Pitchfork Economics with Nick Hanauer

Harvard Business School professor Rebecca Henderson tells Nick and Goldy why businesses should reject the idea that the sole purpose of the corporation is to maximize shareholder value, and how businesses can help reform the market system. Rebecca Henderson is a professor at the Harvard Business School, a research fellow at the National Bureau of Economic Research, and a fellow of both the British Academy and the American Academy of Arts and Sciences. She is an expert on innovation and organizational change, and her research explores the degree to which the private sector can play a major role in building a more sustainable economy. Twitter: @RebeccaReCap Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Reimagining Capitalism in a World on Fire: https://www.publicaffairsbooks.com/titles/rebecca-henderson/reimagining-capitalism-in-a-world-on-fire/9781541730137/ Do managers have a role to play in sustaining the institutions of capitalism? https://www.brookings.edu/wp-content/uploads/2016/06/BrookingsInstitutionsofCapitalismv5.pdf Ending shareholder primacy in corporate governance: https://rooseveltinstitute.org/publications/ending-shareholder-primacy-in-corporate-governance/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Why did the American middle class boom after WWII, and how do we get it booming again? New York Times economics reporter Jim Tankersley joins Paul to lay out the thesis of his new book, ‘The Riches of This Land’—that the economy will thrive when everyone can fully participate in it. Jim Tankersley covers economic and tax policy for The New York Times. Over more than a decade covering politics and economics in Washington, he has written extensively about the stagnation of the American middle class and the decline of economic opportunity in wide swaths of the country. Twitter: @jimtankersley Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics The Riches of This Land: https://www.indiebound.org/book/9781541767836 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What’s the opposite of neoliberal economics? What would the manifesto of the perfect political party look like? How much money do corporations spend lobbying against taxes, and is it even worth it? Nick and Goldy answer these questions (and more!) from listeners. To ask us a question, use the contact page on our website: https://pitchforkeconomics.com/contact/ Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Economism: https://www.indiebound.org/book/9781101871195 The Curse of Econ 101: https://www.theatlantic.com/business/archive/2017/01/economism-and-the-minimum-wage/513155/ Arguing with Zombies: https://www.indiebound.org/book/9781324005018 Nick’s publications: https://nickhanauer.com/publications/ Trends in income from 1975 to 2018: https://www.rand.org/pubs/working_papers/WRA516-1.html The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure: https://time.com/5888024/50-trillion-income-inequality-america/ Money spent on lobbying skyrocketed during tax overhaul: https://apnews.com/article/bd8a878c5fe84ea48ffbcf05b4edba0e The 4 companies that lobbied most on tax overhaul - and what they got for it: https://www.vox.com/policy-and-politics/2017/12/7/16709586/republican-tax-bills-lobbying Corporations now spend more lobbying Congress than taxpayers spend funding Congress: https://www.vox.com/2015/4/20/8455235/congress-lobbying-money-statistic Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

This week, Biden-Sanders unity task force appointee Dr. Abdul El-Sayed walks Nick and Goldy through the Biden transition team’s health care plan. Abdul El-Sayed is a physician, epidemiologist, public health expert, and progressive activist. He is the Chair of Southpaw Michigan and a contributor at CNN. He is the author of ‘Healing Politics’ and the co-author of the upcoming ‘Medicare for All: A Citizen’s Guide’. He also hosts “America Dissected,” a podcast by Crooked Media. Twitter: @AbdulElSayed Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Coronavirus is exploiting an underlying condition: our epidemic of insecurity: https://www.theguardian.com/commentisfree/2020/mar/19/coronavirus-insecurity-anxiety-us-epidemic Biden-Sanders Unity Task Force Recommendations: https://joebiden.com/wp-content/uploads/2020/08/UNITY-TASK-FORCE-RECOMMENDATIONS.pdf Healing Politics: https://www.indiebound.org/book/9781419743023 Health insurance and the COVID-19 shock: https://www.epi.org/publication/health-insurance-and-the-covid-19-shock/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

This week, labor market economist Suresh Naidu explains how his field attempts to account for the influence of power while studying employee/employer relationships, and unveils the hidden tricks of the coercive labor market. Suresh Naidu is a professor of economics and international and public affairs at Columbia University as well as a fellow at the Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at the National Bureau of Economic Research. Twitter: @snaidunl Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: 'Essential' workers are just forced laborers: https://www.washingtonpost.com/outlook/2020/05/21/essential-workers-pay-wages-safety-unemployment/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Yesterday, a groundbreaking study by the RAND Corporation put the first-ever price tag on how much income inequality costs American workers. The bill? $50 trillion. You read that right: $50 trillion has been diverted from working Americans to the wealthiest 1% since 1975. To make sense of this staggering number, Nick and Goldy are joined by mathematician Carter Price, the study’s co-author. Carter C. Price is a senior mathematician at the RAND Corporation. Twitter: @CarterCPrice If you like the show, please consider leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90% - And That’s Made the U.S. Less Secure: https://time.com/5888024/50-trillion-income-inequality-america/ “We were shocked”: RAND study uncovers massive income shift to the top 1%: https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Economist Olugbenga Ajilore explains how policymakers should be thinking about rural America (it’s not a monolith), and what interventions we should pursue to provide what he calls a “different kind of help.” Olugbenga Ajilore is a senior economist at the Center for American Progress. His expertise includes regional economic development, macroeconomic policy, and issues in diversity and inclusion. Twitter: @gbenga_ajilore If you like the show, please leave us some love! RateThisPodcast.com/pitchforkeconomics Further reading: COVID and Rural America: https://democracyjournal.org/magazine/covid-and-rural-america/ Congress Must Help Rural America Respond to the Coronavirus: https://www.americanprogress.org/issues/economy/reports/2020/07/27/488129/congress-must-help-rural-america-respond-coronavirus/ Economic Recovery and Business Dynamism in Rural America: https://www.americanprogress.org/issues/economy/reports/2020/02/20/480129/economic-recovery-business-dynamism-rural-america/ Rural Americans are Vulnerable to the Coronavirus: https://www.americanprogress.org/issues/economy/news/2020/03/05/481340/rural-communities-vulnerable-coronavirus/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What would the workplace look like if workers were truly free? Elizabeth Anderson, a leading theorist of democracy and social justice, joins Nick and Goldy for an exploration of the ethical limits of market, theories of value and rational choice, and true freedom. Elizabeth Anderson is the Arthur F. Thurnau Professor and John Dewey Distinguished University Professor of Philosophy and Women’s Studies at the University of Michigan. She is the author of Private Government: How Employers Rule Our Lives (and Why We Don’t Talk about It), and a recipient of the 2019 MacArthur Fellowship. Further reading: Private Government: https://press.princeton.edu/books/hardcover/9780691176512/private-government The philosopher redefining equality: https://www.newyorker.com/magazine/2019/01/07/the-philosopher-redefining-equality Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In this special bonus episode, Zach talks to political expert Michael Linden about the message that progressives can, and must, hammer home to win. Michael Linden is the Executive Director of the Groundwork Collaborative, an organization working to advance an economic vision for strong, broadly shared prosperity and true opportunity for all. Twitter: @MichaelSLinden Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Neoliberalism arose in the 1970s as a response to the failure of Keynesianism to deal with the effects of stagflation. But what is Keynesianism—and who is John Maynard Keynes? In this author interview, Goldy learns from the Keynes expert, HuffPost senior reporter Zachary Carter, how Keynes’ idea defined American liberalism for much of the 1900s. Zachary Carter is a senior reporter at HuffPost, where he covers economic policy and American politics. He is the author of the New York Times bestseller, ‘The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes’. Twitter: @zachdcarter The Price of Peace: https://www.indiebound.org/book/9780525509035 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Recessions are inevitable—but the complete economic catastrophe that we’ve experienced for the last five months was not. Professor Trevon Logan explains where we went wrong, debunks myths about the federal unemployment benefit (no, it doesn’t disincentivize people from returning to work!), and calls on Congress to steer us away from this economic cliff. Trevon Logan is a Professor of Economics and Associate Dean at Ohio State University, and Director of the American Economic Association Mentoring Program. He is also a Research Associate at the National Bureau of Economic Research. He specializes in economic history, economic demography, and applied microeconomics. Twitter: @TrevonDLogan Further reading: Vox: We are sleepwalking toward economic catastrophe Wall Street Journal: Lapse in Extra Unemployment Benefits to Hurt U.S. Recovery, Economists Say PBS NewsHour: The economics behind racial coronavirus disparities Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We know that state budget cuts and other austerity policies worsened the 2008 recession and led to a prolonged, uneven recovery. With state and local leaders already clamoring to meet the impending revenue shortfall caused by the COVID crisis, what have we learned, and what can we do differently? In this bonus episode, Paul talks to Groundwork Collaborative strategic advisor Kitty Richards about how states can act now to invest in their residents, bolster their economies, and push back against skyrocketing inequality. Kitty Richards is a freelance policy consultant and strategic advisor to the Groundwork Collaborative. She has previously worked on federal budget and tax policy at several think tanks, including the Center on Budget and Policy Priorities and the Center for American Progress, and has served as an economic policy staffer on Capitol Hill and in the White House. Twitter: @KittyRichardsDC Bolstering state economies by raising progressive taxes: https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI_BolsteringStateEconomies_IssueBrief_072020.pdf Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Child care in the U.S. has been in crisis mode for a long time. It’s wildly expensive for families to afford, and difficult for providers to make ends meet. But now, in the age of COVID-19, even the future existence of child care in America is in doubt. Jessyn and Nick tackle the value of care work, the impossibility of finding affordable child care, and the importance of feminist economics with economist Kate Bahn. Kate Bahn is the director of labor market policy and economist at the Washington Center for Equitable Growth. Her areas of research include gender, race, and ethnicity in the labor market, care work, and monopsonistic labor markets. Previously, she was an economist at the Center for American Progress. Bahn also serves as the executive vice president and secretary for the International Association for Feminist Economics. Twitter: @LipstickEcon Further reading: A feminist economic policy agenda in response to the COVID-19 pandemic and the quest for racial justice: https://equitablegrowth.org/a-feminist-economic-policy-agenda-in-response-to-the-covid-19-pandemic-and-the-quest-for-racial-justice/ America’s child care problem is an economic problem: https://www.vox.com/2020/7/16/21324192/covid-schools-reopening-daycare-child-care-coronavirus Where is the American Child Care Bailout? https://www.bloomberg.com/news/articles/2020-07-22/u-s-child-care-providers-need-a-bailout-fast Women’s work-life economics: https://equitablegrowth.org/womens-work-life-economics/ Child care is still the missing ingredient for a fast economic recovery: https://www.latimes.com/politics/story/2020-06-08/lack-of-childcare-options-missing-ingredient-fast-economic-recovery After coronavirus, nearly half of the day care centers in the U.S. could be gone: https://www.huffpost.com/entry/coming-child-care-crisis-coronavirus-covid-19_n_5ea1fab4c5b6bb28aa34b642?guccounter=1 Why child care is so ridiculously expensive: https://www.theatlantic.com/ideas/archive/2019/11/why-child-care-so-expensive/602599/ Senator Murray introduces $50 billion child care stabilization fund legislation: https://www.murray.senate.gov/public/index.cfm/newsreleases?ContentRecord_id=6CA6719F-5CF4-46F8-B3DC-05630F7C0AF1 Biden announces $75 billion plan to fund universal child care and in-home elder care: https://www.cnbc.com/amp/2020/07/21/biden-to-unveil-775-billion-plan-to-fund-child-care-and-elder-care.html Public education should be a birthright: https://crooked.com/articles/public-education-birthright/ If you support public schools, you should support universal child care: https://civicskunk.works/if-you-support-public-schools-you-should-support-universal-child-care-4944041934b1 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In 12 years, we’ve seen two economic crises with devastating long-term impacts. It seems by now we should be prepared to expect the unexpected… but instead, we’re relying on hastily prepared crisis legislation to save our economy. Again. Economist Lindsay Owens proposes an alternative plan: a standing, off-the-shelf program to stabilize the economy in the event of an economic emergency. Lindsay Owens is a Fellow at the Great Democracy Initiative, where her writing and research centers on a progressive economic agenda for housing, climate, labor, and healthcare. She previously served as Deputy Chief of Staff and Legislative Director to Representatives Pramila Jayapal and Keith Ellison and as Senior Economic Policy Advisor to Senator Elizabeth Warren. Twitter: @owenslindsay1 No more bailouts: https://greatdemocracyinitiative.org/document/no-more-bailouts/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

It’s less than 100 days until Election Day. What are the chances of political realignment? Is vote-by-mail a panacea? And how can despairing citizens contribute to real change? Civic Ventures President and campaign expert Zach Silk and veteran political strategist Cristina Uribe are joining forces to answer your questions about the 2020 election this week. Cristina Uribe is a veteran political strategist and manager working at the intersection of advocacy and politics. She has held senior management roles at several organizations, including California Director of the Ballot Initiative Strategy Center (BISC), Senior Advisor for Strategic Initiatives at the National Education Association (NEA), and Western Regional Director at EMILY’s List. She has led campaigns and civic engagement efforts in dozens of states across the country. Twitter: @curibeca Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Enjoy the full conversation with historian Nancy MacLean, with an extra twelve minutes that didn’t make it into this week’s episode. Nancy MacLean is an award-winning scholar of the twentieth-century U.S. 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 New York Times bestseller and finalist for the National Book Award, and The Nation magazine named it the “Most Valuable Book” of the year. Twitter: @NancyMacLean5

If it seems to you like the ultimate goal of the most extreme conservatives is to undermine democracy and cripple democratic institutions—well, according to historian Nancy MacLean, you’re right. This week, MacLean unpacks the meteoric rise in popularity of the radical right’s ideas, and offers a way forward for progressives, based on lessons from successful social movements throughout American history. Nancy MacLean is an award-winning scholar of the twentieth-century U.S. 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 New York Times bestseller and finalist for the National Book Award, and The Nation magazine named it the “Most Valuable Book” of the year. Twitter: @NancyMacLean5 Democracy in Chains: https://www.indiebound.org/book/9781101980965 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The foundational metaphor of neoliberalism is that a rising tide lifts all boats. But, like many other assumptions in economic thought, that idea willfully ignores racism. Economist Joelle Gamble joins Jessyn and Nick to explain that when economists fail to scrutinize theories through the lens of race, they perpetuate racist outcomes. Plus, The Sadie Collective co-founder Fanta Traore describes how the economics field can take deliberate measures to address the exclusion of Black economists. Joelle Gamble is a principal with the reimagining capitalism team at Omidyar Network, where she focuses on topics related to building the power of working people and shaping a new economic paradigm. Joelle writes on topics of race, labor, and technology, and sits on the board of directors of the Roosevelt Institute. Twitter: @joelle_gamble @OmidyarNetwork Fanta Traore is a Senior Research Assistant at the Federal Reserve Board of Governors and the co-founder and COO of The Sadie Collective. Twitter: @TheFantaTraore @SadieCollective Further reading: How economic assumptions uphold racist systems: https://www.dissentmagazine.org/online_articles/how-economic-assumptions-uphold-racist-systems An Open Letter to Economic Institutions In The Face of #BlackLivesMatter: https://medium.com/@sadiecollective/open-letter-to-economics-blm-5b38100e59b5 What the Big New Study About Race and Mobility Doesn’t Tell Us: https://www.thenation.com/article/archive/what-the-big-new-study-about-race-and-mobility-doesnt-tell-us/ Neoliberalism and Race: https://democracyjournal.org/magazine/53/neoliberalism-and-race/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Our global system is fragile because we made decisions that made it that way. Where did we go wrong? This week, New York Times columnist Thomas Friedman joins Nick and Goldy to suggest that greed and unfettered globalization are to blame for our vulnerable system, and to discuss what we need to do to get back on track. Thomas Friedman is a New York Times columnist, the author of six bestselling books, and a three-time Pulitzer Prize winner. Twitter: @tomfriedman Further reading: How We Broke the World: https://www.nytimes.com/2020/05/30/opinion/sunday/coronavirus-globalization.html America, We Break It, It’s Gone: https://www.nytimes.com/2020/06/02/opinion/trump-george-floyd-america.html Let’s Change Our Motto to ‘Out of Many, We’: https://www.nytimes.com/2020/06/09/opinion/trump-united-states.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Modern Monetary Theory is an attempt to accurately describe how government debt and complex financial systems actually work. MMT can help us responsibly use our resources, and no one is more knowledgeable on the subject than our returning guest this week, Professor Stephanie Kelton. As Congressional debates over the need for a new stimulus package heat up, Kelton explains the myths surrounding MMT and what a new understanding of the budget could do for our economy. Stephanie Kelton is a Professor of Economics and Public Policy at Stony Brook University. She is the leading expert on Modern Monetary Theory. Her new book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of flawed deficit thinking. Twitter: @StephanieKelton Further reading: The Deficit Myth: https://www.indiebound.org/book/9781541736184 Learn To Love Trillion-Dollar Deficits: https://www.nytimes.com/2020/06/09/opinion/us-deficit-coronavirus.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The fundamentals of economic thought are built on the idea that humans are fundamentally self-interested. But, according to historian Rutger Bregman, that’s a misconception — in fact, humans are fundamentally good, and if we want to realistically address our greatest challenges, we need to reconsider our view of our own human nature. Rutger Bregman is a historian. He has published four books on history, philosophy, and economics, including Utopia for Realists and his latest book, Humankind: A Hopeful History. Twitter: @rcbregman Further reading: Humankind: https://www.indiebound.org/book/9780316418539 The neoliberal era is ending. What comes next? https://thecorrespondent.com/466/the-neoliberal-era-is-ending-what-comes-next/61655148676-a00ee89a Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

COVID-19 has exposed the limits of the pharmaceutical market model. This week, patent law expert Tahir Amin joins the show to explain why vaccine development needs new incentives. Tahir Amin is an attorney dedicated to reshaping patent law to better serve the public. He is the Co-Founder and Co-ED of the Initiative for Medicines, Access, and Knowledge (I-MAK), a global nonprofit organization of attorneys, scientists, and health experts working on systemic changes to intellectual property and the political economy of pharmaceutical innovation. Twitter: @realtahiramin Further reading: Covid-19 has exposed the limits of the pharmaceutical market model: https://www.statnews.com/2020/05/19/covid-19-exposed-limits-drug-development-model/ No vaccine in sight: https://newrepublic.com/article/157594/no-coronavirus-vaccine-big-pharma-drug-patent-system Democrats punt on drug-pricing overhaul in virus relief measure: https://news.bloomberglaw.com/health-law-and-business/democrats-punt-on-drug-pricing-overhaul-in-virus-relief-measure Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Budgets are a reflection of our values, and the money we budget for the police is no exception. Our state and local budgets for what we call “safety” are not getting outcomes that reflect our morals. Seattle-area King County Councilmember Girmay Zahilay joins Nick and Jessyn to lay out five policies elected officials should be pledging to support right now to re-imagine public safety. Girmay Zahilay is a member of the King County Council from District 2. He is an attorney, non-profit founder, and organizer. Twitter: @GirmayZahilay Further reading: City council will consider defunding Seattle Police: https://crosscut.com/2020/06/city-council-will-consider-defunding-seattle-police Washington state’s other epidemic: Mass incarceration: https://crosscut.com/2020/03/washington-states-other-epidemic-mass-incarceration Defund the police? Here’s what that really means: https://www.washingtonpost.com/opinions/2020/06/07/defund-police-heres-what-that-really-means/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

This week, we are participating in #PodcastBlackout to amplify the seriousness of the need for action to address institutional racism and police violence. After a brief note from Nick, this episode will air 8 minutes and 46 seconds of silence. Below, we've included organizations that are doing the anti-racist work to reform power structures in this country — we hope that you'll turn your attention to them. 8 Minutes and 46 Seconds: How George Floyd Was Killed in Police Custody: https://www.nytimes.com/2020/05/31/us/george-floyd-investigation.html Donate to, follow, support, and learn from: Black Lives Matter: https://blacklivesmatter.com/ Campaign Zero (police accountability): https://www.joincampaignzero.org/ The Bail Project: https://bailproject.org/ National Bail Fund Network (find bail funds in your area): https://www.communityjusticeexchange.org/nbfn-directory NAACP Legal Defense Fund: https://www.naacpldf.org/ Know Your Rights Camp Covid-19 Relief Fund: https://www.knowyourrightscamp.com/covid19 Fair Fight (organizing against voter suppression): https://fairfight.com/ The Innocence Project: https://www.innocenceproject.org/ ACLU: https://www.aclu.org/ George Floyd Memorial Fund: https://www.gofundme.com/f/georgefloyd Justice for Ahmaud Arbery Fundraiser: https://www.gofundme.com/f/i-run-with-maud Justice for Breonna Taylor Petition and Fundraiser: https://www.change.org/p/andy-beshear-justice-for-breonna-taylor

Why are rich corporations getting more stimulus money from the government, and getting it faster, than small businesses and individuals? Matt Stoller returns to the show to explain how recovery funds are distributed: Money isn’t neutral, and how money travels matters. Matt Stoller is the author of BIG, a newsletter about monopoly and finance, and the Director of Research at the American Economic Liberties Project. His recent book, ‘Goliath: The 100-Year War Between Monopoly Power and Democracy’, examines how concentrated financial power and consumerism transformed American politics. Twitter: @matthewstoller Further reading: Subscribe to BIG: https://mattstoller.substack.com/welcome The Cantillon Effect: Why Wall Street gets a bailout and you don’t: https://mattstoller.substack.com/p/the-cantillon-effect-why-wall-street Congress “CARES” for Wealthy with COVID-19 Tax Policy Provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/ The Relief Package Ushers in Trump’s Planned Economy: https://www.wired.com/story/the-relief-package-ushers-in-trumps-planned-economy/ End Shareholder Primacy Once and For All: http://bostonreview.net/class-inequality/lenore-palladino-end-shareholder-primacy-once-and-all We All Have a Stake in the Stock Market, Right? Guess Again: https://www.nytimes.com/2018/02/08/business/economy/stocks-economy.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the pandemic clearly demonstrates that the markets aren’t the efficient adapters that classic economists believe them to be. Nobel laureate economist Joseph Stiglitz explains why the tendency to believe in the market is one of the most deeply rooted trickle-down myths, and why government intervention is the best way forward through this economic downturn. Joseph Stiglitz is a Nobel laureate economist and a professor at Columbia University. He is also the co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute. In 2011, Stiglitz was named by Time magazine as one of the 100 most influential people in the world. Known for his pioneering work on asymmetric information, Stiglitz focuses on income distribution, risk, corporate governance, public policy, macroeconomics, and globalization. His most recent book, People, Power, and Profits, was just released in paperback. Twitter: @JosephEStiglitz Further reading: People, Power, and Profits: Progressive Capitalism for an Age of Discontent: https://www.indiebound.org/book/9781324004219 Four Priorities for Pandemic Relief Efforts: https://rooseveltinstitute.org/four-priorities-for-covid19-pandemic-relief-efforts/ Why Our Affluent Society Is Facing Shortages in the Face of the Coronavirus Pandemic: https://time.com/5811505/affluent-society-shortages-coronavirus-pandemic/ Deficit Lessons for the Pandemic From the 2008 Crisis: https://prospect.org/economy/deficit-lessons-pandemic-2008-crisis/ How the Economy Will Look After the Coronavirus Pandemic: https://foreignpolicy.com/2020/04/15/how-the-economy-will-look-after-the-coronavirus-pandemic/ Top economist: US coronavirus response is like ‘third world’ country: https://www.theguardian.com/business/2020/apr/22/top-economist-us-coronavirus-response-like-third-world-country-joseph-stiglitz-donald-trump Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Paul is joined this week by radio host Thom Hartmann to introduce Thom’s most recent book, ‘The Hidden History of the War on Voting: Who Stole Your Vote and How to Get It Back’. In this poignant interview, Thom explains the strategies and tactics that elites have long employed to disenfranchise American citizens and suppress votes. Thom Hartmann is a progressive national and internationally syndicated talk show host. Talkers magazine named him America's most important progressive host and has named his show one of the top ten talk radio shows in the country every year for over a decade. A four-time recipient of the Project Censored Award, Hartmann is also a New York Times bestselling author of twenty-six books, translated into multiple languages. Twitter: @Thom_Hartmann Further reading: The Hidden History of the War on Voting: https://www.indiebound.org/book/9781523087785?aff=penguinrandom Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The burdens of this pandemic are not borne equally. Economists Heather Boushey and Michelle Holder join the show this week to expose how the coronavirus is exacerbating the already-deep inequalities in our society. Heather Boushey is the President & CEO and co-founder of the Washington Center for Equitable Growth. She is one of the nation’s most influential voices on economic policy and a leading economist who focuses on the intersection between economic inequality, growth, and public policy. Her latest book is Unbound: How Economic Inequality Constricts Our Economy and What We Can Do About It. Twitter: @HBoushey Michelle Holder is an Assistant Professor of Economics at John Jay College, City University of New York. Prior to joining the John Jay faculty, she worked professionally as an economist for over a decade in both the nonprofit and government sectors. Her research focuses on blacks and women in the American labor market, and her economic policy reports have been covered by the New York Times, the Wall Street Journal, the New York Amsterdam News, and El Diario. Her first book African American Men and the Labor Market during the Great Recession was released from Palgrave Macmillan in 2017. Michelle’s educational background includes master’s and doctoral degrees in economics from the New School for Social Research in NYC, and a Bachelor’s degree in economics from Fordham University. Twitter: @mlholder999 Further reading: Unbound: https://www.hup.harvard.edu/catalog.php?isbn=9780674919310 The coronavirus recession and economic inequality: a roadmap to recovery and long-term structural change: https://equitablegrowth.org/the-coronavirus-recession-and-economic-inequality-a-roadmap-to-recovery-and-long-term-structural-change/ The “Double Gap” and the Bottom Line: https://rooseveltinstitute.org/wp-content/uploads/2020/03/RI_DoubleGap_Report_202003.pdf Before COVID-19, corporate America shortchanged black women $50 billion annually: Why all women should care: https://msmagazine.com/2020/04/07/before-covid-19-corporate-america-shortchanged-black-women-50-billion-annually-why-all-women-should-care/ Inequality and poverty were destroying America well before Covid-19: https://www.thenation.com/article/society/inequality-and-poverty-were-destroying-america-well-before-covid-19/ Our uniquely American virus: https://prospect.org/coronavirus/our-uniquely-american-virus/ Black Americans face alarming rates of coronavirus infection in some states: https://www.nytimes.com/2020/04/07/us/coronavirus-race.html The coronavirus pandemic and the racial wealth gap: https://www.americanprogress.org/issues/race/news/2020/03/19/481962/coronavirus-pandemic-racial-wealth-gap/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

When revenues and expenses don’t add up in times of crisis, governments often turn to budget cuts and other austerity measures to balance their accounts. But economists widely agree that the most valuable lesson from the Great Recession is that austerity made the recession worse and slowed down recovery. Mike Konczal joins the show this week to explain why, in a recession, stimulus is particularly powerful and austerity is particularly harmful. Mike Konczal is the Director of Progressive Thought at the Roosevelt Institute, where he works on financial reform, unemployment, inequality, and a progressive vision of the economy. He is a columnist at Vox, a contributor to The Nation, and a contributing editor at Dissent. Twitter: @rortybomb @rooseveltinst Further reading: A forward-thinking policy response to the coronavirus recession: https://rooseveltinstitute.org/forward-thinking-policy-response-coronavirus-recession/ The stimulus plan that we need now: https://www.thenation.com/article/economy/coronavirus-stimulus/ With a uniquely fragile economy, stimulus is not enough: https://bostonreview.net/class-inequality-politics/mike-konczal-felicia-wong-uniquely-fragile-economy-stimulus-not-enough Portugal dared to cast aside austerity. It’s having a major revival: https://www.nytimes.com/2018/07/22/business/portugal-economy-austerity.html Worst recovery in postwar era largely explained by cuts in government spending: https://www.epi.org/blog/worst-recovery-in-post-war-era-largely-explained-by-cuts-in-government-spending/ What have we learned about austerity since the Great Recession? https://www.americanprogress.org/issues/economy/reports/2014/05/30/90621/what-have-we-learned-about-austerity-since-the-great-recession/ The United States is not ready for a recession, but it can be: https://www.americanprogress.org/issues/economy/reports/2019/09/27/475075/united-states-not-ready-recession-can/ Austerity is hammering state economies: https://www.americanprogress.org/issues/economy/reports/2012/06/21/11672/austerity-is-hammering-state-economies/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Prolific voice actor Jennifer Hale joins Paul and Stephen to discuss her work in two very different fields: the video game industry, which largely isn't unionized, and the animated film industry, which enjoys strong union protections. Jennifer Hale is a voice actress known for her work in video game series including Baldur’s Gate, Mass Effect, Halo, World of Warcraft, Spider Man, and many more. In 2013, she was recognized by Guinness World Records as the most prolific female video game voice actor. Twitter: @jhaletweets Further reading: As video games make billions, the workers behind them say it’s time to unionize: https://www.latimes.com/business/technology/la-fi-tn-video-game-union-movement-20190412-story.html Game makers stare down major union drive: https://www.hollywoodreporter.com/news/video-game-makers-stare-down-major-union-drive-1269510 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Pathogens are inevitable—but the scale of disaster accompanying this pandemic was not. Ronald Klain, President Obama’s Ebola czar, joins Nick and Goldy to discuss why the extent of economic collapse and deaths we’ve seen from COVID-19 is borne of government unpreparedness and leadership failure, not fate. Ronald Klain is a lawyer who served as the White House Ebola response coordinator for President Obama. He has held a wide variety of legal and policy positions in government, including his service as chief of staff to VPs Biden and Gore, chief of staff to the attorney general, associate counsel to the president, and chief counsel to the Senate Judiciary Committee. He is currently an advisor to the Biden 2020 campaign. Twitter: @RonaldKlain Further reading: Confronting the Pandemic Threat: https://democracyjournal.org/magazine/40/confronting-the-pandemic-threat/ We’re past ‘if’ on the coronavirus. We’re on to ‘how bad will it be?’: https://www.washingtonpost.com/opinions/the-coronavirus-has-landed-in-the-us-heres-how-we-can-reduce-the-risk/2020/01/22/afebe9ee-3d53-11ea-baca-eb7ace0a3455_story.html Trump says US has coronavirus ‘completely under control’ as Washington state confirms first case outside of Asia: https://www.independent.co.uk/news/world/americas/trump-coronavirus-china-wuhan-disease-outbreak-airport-screening-travel-a9296926.html Obama’s ebola czar on what strong federal response looks like: https://www.wired.com/story/ebola-czar-ron-klain-federal-coronavirus-response/ The huge cost of waiting to contain the pandemic: https://www.nytimes.com/2020/04/14/opinion/covid-social-distancing.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

What does the future of American sports look like? Okay, okay—we know this is out of our wheelhouse. But this week, we’re examining how the global pandemic has affected one very specific corner of the economy: professional sports leagues. Expert Andrew Brandt lays out the scale of losses due to cancellations in an industry that generates $80 billion a year just in direct revenue for North American leagues—plus several hundreds of billions more in indirect revenue for ancillary businesses (like the folks who staff the arenas). Andrew Brandt is Professor of Practice and Executive Director of the Moorad Center for the Study of Sports Law at Villanova Law School. A contributor to ESPN and Sports Illustrated, he is also the host of the ‘Business of Sports’ podcast. Twitter: @AndrewBrandt Clips from CBS Evening News, NBC Sports, and ABC News. Further reading: The Coronavirus’s Economic Effect On Sports Could Be Staggering: https://fivethirtyeight.com/features/the-coronaviruss-economic-effect-on-sports-could-be-staggering/ Nearly 75% of Americans Wouldn’t Attend Games If No COVID-19 Vaccine Is Developed, Poll Says: https://www.si.com/sports-illustrated/2020/04/09/poll-sports-coronavirus-return Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

How does our response to the coronavirus pandemic compare to our response 100 years ago, when what is commonly known as the “Spanish Flu” swept through America? Historian Nancy Bristow helps Annie understand the lessons American society learned from the 1918 influenza epidemic, and what we haven’t yet gotten right. Nancy Bristow is the History Department Chair at the University of Puget Sound, where she teaches twentieth-century American history with an emphasis on race, gender, and social change. She is the author of ‘American Pandemic: The Lost Worlds of the 1918 Influenza Epidemic’. Twitter: @univpugetsound @NancyKBristow Further reading: American Pandemic on Bookshop.org, an independent site that’s raising money for independent bookstores that are closed during the pandemic: https://bookshop.org/books/american-pandemic-the-lost-worlds-of-the-1918-influenza-epidemic/9780190238551 Or on IndieBound: https://www.indiebound.org/book/9780190238551 Cities that went all in on social distancing in 1918 emerged stronger for it: https://www.nytimes.com/interactive/2020/04/03/upshot/coronavirus-cities-social-distancing-better-employment.html Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The Coronavirus Aid, Relief, and Economic Security Act (CARES) is big—but not big enough to protect working people. Economist Heidi Shierholz joins the show to explain where CARES falls short, and to recommend the safeguards we need to include in future bailout packages. Heidi Shierholz is a Senior Economist and Director of Policy at the Economic Policy Institute. Her team monitors wage and employment policies coming out of Congress and the administration, and advances a worker-first policy agenda. Twitter: @hshierholz @EconomicPolicy (News clip from FOX 17 VXMI) Further reading: Despite some good provisions, the CARES Act has glaring flaws and falls short of fully protecting workers during the coronavirus crisis: https://www.epi.org/blog/despite-some-good-provisions-the-cares-act-has-glaring-flaws-and-falls-short-of-fully-protecting-workers-during-the-coronavirus-crisis/ A widening toll on jobs: ‘This thing is going to come for us all’: https://www.nytimes.com/2020/04/02/business/economy/coronavirus-unemployment-claims.html Does the stimulus package pass the test? https://civicskunk.works/does-the-stimulus-package-pass-the-test-a070bf4922dc 3.5 million workers likely lost their employer-provided health insurance in the past two weeks: https://www.epi.org/blog/3-5-million-workers-likely-lost-their-employer-provided-health-insurance-in-the-past-two-weeks/ Nearly 20 million workers will likely be laid off or furloughed by July: https://www.epi.org/blog/nearly-20-million-jobs-lost-by-july-due-to-the-coronavirus/ The CARES Act’s aid to state and local governments isn’t enough to shield vital public services from the coronavirus shock: https://www.epi.org/blog/the-cares-acts-aid-to-state-and-local-governments-isnt-enough-to-shield-vital-public-services-from-the-coronavirus-shock-lessons-from-the-great-recession-tell-us-why/ States get billions in record stimulus - but say it’s not enough: https://www.politico.com/states/new-york/albany/story/2020/03/26/states-get-billions-in-record-stimulus-but-say-its-not-enough-1269230 Here are safeguards needed in bailout packages to protect working people and fight corporate greed: https://www.epi.org/blog/any-industry-bailout-package-must-include-meaningful-protections-for-working-people-and-guardrails-against-corporate-greed/ A portrait of disaster: https://www.epi.org/press/a-portrait-of-disaster-initial-ui-claims-jump-from-211000-to-6-6-million-in-three-weeks/ Policymakers twice missed the chance to avert widespread job loss, now they should act to avoid more layoffs: https://www.epi.org/blog/policymakers-twice-missed-the-chance-to-avert-widespread-job-loss-now-they-should-act-to-avoid-more-layoffs/ Congress “CARES” for wealthy with COVID-19 tax policy provisions: https://itep.org/congress-cares-for-wealthy-with-covid-19-tax-policy-provisions/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

