Pitchfork Economics with Nick Hanauer

What can the history of human progress teach us about modern inequality? In his new book, ‘The Journey of Humanity: The Origins of Wealth and Inequality,’ economist Oded Galor explores that question, as well as why human progress was stagnant for so much of history, if growth is still possible without ruining the planet, and what this all means for our future. Oded Galor is a Professor of Economics at Brown University and the founding thinker behind Unified Growth Theory. He’s also the author of The Journey of Humanity: The Origins of Wealth and Inequality.Twitter: @GalorOdedThe Journey of Humanity https://www.penguinrandomhouse.com/books/679024/the-journey-of-humanity-by-oded-galor/ Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

When it comes to crafting economic policy, cost-effectiveness, efficiency, choice, and competition have reigned supreme among policymakers for decades. Sociologist Elizabeth Popp Berman says that this style of economic reasoning—prioritizing efficiency above all else—makes good ideas seem like bad policy. She walks us through how that short-sighted style of thinking took hold in DC and explains when policymakers are right to lean on purely economic thinking—and when they should reject it in favor of prioritizing more fundamental values. Elizabeth Popp Berman is a sociologist at the University of Michigan and the author of “Thinking Like an Economist: How Efficiency Replaced Equality in U.S. Public Policy”. Twitter: @epoppppEconomics: Looking Back to Move Forward https://democracyjournal.org/magazine/64/economics-looking-back-to-move-forward Thinking Like an Economist: How Efficiency Replaced Equality in U.S. Public Policy https://press.princeton.edu/books/hardcover/9780691167381/thinking-like-an-economist Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Dr. Faiza Shaheen discusses successful global strategies to reduce inequality including solidarity taxes in countries like Germany and Japan. She highlights the challenges faced by high-income nations and proposes bold policy ideas for green investment and child care. The conversation digs into historical elitism and colonial legacies, emphasizing the importance of grassroots movements and political will for progressive change.

john a. powell, the Director of the Othering & Belonging Institute, explains why the concept of belonging is so important for a healthy community and why inclusion is the key to a thriving economy. john a. powell is the Director of the Othering & Belonging Institute at the University of California, Berkeley.Twitter: @profjohnapowellTargeted universalism: a solution for inequality? https://www.cbs8.com/article/news/local/california/targeted-universalism/509-2127090b-7f50-4a91-91e7-04c47acf3309 Othering & Belonging Institute https://belonging.berkeley.edu/john-powell Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Gas prices have reached record highs in the United States. Is inflation actually to blame, or is it the greed of Big Oil, which is enjoying record profits? Congressman Ro Khanna walks us through his proposal for a Big Oil Windfall Profits Tax, which he says will help curb profiteering while reducing gas prices. Congressman Ro Khanna represents California’s 17th Congressional District. He’s the author of Dignity in a Digital Age: Making Tech Work for All of Us.Twitter: @RoKhanna Big Oil Windfall Profits Tax would protect consumers from giant oil companies taking advantage of world events to jack up prices https://khanna.house.gov/media/press-releases/release-gasoline-prices-sky-high-khanna-whitehouse-announce-curb-big-oilDignity in a Digital Age https://www.simonandschuster.com/books/Dignity-in-a-Digital-Age/Ro-Khanna/9781982163341Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

The Biden Administration’s 2023 budget proposal includes a Billionaire Minimum Income Tax and a rewrite of stock buyback practices. Will these changes actually take effect? If so, will they do enough to curb runaway corporate power? Niko Lusiani from the Roosevelt Institute breaks down what’s inside Biden’s budget.Niko Lusiani is the Director of Corporate Power at the Roosevelt Institute. Twitter: @NikoLusianiBudget of the U.S. Government https://www.whitehouse.gov/wp-content/uploads/2022/03/budget_fy2023.pdf Roosevelt Institute Responds to Billionaire Minimum Income Tax Proposal in Biden Administration FY 2023 Budget https://rooseveltinstitute.org/2022/03/28/statement-roosevelt-institute-responds-to-billionaire-minimum-income-tax-proposal/ Starbucks Halts Stock Buybacks as Schultz Returns https://www.usnews.com/news/business/articles/2022-04-04/starbucks-halts-stock-buybacks-as-schultz-pivots-to-workers#:~:text=Starbucks%20announced%20late%20last%20year,the%20company%20announced%20in%202018Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

The idea behind private equity firms—to buy failing companies and turn them around for a profit—is not inherently bad. So why is private equity such a major driver of economic inequality? Jim Baker, the Executive Director for the Private Equity Stakeholder Project, explains these Wall Street pirates’ risky business practices and shows how workers are paying the price. Jim Baker is the Executive Director for the Private Equity Stakeholder Project Twitter: @PEstakeholderPirate Equity: How Wall Street Firms are Pillaging American Retail https://pestakeholder.org/wp-content/uploads/2019/08/Pirate-Equity-How-Wall-Street-Firms-are-Pillaging-American-Retail-July-2019.pdf  Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

In 2019, a group of business leaders signed a high-profile pledge promising that they would voluntarily move toward a more inclusive stakeholder-focused version of capitalism. But throughout the pandemic, those same companies reported record profits while workers were left behind. Brookings Institute Senior Fellow Katie Bach walks us through her new report examining the pandemic labor practices of 22 companies, spanning nearly every sector, and employing more than 7 million frontline workers. Katie Bach is a Nonresident Senior Fellow at the Brookings Institute and the CBO of &pizza.Twitter: @kathrynsbachAs shareholder wealth soared, workers were left behind https://www.brookings.edu/research/profits-and-the-pandemic-as-shareholder-wealth-soared-workers-were-left-behind Website: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’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 spiraled 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. This episode was originally recorded and released in May 2021.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: @BobFergusonAGNoncompete agreements have pushed U.S. wages even lower, saysa new Biden administration report: https://www.fastcompany.com/90729820/noncompete-agreements-have-pushed-u-s-wages-even-lower-says-a-new-biden-administration-report 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.htmlWorkers 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: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

It’s trendy to mock the malicious pervasiveness of neoliberalism now, but have you ever wondered what its origins are? This week, George Monbiot and Binyamin Appelbaum join the show to uncover just where the dominant economic theory of our time came from and how it took hold. This episode was originally recorded and released in October 2019.George Monbiot writes a weekly column for The Guardian and is the author of a number of books, most recently ‘Out of the Wreckage: A New Politics for an Age of Crisis’. As an investigative journalist and self-described “professional troublemaker,” George uncovers the complicated truths behind the world’s most persistent problems. Twitter: @GeorgeMonbiotBinyamin Appelbaum writes about economics and business for the editorial page of The New York Times. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy in the aftermath of the 2008 crisis. His new book, ‘The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society’ is a Wall Street Journal Business Bestseller. Twitter: @BCAppelbaumFurther reading: Out of the Wreckage: https://www.indiebound.org/book/9781786632890The Economists’ Hour: https://www.indiebound.org/book/9780316512329Neoliberalism - the ideology at the root of all our problems: https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiotGames Economists Play: http://bostonreview.net/class-inequality/marshall-steinbaum-games-economists-playWebsite: http://pitchforkeconomics.com/Twitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer