Pitchfork Economics with Nick Hanauer
We are living through a paradigm shift from trickle-down neoliberalism to middle-out economics — a new understanding of who gets what and why. Join zillionaire class-traitor Nick Hanauer and some of the world’s leading economic and political thinkers as they explore the latest thinking on how the economy actually works.
Episodes
September 23, 2025 • 41 mins
In the second episode of our Trade series, Nick and Goldy talk with author Nat Dyer about his book Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray. Dyer reveals how David Ricardo’s famous theory of comparative advantage—long touted as proof that free trade is always a win-win—was built on unrealistic assumptions and a false history.
They trace how this elegant but misleading model fueled globalization, mask...
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September 16, 2025 • 47 mins
In this kickoff to our special series on trade, Nick and Goldy unpack why trade policy isn’t just about tariffs and treaties—it’s about people, power, and priorities. For decades, the prevailing narrative has been that trade benefits everyone by lowering prices. But the real question is: who does it help, and who does it hurt? From the false promises of globalization to the overlooked damage in hollowed-out communities, this episod...
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September 9, 2025 • 39 mins
Political economist Mark Blyth joins Nick and Goldy to unpack the myths and realities of rising prices, from pandemic supply shocks and corporate profiteering to central-bank missteps and decades of bad economic theory. Drawing from his new book Inflation: A Guide for Users and Losers, Blyth explains why some narratives fall flat, why others reveal deeper truths about power and inequality, and what smarter, more equitable policies ...
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September 2, 2025 • 32 mins
What if the relentless drive to maximize personal gain isn't human nature, but just a flawed model we built? In this Back-to-Basics episode, behavioral economist Samuel Bowles helps us lay homo economicus—the myth of the perfectly rational, self-interested actor—six feet under. He shows how this caricature not only misrepresents human behavior, but underpins an economic system that ignores cooperation, community, and ethics. If we'...
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August 26, 2025 • 42 mins
The promise of the American Dream—work hard, play by the rules, and you’ll get ahead—is unraveling before our eyes.
In this Back-to-Basics episode, Christian H. Cooper and law professor Khiara Bridges join Nick and Goldy to posit whether economic mobility has ever truly existed, or if the system was rigged from the start. As wages stagnate, homeownership drifts out of reach, and inequality worsens, their conversation exposes how t...
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August 19, 2025 • 31 mins
When a few giants dominate the economy, democracy is the first to go. In this back-to-basics episode, author and anti-monopoly expert Matt Stoller unpacks how concentrated corporate power doesn’t just warp markets—it tilts the political playing field toward plutocracy. Drawing from his book Goliath, Stoller shows how corporate giants from banks to Big Tech leverage economic dominance into political control, fueling authoritarianism...
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We’ve all heard the story: In a fair market, workers are paid exactly what they’re worth. Economists even have a name for it—marginal productivity theory. It’s neat, simple…and completely wrong.
In this Back-to-Basics episode, economist Marshall Steinbaum and labor leader Saru Jayaraman dismantle the myth that the market fairly rewards labor. Steinbaum reveals how this theory has been weaponized to excuse wage stagnation, justify ...
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August 5, 2025 • 42 mins
If you’ve ever wondered why the economy feels stuck, even when it seems like there's a lot more money in the system, this episode will blow your mind.
Political economist Ann Pettifor joins Nick and Goldy to explain why money isn't flowing like it used to, and why that matters. Over the last century, the velocity of money (how quickly a dollar circulates) has plummeted. Today, each dollar in circulation generates up to 70% less ec...
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July 29, 2025 • 35 mins
For decades, orthodox economics has treated morality as irrelevant—as if economic decisions happen in a vacuum, separate from our values and social bonds. But that approach has failed spectacularly, giving cover to policies that divide and exploit us.
In this episode, Heather McGhee joins Nick and Paul to argue that morality must be central to how we think about the economy. They explore how racial division has been weaponized to ...
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Is economic growth just about money, trade, and GDP? Or is something deeper at play?
In this episode, economist W. Brian Arthur and physicist Cesar Hidalgo join Nick and Goldy to reveal the real drivers of rising prosperity: human knowledge, know‑how, and innovation. They challenge the old assumptions of growth and argue that innovation isn't a byproduct of a strong economy—it's a cause of economic growth. Once we understand that,...
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July 15, 2025 • 39 mins
Trickle-downers love to pretend that "Econ 101" is a convincing argument against policies like the minimum wage that invest in working Americans. But the truth is that mainstream economists are terrible at predicting how the economy will behave in the future…Is Econ 101 broken?
In this key foundational episode for the podcast, we dismantle the myths of orthodox economics and expose Econ 101 for what it really is: not a science, bu...
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Ever find yourself halfway through a Pitchfork Economics episode thinking, “Wait… what’s a monopsony?” You’re not alone.
In this listener-favorite episode, Nick and Goldy break down some of the most important—and most misunderstood—economic terms we use on the show. From ‘neoclassical’ and ‘neoliberal’ to ‘monopoly’, ‘monopsony,’ ‘stock buybacks,’ and ‘heterodox economics,’ we cut through the jargon so you can focus on what really...
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In 2014, Nick Hanauer sounded the alarm: if economic inequality kept growing, the pitchforks would come—for him, and for the rest of America’s wealthy elite. Then 2016 happened. Donald Trump was elected president on a wave of economic populism that correctly identified massive inequality as a problem, but which offered all the wrong solutions.
The inaugural episode of Pitchfork Economics lays the groundwork for everything that fol...
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June 24, 2025 • 39 mins
Conventional wisdom says immigration drives down wages and takes jobs from American workers. But what if that story is fueled by bad economics? Journalist Rogé Karma joins Nick and Goldy to challenge the Econ 101 logic that supercharges anti-immigrant rhetoric—and to explain what the data actually shows. Drawing on research from the U.S., Denmark, and beyond, Karma makes the case that immigrants don’t steal jobs—they grow the econo...
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June 17, 2025 • 45 mins
With inequality rising, housing out of reach, and young Americans falling further behind, some argue the American Dream is dead. But NYU professor Scott Galloway has a different take: America hasn’t fallen—it’s adrift. Originally recorded in late 2022, this episode features a candid conversation about what’s really hollowed out the middle class: generational wealth hoarding, runaway corporate consolidation, and a political system r...
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June 10, 2025 • 36 mins
As Republicans work at break-neck speed to push another round of massive tax cuts for the wealthy, we thought it would be a good idea to revisit our 2019 conversation with Bruce Bartlett, a Reagan policy adviser and key architect of the 1981 tax cuts. Bartlett explains how the trickle-down logic he once championed turned out to be economic snake oil, because tax breaks for the wealthy don’t grow the economy—they just grow inequalit...
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June 3, 2025 • 44 mins
The GOP’s new tax bill isn’t just a massive giveaway to the rich—it’s an all-out assault on SNAP, one of the most effective anti-poverty programs in the U.S. That’s because SNAP is more than just a program designed to end hunger. It’s also a powerful economic engine, stabilizing local economies as well as supporting retailers and farmers. Lily Roberts from the Center for American Progress joins us to break down how these proposed c...
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May 27, 2025 • 37 mins
What makes a company good—and who gets to decide? Economist Lenore Palladino joins Nick and Goldy to dismantle the myth of shareholder primacy and explain how our current system of corporate governance has warped innovation, deepened inequality, and undermined democracy. Drawing from her new book Good Company: Economic Policy after Shareholder Primacy, Palladino outlines a bold vision for how we can redesign the rules of the game—s...
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May 20, 2025 • 35 mins
With Trump’s second major tax bill clearing committee and heading to the House floor—packed, as promised, with massive giveaways to the ultra-wealthy—we’re revisiting our timely conversation with Samantha Jacoby of the Center on Budget and Policy Priorities. Originally recorded before Trump’s reelection, this episode breaks down the real impact of the tax bill that Trump signed into law back in 2017: trillions added to the deficit,...
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During COVID, corporations blamed supply chain shocks for rising prices while quietly raising prices higher than costs, thereby boosting their profits to record levels. We know they did this because they bragged about doing it on corporate earnings calls. Economist Hal Singer warns that Trump’s proposed tariffs could spark a repeat, giving corporations another “golden opportunity” to jack up prices under the guise of higher costs. ...
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