How bad will this recession be? Why is Congress bailing out big corporations that had record profits last year? What would happen if stock buybacks were permanently eliminated? This week, Nick and Goldy answer your questions about the economy in the time of COVID-19. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

In his latest book, Nobel Prize-winning economist and New York Times columnist Paul Krugman argues that economics has been eaten from within by bad assumptions he calls “zombie ideas.” You’ve encountered these zombies before: the idea that cutting taxes creates growth, or that providing healthcare for an entire country is too expensive. This week, Krugman joins Nick and Goldy in the fight to win economic models back from the neoclassical undead. Paul Krugman is a professor of economics and international affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, he was the recipient of the Nobel Memorial Prize in Economic Sciences for his work on international trade theory. He is the author or editor of 23 books, including the recently published Arguing with Zombies: Economics, Politics, and the Fight for a Better Future. Twitter: @paulkrugman Arguing with Zombies: https://www.penguinrandomhouse.ca/books/625526/arguing-with-zombies-by-paul-krugman/9781324005018 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

As the world shelters in place from the coronavirus pandemic, an economic crisis is growing. This week, Nick and Goldy pull the curtain back on why trickle-down has made us extra vulnerable to disasters like COVID-19. Our focus always, but especially now, should be on building a more resilient and inclusive economy that can actively protect people from ruin and tragedy. The only limit to our ability to address this crisis is our imagination and our willingness to act. Further reading: Hurricanes hit the poor the hardest: https://www.brookings.edu/blog/social-mobility-memos/2017/09/18/hurricanes-hit-the-poor-the-hardest/ Insult to Injury: Natural Disasters and Residents’ Financial Health: https://www.urban.org/research/publication/insult-injury-natural-disasters-and-residents-financial-health How natural disasters can increase inequality: https://www.pbs.org/newshour/economy/making-sense/how-natural-disasters-can-increase-inequality Poverty and Death: Disaster and Mortality 1996-2015: https://reliefweb.int/report/world/poverty-death-disaster-and-mortality-1996-2015 Poll: Nearly 1 in 5 Households Have Lost Work Because of Pandemic: https://www.npr.org/2020/03/17/817158521/poll-nearly-1-in-5-households-have-lost-work-because-of-pandemic Mnuchin warns senators of 20% US unemployment without coronavirus rescue, source says: https://www.cnbc.com/2020/03/18/mnuchin-warns-senators-of-20percent-us-unemployment-without-coronavirus-rescue-source-says.html Coronavirus shock will likely claim 3 million jobs by summer: https://www.epi.org/blog/coronavirus-shock-will-likely-claim-3-million-jobs-by-summer/ News clips from CBS News and ABC News Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

A budget is a moral document that reflects what we value and prioritize. But to most people, the budget-making process is convoluted and confusing. Budget expert Bob Greenstein joins Nick and Jasmin this week to explain how a budget is made, and how these mind-bogglingly huge numbers impact everyday life. Bob Greenstein is the Founder and President of the Center of Budget and Policy Priorities, a nonpartisan research and policy institute that analyzes federal budget priorities. Greenstein is considered an expert on the federal budget and a range of domestic policy issues, including anti-poverty programs and various aspects of tax and health care policy. Twitter: @GreensteinCBPP @CenterOnBudget Further reading: Trump’s budget will wreak havoc on the American economy: https://www.cnn.com/2020/02/20/perspectives/trump-budget-economy/index.html 2021 Trump Budget Would Increase Hardship and Inequality: https://www.cbpp.org/research/federal-budget/2021-trump-budget-would-increase-hardship-and-inequality News clips from PBS NewsHour and Bloomberg Politics. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Why is right now the easiest time in modern history for the wealthy to get away with whatever they want? HuffPost reporter and fellow Seattleite Michael Hobbes joins Zach in the studio for a deep dive into his most recent article about white collar crime. Michael Hobbes covers the new economy for HuffPost and is the co-host of the podcast “You’re Wrong About”. Twitter: @RottenInDenmark @HuffPost Further reading: The Golden Age of White Collar Crime: https://www.huffpost.com/highline/article/white-collar-crime/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Pretend every economic problem we’ve ever discussed on this podcast has magically been solved. What’s next? What are the economic problems that we’ll face a decade from now? This week, Nick and Goldy are joined by futurist Kevin Kelly for a conversation based on a voicemail left by Pitchfork Economics listener Cody from Florida. Thanks, Cody! You can call and leave us a voicemail, too—in fact, we would love it if you did! Our number is (731) 388-9334. Kevin Kelly is Senior Maverick and co-founder at Wired. He has written for The New York Times, The Economist, Science, Time, and The Wall Street Journal among many other publications. His most recent book, The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future, is a New York Times Bestseller. Twitter: @kevin2kelly Further reading: The Inevitable: https://www.indiebound.org/book/9780525428084 Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

