The Congressional Budget Office, the institution that furnishes cost-benefit analyses for federal legislation under consideration by Congress, has a really hard job. But some of the assumptions they rely on to predict economic consequences are just plain weird. Economist Mark Paul leads us through the strangest practices at the CBO, including their (untrue) claim that public investment is only half as productive as private investment and the complete lack of peer-reviewing of reports that can signal the death knell for a bill.  

Mark Paul is an Economist at the New College of Florida and a Fellow at the Berggruen Institute.

Twitter: @MarkVinPaul

Further reading: 
The Pitch: Economic Update for February 10th, 2022 https://civicventures.substack.com/p/bidens-big-union-push 

Mark’s tweet about the CBO:  https://twitter.com/MarkVinPaul/status/1491165138288005121  

The Macroeconomic and Budgetary Effects of Federal Investment https://www.cbo.gov/publication/51628

CBO issues score on how much Build Back Better would cost if programs were permanent https://www.cnn.com/2021/12/10/politics/build-back-better-cbo-score/index.html 

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
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Nick’s twitter: @NickHanauer

Congress looks to the CBO for economic expertise. Is that a mistake? (with Mark Paul)

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.

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Even though the American labor market is currently stronger than it has been in decades, earlier this year Big Tech companies were laying off workers at an alarming pace. Economists struggled to understand why some 25,000 tech workers were losing their jobs, even as the media panicked about whether those layoffs were a warning sign of an oncoming recession. University of Washington Professor Jeff Shulman joins us to uncover the real reasons behind Big Tech’s layoffs, and to explain their implications for workers. 

Jeffrey Shulman is a professor at the Foster School of Business at the University of Washington. He’s also a podcaster and filmmaker with a diverse range of expertise in pricing, entrepreneurial marketing, and product management. As a professor, he is known for his innovative research and teaching methods that delve into the intricacies of economic principles and their practical applications in the business world. Recently, Shulman has gained recognition for his insightful commentary on the highly publicized layoffs in the tech industry.  

More from Professor Shulman:
Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that?
Why widespread tech layoffs keep happening despite a strong U.S. economy
How To Succeed In Product Management on Apple Podcasts
How To Succeed In Product Management on Spotify
Seattle Growth Podcast on Apple Podcasts
On The Brink: A Film via PBS

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer

Decoding the Tech Layoff Panic of 2024 (with Jeffrey Shulman)

Journalist Nick Romeo joins us to discuss his new book "The Alternative: How to Build a Just Economy." Romeo argues that the conventional economic wisdom has fostered political and economic instability, resulting in widening inequality, environmental degradation, and the exploitation of workers. He also highlights innovative solutions and success stories—including worker cooperatives, public-option marketplaces, and job guarantee programs— that paint a picture of how we can design systems in a market economy that truly work for everyone.

Nick Romeo is a journalist, critic, and essayist who has spent years covering policy and ideas for The New Yorker magazine. He also teaches at the Graduate School of Journalism at UC Berkeley.

The Alternative: How to Build a Just Economy

The New Yorker: Nick Romeo

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer

How to Build a Just Economy (with Nick Romeo)

This week, Nick and Goldy sit down with ethics professor Ingrid Robeyns to discuss her groundbreaking new book, Limitarianism: The Case Against Extreme Wealth. Robeyns challenges the idea that it’s acceptable to allow extreme wealth concentration and inequality to persist, advocating instead for a hard cap on wealth accumulation. Nick and Goldy navigate the moral and practical implications of wealth limits on society, democracy, and ecological sustainability.

Ingrid Robeyns is a distinguished scholar and Professor of Ethics of Institutions at Utrecht University, and author of the new book, Limitarianism: The Case Against Extreme Wealth. Professor Robeyns’ research in the field of Ethics and Political Philosophy focuses on issues of justice, inequality, well-being, and the ethical dimensions of societal structures and policies.

Twitter: @IngridRobeyns

Limitarianism: The Case Against Extreme Wealth

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer

The Case Against Extreme Wealth (with Ingrid Robeyns)

This special episode of Pitchfork Economics features a live conversation from the "Redefining the Center: How to Make Middle-Out Economics the New Mainstream" conference hosted by Democracy Journal in Washington, D.C. Heather Boushey, a member of the White House Council of Economic Advisors, joins Nick for a wide-ranging discussion moderated by Michael Tomasky, editor of Democracy Journal. Hanauer & Boushey explore the policy initiatives being pursued by the Biden administration that prioritize working families and promote economic growth from the middle out and discuss the crucial role of the middle out as a paradigm shift in how people think about economic cause and effect. This dynamic and thought-provoking discussion was a great start to an outstanding conference.

Heather Boushey is an economist and policy advisor who serves as a key member of President Biden's White House Council of Economic Advisors and Chief Economist for the President’s Invest in America Cabinet. Prior to joining the Biden administration, she was the President and CEO of the Washington Center for Equitable Growth, a think tank focused on advancing evidence-based policies to reduce inequality. In her role in the White House, she plays a crucial role in shaping economic policy and advising the President on issues related to labor, income inequality, and economic opportunity.

Twitter: @hboushey46

Further reading: The Middle-Out Moment Is Here

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer

LIVE from DC: Redefining the Center (with Heather Boushey)

In the shadows of corporate greed and exploitation lies a sinister crime that is silently perpetrated, leaving countless victims in its wake—a crime that affects millions of hardworking Americans every year and sucks billions out of our economy —Wage Theft. No industry is immune to this insidious crime, from restaurant workers to construction laborers. On this episode of Pitchfork Economics, we are joined by Terri Gerstein, Director of the Labor Initiative at NYU Robert F. Wagner Graduate School of Public Service, to unpack the chilling truth behind these workplace crimes, learn who the perpetrators are, and uncover how they get away with it. Most importantly, what can be done to stop them?

Terri Gerstein is the Director of the NYU Wagner Labor Initiative, at NYU’s Robert F. Wagner Graduate School of Public Service, which explores and helps activate the often-untapped potential of government in safeguarding and advancing workers' rights. Previously, Terri enforced labor laws in New York for 17 years, including as Labor Bureau Chief in the New York State Attorney General’s Office.

Crime music bed by Power Music Factory

News clips from CBS News, CBS Miami, and CBS Philadelphia

﻿Twitter: @TerriGerstein 

NYU Wagner Labor Initiative

Further reading: 
Prosecute Bad Bosses: More district attorneys are cracking down on abusive employers. It's about time

Report mentioned in the episode from the National Coalition Against Insurance Fraud: The Costly Crime and Impact of Workers’ Comp Premium Fraud

The Role of State Attorneys General in Protecting Workers’ Rights

Report: How district attorneys and state attorneys general are fighting workplace abuses

More states should follow new Colorado policy on wage theft

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer

Congress looks to the CBO for economic expertise. Is that a mistake? (with Mark Paul)

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