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, it changes how we think about investing in people and shaping the economy.

Part of our Back‑to‑Basics summer series. Essential listening for anyone who believes that growth should empower people, not enrich the status quo.

This episode originally aired January 15, 2019.

W. Brian Arthur is an economist and complexity theorist, renowned for his work on technology and innovation. A longtime researcher at the Santa Fe Institute and former Stanford professor, he’s the author of The Nature of Technology, in which he argues that economic growth stems from evolving combinations of existing technologies.

Cesar Hidalgo is a physicist, professor at the Toulouse School of Economics, and Director at the Center for Collective Learning at Corvinus University of Budapest. He’s also the author of Why Information Grows, where he explores how knowledge and know-how shape economies, arguing that real prosperity comes from embedding insights in people and collaborative networks.

Social Media:

‪@cesifoti.bsky.social‬

Further reading: 

The Nature of Technology

Why Information Grows

Complexity Economics: A Different Framework for Economic Thought

Economic Complexity: From useless to keystone

Complexity Economics Shows Us Why Laissez-Faire Economics Always Fails

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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, but a simplistic story used to justify inequality and defend the status quo. Our guests Eric Beinhocker (The Origin of Wealth) and James Kwak (Economism) explain how outdated assumptions about markets, people, and growth have warped economic thinking—and why it’s time to write a new, better story about how the economy actually works.

Part of our Back-to-Basics summer series. Essential listening for anyone ready to move beyond trickle-down talking points and think middle-out.

This episode originally aired December 17, 2018.

Eric Beinhocker is the Executive Director of the Institute for New Economic Thinking at the University of Oxford. He’s the author of The Origin of Wealth, which applies complexity science to economics and challenges traditional market thinking.

James Kwak is a writer, law professor, and former entrepreneur. He co-authored 13 Bankers and wrote Economism: Bad Economics and the Rise of Inequality, a sharp critique of how Econ 101 ideology shapes public policy and deepens inequality.

Social Media:

@ericbeinhocker.bsky.social‬

Further reading: 

The Curse of Econ 101

The Origin of Wealth: The Radical Remaking of Economics and What It Means for Business and Society

Economism: Bad Economics and the Rise of Inequality

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Twitter: @PitchforkEcon, @NickHanauer, @civicaction

YouTube: @pitchforkeconomics

LinkedIn: Pitchfork Economics

Substack: ⁠The Pitch⁠

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 matters: understanding how the economy works—and who it works for.

Part of our Back-to-Basics summer series. Fun, clear, and essential episodes for new (or slightly confused) listeners.

Social Media: 

‪@nickhanauer.bsky.social‬

@goldyha.bsky.social‬

Website: http://pitchforkeconomics.com

Instagram: @pitchforkeconomics

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YouTube: @pitchforkeconomics

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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 followed. We revisit the urgent warning that launched the show, explore the deep myths that still shape our economy, and explain why telling a better story about how the economy works is the first step toward building one that works for everyone.

Part of our Back-to-Basics summer series—essential listening for anyone ready to ditch trickle-down and think middle-out.

Ganesh Sitaraman is a law professor at Vanderbilt University and a leading expert on constitutional law, economic inequality, and political economy. He’s the author of several influential books, including The Crisis of the Middle-Class Constitution, The Great Democracy, and Why Flying Is Miserable and How to Fix It. Sitaraman has served as a policy advisor to Senator Elizabeth Warren and co-founded the Vanderbilt Policy Accelerator.

Walter Scheidel is a historian at Stanford University whose work explores inequality, economic history, and the rise and fall of civilizations. He’s best known for his acclaimed book The Great Leveler, which argues that throughout history, extreme inequality has only been reduced through violent shocks like war, revolution, or plague.

This episode originally aired December 11, 2018.

Social Media:

‪@ganeshsitaraman.bsky.social‬

@walterscheidel.bsky.social‬

Further reading: 

The Pitchforks Are Coming… For Us Plutocrats by Nick Hanauer

Website: ⁠http://pitchforkeconomics.com⁠

Instagram: ⁠@pitchforkeconomics⁠

Threads: ⁠pitchforkeconomics⁠

Bluesky: ⁠@pitchforkeconomics.bsky.social⁠

Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠

YouTube: ⁠@pitchforkeconomics⁠

LinkedIn: ⁠Pitchfork Economics⁠ 

Substack: ⁠The Pitch⁠

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 economy. In a moment when political leaders are pushing mass deportations in the name of “economic populism,” this conversation reveals what’s really at stake. 

Rogé Karma is a staff writer at The Atlantic. He was previously the senior editor of The Ezra Klein Show at The New York Times. At The Atlantic, he covers economics and economic policy.

Social Media:

⁠@theatlantic.com⁠

⁠theatlantic⁠

⁠@TheAtlantic⁠

Further reading: 

⁠The Truth About Immigration & The American Worker⁠

⁠The Most Dramatic Shift in U.S. Public Opinion⁠

Website: ⁠http://pitchforkeconomics.com⁠

Instagram: ⁠@pitchforkeconomics⁠

Threads: ⁠pitchforkeconomics⁠

Bluesky: ⁠@pitchforkeconomics.bsky.social⁠

Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠

YouTube: ⁠@pitchforkeconomics⁠

LinkedIn: ⁠Pitchfork Economics⁠

Substack: ⁠The Pitch⁠

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 rigged for the rich. As billionaires push for yet another round of tax cuts and working families continue to struggle, Galloway’s message is more relevant than ever: America can still right the ship—but only if we change course.

Scott Galloway is a clinical professor of marketing at NYU’s Stern School of Business, a bestselling author, and a tech entrepreneur. He’s the host of the Prof G Show and co-host of Pivot. Galloway is a leading voice on the need to rein in corporate power and rebuild the middle class.

⁠This episode originally aired December 6, 2022. ⁠

Social Media:

⁠@profgalloway.com⁠

⁠@profgalloway⁠

Further reading: 

⁠Adrift: America in 100 Charts⁠

Website: ⁠http://pitchforkeconomics.com⁠

Instagram: ⁠@pitchforkeconomics⁠

Threads: ⁠pitchforkeconomics⁠

Bluesky: ⁠@pitchforkeconomics.bsky.social⁠

Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠

YouTube: ⁠@pitchforkeconomics⁠

LinkedIn: ⁠Pitchfork Economics⁠

Substack: ⁠The Pitch⁠

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 inequality.

Bruce Bartlett is an American historian and former economic adviser who helped draft the 1981 Reagan tax cuts. He served in senior roles under Presidents Reagan and George H.W. Bush, including at the Treasury Department and the Joint Economic Committee of Congress. Once a champion of supply-side economics, Bartlett is now a leading critic of trickle-down tax policy.

This episode originally aired January 29, 2019.

Social Media:

@bartlettb.bsky.social

@BruceBartlett

Further reading: 

Trump tax bill will add $2.4 trillion to the deficit and leave 10.9 million more uninsured, CBO says

The secret saga of Trump’s tax cuts

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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 cuts will deepen poverty, weaken economic resilience, and hurt millions—especially in the very communities whose lawmakers are pushing them.

Lily Roberts is the managing director for Inclusive Growth at American Progress. Her work focuses on raising wages, combating economic inequality linked to race, gender, and geography, and building wealth and stability for American families.

Social Media:

⁠@lilyroberts.bsky.social⁠

Further reading: 

⁠SNAP Cuts Are Likely To Harm More Than 27,000 Retailers Nationwide⁠

⁠SNAP Mythbusters Report⁠

Website: ⁠http://pitchforkeconomics.com⁠

Instagram: ⁠@pitchforkeconomics⁠

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Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠

YouTube: ⁠@pitchforkeconomics⁠

LinkedIn: ⁠Pitchfork Economics⁠

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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—so corporations serve workers, communities, and the public good, not just wealthy shareholders.

Lenore Palladino is an assistant professor of economics and public policy at the University of Massachusetts, Amherst, a senior fellow of the Roosevelt Institute, and a research associate at the Political Economy Research Institute.

Social Media:

@lenorepalladino.bsky.social

@lenorepalladino

Further reading: 

Good Company: Economic Policy after Shareholder Primacy

Website: http://pitchforkeconomics.com

Instagram: @pitchforkeconomics

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Bluesky: @pitchforkeconomics.bsky.social

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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, corporations and billionaires cashing in, and working families left behind.

Spoiler alert: the rich get richer, and everybody else gets screwed. As Congress considers doubling down on the same failed policies, this conversation couldn’t be more relevant.

Samantha Jacoby is the Deputy Director of Federal Tax Policy with the Center’s Federal Fiscal Policy division. Samantha focuses on U.S. federal income tax issues, including corporate and business taxation, individual income taxation, and climate tax policy.

⁠This episode originally aired March 19, 2024.⁠

Social Media:

⁠@centeronbudget.bsky.social⁠

⁠@jacsamoby⁠

⁠@CenterOnBudget⁠

Further reading: 

⁠Ten Questions on House Republicans’ Upcoming Tax Bill⁠

⁠The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises⁠

Website: ⁠http://pitchforkeconomics.com⁠

Instagram: ⁠@pitchforkeconomics⁠

Threads: ⁠pitchforkeconomics⁠

Bluesky: ⁠@pitchforkeconomics.bsky.social⁠

Twitter: ⁠@PitchforkEcon⁠, ⁠@NickHanauer⁠, ⁠@civicaction⁠

YouTube: ⁠@pitchforkeconomics⁠

LinkedIn: ⁠Pitchfork Economics⁠

Substack: ⁠The Pitch⁠