You can’t talk about philanthropy without mentioning Darren Walker. As the president of the Ford Foundation, Walker has been charged with reimagining one of the largest philanthropic endowments in the world. This week he joins Nick and Jessyn in a conversation about transforming philanthropy to meet the challenges of structural inequality. Darren Walker is president of the Ford Foundation. He chaired the philanthropy committee that brought a resolution to the city of Detroit’s historic bankruptcy and is co-founder and chair of the US Impact Investing Alliance. Before joining Ford, Darren was vice president at the Rockefeller Foundation. Twitter: @darrenwalker @FordFoundation Further reading: From Generosity to Justice: https://www.fordfoundation.org/ideas/ford-forum/the-future-of-philanthropy/from-generosity-to-justice/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Democracy in Chains is required reading around the Civic Ventures office, and Paul is happy to explain why it’s earned must-read status. Listen, be convinced, go read! Democracy in Chains: https://www.indiebound.org/book/9781101980965 Paul’s twitter: @paulconstant Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

We’re continuing the conversation about reimagining capitalism this week with Professor Steve Keen, one of the biggest names in alternative economics. What would society look like if we stopped believing in long-held economic fictions like meritocracy and the equilibrium system? Steve Keen has spent his career working to develop an alternative, realistic economics. He is the author of Debunking Economics and the designer of Minsky, an open source dynamic modelling program that makes it possible for anyone to build and understand monetary models of the economy. He was one of the first economists to correctly predict the 2008 financial crisis and its causes. Twitter: @ProfSteveKeen Steve Keen’s work is funded through Patreon: https://www.patreon.com/ProfSteveKeen Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com Further reading: Debunking Economics: https://www.goodreads.com/book/show/10303367-debunking-economics---revised-and-expanded-edition Minsky download: https://sourceforge.net/projects/minsky/ Inequality, Debt, and Credit Stagnation: https://www.debtdeflation.com/blogs/2016/07/05/inequality-debt-and-credit-stagnation/ Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

On Tuesday’s episode, Anu Partanen mentioned the Finnish civil war, which divided the country between elite land-owners and the working class. That’s right up our pitchforks alley - so we called an expert, Finnish professor Tuomas Tepora, for a history lesson. Tuomas Tepora is a lecturer in history at the University of Helsinki. His research deals with a wide variety of topics related to the cultural history of war and the history of emotions. Twitter: @TTepora 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. 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 Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Goldy’s in the studio today answering your questions! Up for debate this time: What’s the line between needing to budget more and just not making enough money? Will raising the minimum wage hurt small, rural businesses? And how is public opinion about the difference between worker and CEO pay changing? Find Goldy on Twitter: @GoldyHA Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

The average family earning $25,000 a year in the U.S. spends about $2,400 on financial transactions. Whether it’s the astronomical interest rates of a payday loan or the costs that come with being unbanked, the extractive practices of the financial services industry are effectively keeping the poor in poverty. Lawyer and author Mehrsa Baradaran and economic mobility expert Cate Blackford join Nick and Steph this week to explain why banking while poor is so expensive, and what states can do to rein in the people who profit from it. Mehrsa Baradaran is a professor of law at UC Irvine. She writes about banking law, financial inclusion, inequality, and the racial wealth gap. Her scholarship includes the books How the Other Half Banks and The Color of Money: Black Banks and the Racial Wealth Gap. Twitter: @MehrsaBaradaran Cate Blackford is the Director of Outreach and Donor Development at the Bell Policy Center, where she leads the Financial Equity Coalition to eradicate systemic discrimination and hold financial predators accountable. She was the Co-Chair of the 2018 Proposition 111 campaign in CO to limit the interest lenders could charge on payday loans and eliminate fees from payday lending products, which passed with 75% of the vote. Twitter: @catetiller @BellPolicy Further reading: How the Other Half Banks: https://www.hup.harvard.edu/catalog.php?isbn=9780674983960 The Color of Money: https://www.hup.harvard.edu/catalog.php?isbn=9780674237476 If the U.S. Government Treated Poor People as Well as It Treats Banks: https://www.theatlantic.com/business/archive/2015/10/if-the-us-government-treated-poor-people-as-well-as-it-treats-banks/410614/ CO’s Prop 111 explained: https://coloradosun.com/2018/10/22/proposition-111-colorado-2018-explained/ Briefed by the Bell - Predatory Economy: https://www.bellpolicy.org/2018/09/10/predatory-economy/ How Do Payday Loans Work? https://www.incharge.org/debt-relief/how-payday-loans-work/ Make sure you check out Majority.FM’s AM Quickie, the morning news podcast for progressives in the know: amquickie.com 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. 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/

You’re probably aware of the term ‘NIMBY’, which refers to the folks who show up at their neighborhood meetings to fight development. The ‘Not In My Backyard’ argument is pervasive in urban and rural areas alike, and it’s notorious for impeding much-needed housing reform. This week, Paul recommends ‘Neighborhood Defenders: Participatory Politics and America’s Housing Crisis’, a book that dives into the NIMBY mind and explains the connections between these neighborhood defenders and America’s growing housing crisis. Paul’s twitter: @paulconstant Neighborhood Defenders: https://www.cambridge.org/core/books/neighborhood-defenders/0677F4F75667B490CBC7A98396DD527A Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies. David Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it. News clips credit: CNBC, KING 5, NPR, Democracy Now! Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us. Twitter: @RanaForoohar / @FT / @CNN David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His is the author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. Twitter: @ddayen / @theprospect Further reading: Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/ Makers and Takers: https://www.ranaforoohar.com/makersandtakers How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer