? http://bostonreview.net/class-inequality/marshall-steinbaum-why-are-economists-giving-piketty-cold-shoulder Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The big news in the minimum wage world this week is the brand new CBO report—which, among many benefits, also found that a $15 federal minimum wage would cost jobs, increase the deficit, and raise prices. How can that be, when most modern minimum wage studies suggest the opposite? Goldy and Paul explain how CBO arrived at their numbers. Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: The CBO report: https://www.cbo.gov/system/files/2021-02/56975-Minimum-Wage.pdf General coverage and analysis - CBO report finds $15 minimum wage would cost jobs but lower poverty levels: https://www.washingtonpost.com/business/2021/02/08/minimum-wage-hike-15-an-hour-by-2025-would-result-14-million-unemployed-nonpartisan-congressional-budget-office-says/ CBO analysis confirms that a $15 minimum wage raises earnings of low-wage workers, reduces inequality, and has significant and direct fiscal effects: https://www.epi.org/blog/cbo-analysis-confirms-that-a-15-minimum-wage-raises-earnings-of-low-wage-workers-reduces-inequality-and-has-significant-and-direct-fiscal-effects-large-progressive-redistribution-of-income-caused/ Raising the federal minimum wage to $15 by 2024 would lift pay for nearly 40 million workers: https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2024-would-lift-pay-for-nearly-40-million-workers/ We still need stimulus: How the CBO’s new report captures the urgency of this moment: https://rooseveltinstitute.org/2021/02/01/still-need-stimulus-cbo-report-captures-urgency-of-moment/ Minimum wage and employment - Impacts of minimum wages: review of the international evidence: https://www.gov.uk/government/publications/impacts-of-minimum-wages-review-of-the-international-evidence The effect of minimum wage on low-wage jobs: https://academic.oup.com/qje/article/134/3/1405/5484905?login=true The new wave of local minimum wage policies: Evidence from six cities: https://irle.berkeley.edu/the-new-wave-of-local-minimum-wage-policies-evidence-from-six-cities/ They said Seattle’s higher base pay would hurt workers. Why did they flip? https://www.nytimes.com/2018/10/22/business/economy/seattle-minimum-wage-study.html Minimum wage shocks, employment flows, and labor market frictions: https://www.journals.uchicago.edu/doi/abs/10.1086/685449?journalCode=jole Myth or measurement: What does the new minimum wage research say about minimum wages and job loss in the United States? https://www.nber.org/papers/w28388 Minimum wage and prices - The impact of a city-level minimum wage policy on supermarket food prices by food quality metrics: A two-year follow up study: https://www.mdpi.com/1660-4601/16/1/102 Wages, minimum wages, and price pass-through: The case of McDonald’s Restaurants: https://dataspace.princeton.edu/bitstream/88435/dsp01sb397c318/4/646.pdf Minimum wage and the federal budget - Effects of a federal minimum wage increase to $15 by 2025 on the federal budget: https://irle.berkeley.edu/effect-of-a-federal-minimum-wage-increase-to-15-by-2025-on-the-federal-budget/ Raising the minimum wage would boost an economic recovery - and reduce taxpayer subsidization of low-wage work: https://www.americanprogress.org/issues/economy/news/2021/01/27/495163/raising-minimum-wage-boost-economic-recovery-reduce-taxpayer-subsidization-low-wage-work/ A $15 minimum wage would have significant and direct effects on the federal budget: https://www.epi.org/publication/a-15-minimum-wage-would-have-significant-and-direct-effects-on-the-federal-budget/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

You know the drill: Nick and Goldy answer your questions! Did we see ‘pitchforks’ at the Capitol insurrection? What should people who subscribe to the economic theories we talk about in this podcast call themselves? What are the smartest investments the average person can make for a stronger, more prosperous, more democratic America? And more! To ask Nick and Goldy a question for a future AMA, leave us a voicemail at (731) 388-9334. Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics The Pitchforks are Coming… For Us Plutocrats: https://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014 CORE Economics: https://www.core-econ.org/ Evonomics: https://evonomics.com/ Institute for New Economic Thinking: https://www.ineteconomics.org/ Rethinking Economics network: https://www.rethinkeconomics.org/ Raising the minimum wage leads to significant gains for workers, not to ‘benefits cliffs’: https://www.nelp.org/publication/raising-minimum-wage-leads-significant-gains-workers-not-benefits-cliffs/ Study finds increasing minimum wage does not cause loss of jobs: https://www.dailycal.org/2018/09/10/study-finds-increasing-minimum-wage-does-not-cause-loss-of-jobs/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Here’s another resource from the archive that will help you wade through the loud and often misleading coverage of the Raise the Wage Act. Not all minimum-wage studies are equal. Some of the most headline-grabbing negative reports on the effects of the minimum wage were commissioned and promoted by right-wing organizations looking to legitimize trickle-down policies that hurt workers. How can you spot studies that aren’t worth their salt? Economist Ben Zipperer joins Nick and Jasmin to reveal some of the tricks that economists pull, and to help us understand how some studies can conclude that raising wages will kill jobs—even though, as we know, the opposite is true. Ben Zipperer is an economist at the Economic Policy Institute. His areas of expertise include the minimum wage, inequality, and low-wage labor markets. He has published research in the Industrial and Labor Relations Review and has been quoted in outlets such as The New York Times, The Washington Post, Bloomberg, and the BBC. Twitter: @benzipperer, @EconomicPolicy Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Gradually raising the minimum wage to $15 would be good for workers, good for businesses, and good for the economy: https://www.epi.org/publication/minimum-wage-testimony-feb-2019/ Six reasons not to put too much weight on the new study of Seattle’s minimum wage: https://www.epi.org/blog/six-reasons-not-to-put-too-much-weight-on-the-new-study-of-seattles-minimum-wage/ Studies mentioned in the episode: New EPI study: The Effect of Minimum Wages on Low-Wage Jobs: Evidence from the United States Using a Bunching Estimator: https://www.nber.org/papers/w25434 Card and Krueger: Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: http://davidcard.berkeley.edu/papers/njmin-aer.pdf University of Washington study - Minimum Wage Increases, Wages, and Low-Wage Employment: Evidence from Seattle: https://www.nber.org/papers/w23532 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Is the U.S. an oligarchy, or does it just have a bunch of super-rich people living in it? Is there a difference? Author Thom Hartmann joins Nick and Paul to explain the relationship between wealth and American political power and share some of the research that went into his latest book, ‘The Hidden History of American Oligarchy.’ Thom Hartmann is the #1 progressive radio talk show host in the US and a New York Times bestselling author. Twitter: @Thom_Hartmann Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics The Hidden History of American Oligarchy: https://bookshop.org/books/the-hidden-history-of-american-oligarchy-reclaiming-our-democracy-from-the-ruling-class/9781523091584 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

You may have noticed that the trickle-downers are out in full force again spouting bad ideas in response to the Raise the Wage Act, which will raise the federal minimum wage to $15/hour. To set the record straight, we’re reposting one of our first-ever episodes, from early 2019, that reveals what the research proves (no, raising the minimum wage doesn’t affect employment), and asks why changing public perception around the minimum wage has been so difficult. Eric Garcetti is the Mayor of LA, where he signed a $15 minimum wage ordinance into law in 2015. The late Alan Krueger was a leading labor economist best known for his work on the effects of the minimum wage. Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Democrats used to win elections in rural areas, but that seems like a distant memory now. This week, Zach is joined by Bill Hogseth, a political organizer from rural Wisconsin, to talk about the difference between making promises and delivering change—and how Democrats can win rural America back again. Bill Hogseth is a political organizer from rural Wisconsin, where he works for the Wisconsin Farmers Union. He is the former Chair of the Dunn County Democrats. Twitter: @billhogseth Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Opinion: Why Democrats Keep Losing Rural Counties Like Mine: https://www.politico.com/news/magazine/2020/12/01/democrats-rural-vote-wisconsin-441458 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer Zach's twitter: @zachariahsilk

Celebrate the end of inauguration week with this compilation of fun soundbites from past guests who are now serving in the Biden Administration! Featuring: Jared Bernstein, from ‘What can a board game teach us about capitalism? https://pitchforkeconomics.com/episode/what-can-a-board-game-teach-us-about-capitalism/ Chris Lu, from ‘Whatever happened to overtime?’ https://pitchforkeconomics.com/episode/whatever-happened-to-overtime/ Felicia Wong, from ‘Why is getting out of poverty so hard?’ https://pitchforkeconomics.com/episode/why-is-getting-out-of-poverty-so-hard/ Lisa D. Cook, from ‘Economic Woman’: https://pitchforkeconomics.com/episode/economic-woman-with-katrine-marcal-lisa-d-cook-and-anna-gifty-opoku-agyeman/ Mehrsa Baradaran, from ‘The hidden costs of banking while poor’: https://pitchforkeconomics.com/episode/the-hidden-costs-of-banking-while-poor-with-mehrsa-baradaran-and-cate-blackford/ Ron Klain, from ‘Leadership failure made the U.S. pandemic worse’: https://pitchforkeconomics.com/episode/leadership-failure-made-the-u-s-pandemic-worse-with-ronald-klain/ Heather Boushey, from ‘Inequality and coronavirus’ and ‘Whatever happened to the middle class? https://pitchforkeconomics.com/episode/inequality-and-coronavirus-with-heather-boushey-and-michelle-holder/ https://pitchforkeconomics.com/episode/whatever-happened-to-the-middle-class/ Joelle Gamble, from ‘How Econ 101 upholds racist systems’: https://pitchforkeconomics.com/episode/how-econ-101-upholds-racist-systems-with-joelle-gamble/ Bharat Ramamurti, from ‘The case for a True New Deal’: https://pitchforkeconomics.com/episode/the-case-for-a-true-new-deal-with-bharat-ramamurti/ Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Idrees Kahloon from The Economist joins us for inauguration week to assess the daunting economic challenges that the Biden-Harris administration will face the second they take office. Idrees Kahloon is the Washington correspondent for The Economist. He covers US policy, poverty, and COVID-19 stimulus packages. Twitter: @imkahloon Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: President Joe Biden will face two extraordinary economic challenges: https://www.economist.com/leaders/2020/11/14/president-joe-biden-will-face-two-extraordinary-economic-challenges Joe Biden is taking office amid a poverty crisis: https://www.vox.com/future-perfect/21582005/joe-biden-poverty-covid Here’s a look at the economy Biden will inherit next month: https://www.nytimes.com/live/2020/12/17/us/joe-biden-trump#heres-a-look-at-the-economy-biden-will-inherit-next-month Joe Biden’s Four-Year Plan: https://prospect.org/day-one-agenda/joe-bidens-four-year-plan/ The three progressive policies voters seem to love: https://slate.com/business/2020/11/progressives-election-minimum-wage-marijuana-medicaid.amp Top charts of 2020: https://www.epi.org/publication/top-charts-of-2020-the-economic-fallout-of-covid-19/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer