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Pitchfork Economics with Nick Hanauer
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Pitchfork Economics with Nick Hanauer

Author: Civic Ventures

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Any society that allows itself to become radically unequal eventually collapses into an uprising or a police state—or both. Join venture capitalist Nick Hanauer and some of the world’s leading economic and political thinkers in an exploration of who gets what and why. Turns out, everything you learned about economics is wrong. And if we don’t do something about rising inequality, the pitchforks are coming.

122 Episodes
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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
Podcast Blackout

Podcast Blackout

2020-06-0209:47

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
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Comments (54)

ncooty

As soon as Sarah started croaking with her severe vocal fry, I had to stop listening.

Aug 13th
Reply

ncooty

When Molly started talking, I stopped listening. I find severe up-talk extremely annoying.

Aug 12th
Reply

ncooty

Are there ANY women under the age of 60 who know how to speak without vocal fry or up-talk?

Aug 11th
Reply (1)

ncooty

One of the sad ironies of this podcast is that, despite all the legitimate criticisms of the field of economics, the hosts KEEP interviewing economists on topics for which far more advanced fields are relevant--e.g., psychology, biology, etc. Stop interviewing economists. They typically pompously present over-simplifications and misunderstandings.

Aug 8th
Reply

ncooty

Her vocal fry and up-talk are incredibly annoying. Why must so many podcast guests use those awful affectations?!

Aug 8th
Reply (1)

ncooty

Ms. Smarsh was a great guest! (Great to hear a young, intelligent woman discussing genuine substance with a coherent sense of synthesis... and with no vocal fry!) Looking forward to following up on her writing. Thanks for interviewing her!

Aug 3rd
Reply

ncooty

@20:19: I think it's unhelpful--even dangerous--to refer to the "natural cycle" of these events. That framing is inaccurate, it's disempowering, and it feeds into what Popper called the poverty of historicism.

Aug 1st
Reply

ncooty

All the talk of racism strikes me as ambiguous accusations. I don't hear any evidence, substance, or specificity there. It sounds like dangerous virtue-signalling and over-simplification. For example, they seem to discuss race as a proxy for poverty, yet not all minority-race people are poor and not all poor people are of minority races. So, when discussing predatory lending, why make accusations about racism when poverty alone accounts for the phenomenon? That is, predatory lending was done to poor people, many of whom happen to be of minority races, NOT that the predatory lending was targeted at people of minority races, many of whom happen to be poor. That distinction is very important in determining appropriate policy responses. Meanwhile, the hosts seem more interested in flippant, inflammatory accusations. Of course, if they have evidence supporting the accusations of systemic and structural racism, then they should discuss it, not just toss out buzzwords. Currently, it seems "structural racism" is just "that which can be cynically inferred from any racial differences" (logic and good faith be damned).

Aug 1st
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ncooty

Great episode, though I wish the hostess would lose the vocal fry (and I wish Nick would reduce his reliance on buzzwords).

Aug 1st
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ncooty

It would've been more useful to have posted just the additional 12 minutes rather than the full interview. Alternatively, just replace the previous episode.

Jul 25th
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ncooty

Too bad they spent the time on notional accusations rather than details and refutations, culminating in Goldstein's quasi-guilt-by-association argument. Yet another episode of espousing tenets rather than making a solid case.

Jul 23rd
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ncooty

@26:49: It's stupid to say that the universe is made of matter, energy, and information. Information is a function of interpretation; it doesn't inhere in physical properties. (Economists are not particularly well educated.)

Jul 18th
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ncooty

Complexity might be a frequent by-product of progress, but it's not a good indicator, let alone part of the definition. I prefer efficiency and parsimony to complexity.

Jul 18th
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ncooty

All of that and no mention of "Mismeasuring Our Lives"? Lots of prior thought has been given to this topic. It'd be nice to hear it discussed rather than speaking as if the topic were newly discovered.

Jul 17th
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ncooty

I began listening in the hopes of hearing (at long last) an intelligent explanation of institutionalized racism in economics. Instead, I heard worthwhile criticisms of neo-liberalism followed by vague accusations of racism, including mindless phrases such as "racist outcomes" (fallacy of affirming the consequent). As always, the problems were posed in terms of poverty, and then race was invoked as a proxy for poverty, as if all black people are poor and all poor people are black. Then, rather than posing solutions to poverty, the guest (and obsequious host) asserted that the solutions must be explicitly directed at race (the proxy) rather than poverty (the problem). The guest even supported the idea of the Fed overtly targeting "black unemployment"! So she wants to fight institutionalized racism (which she failed to demonstrate) by institutionalizing racism! We've gone through the looking glass. I'm sure the host and guest are well intentioned, but this is just idiocy.

Jul 14th
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ncooty

The discussion at the end about immigration seemed incomplete. They seemed to argue in favor of more immigration, but said nothing about limits or criteria. So, are they advocating for completely open borders?

Jul 13th
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ncooty

@13:08-13:30: I really hate the excessive conflation of race and poverty. Not all poor people are black and not all black people are poor. The guest outright said that poverty is the causal factor, but that she simply preferred to discuss it in terms of race (I suspect because race is more inflammatory and Sanders needed to woo black voters from Biden at the time). The conflation isn't merely stupid and inflammatory; it's also counter-productive for public policy, because it focuses solutions on the wrong factors. Reprehensible.

Jul 13th
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ncooty

@30:50: That's an understandable but funny mispronunciation of the guest's name. In Turkish, "c" is pronounced like "j" and "-glu" is pronounced like "loo" (not exactly, but close).

Jul 10th
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ncooty

It takes a very small mind to speak as if there is only one problem in society, Nick. E.g., that if educational reform hasn't fixed everything, then education wasn't (and isn't) a problem. Some of us are able to consider multiple problems and solutions, and to understand the distinction between influences and causes. I hope you learn to do the same, Nick... perhaps through education.

Jul 8th
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ncooty

@31:16: Ugh. No, Nick, not only are the data discussed insufficient for causal interpretation, but they also do not indicate that people who previously made $15/ hr will get a 40% "bump" in pay. In aggregate, 40% of the total increase in paid wages may go to the people who earned >$15/ hr before the change, but that doesn't mean those people earn 40% more per capita. Good grief; this is an economics podcast?

Jul 7th
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