oldie but goodie. Thanks @pitchforkeconomics.bsky.social and @nickhanauer.bsky.social cc: @joshbivens-econ.bsky.social
Who benefits when policymakers say the economy is becoming more “efficient”?
@nickhanauer.bsky.social explains why that word may be hiding a much bigger story about power, profits, and who gets left behind in the economy. ⬇️
bit.ly/MarketHumanism
Great news: the middle class is doing fine.
Its share of national wealth fell from 24% to 8%. The richest 3% now own 53%.
But TVs are cheaper, phones are faster, and both work just fine from the $100k-a-night hospital bed that bankrupts you.
Enjoy the rising tide.
https://nyti.ms/3Q7MRIo
Sing it from the rooftops.
The most damaging lies in American politics are often disguised as economic common sense.
@nickhanauer.bsky.social explains ⬇️
Put price fixing inside an algorithm, and apparently, you can call it innovation.
A new lawsuit alleges that major insurers used a shared algorithm to suppress out-of-network payments, leaving patients exposed to higher costs. ⬇️
The damage done by decades of trickle-down economics will not be fixed with ideas that fail to meet the moment.
This week, The Pitch explores a genuinely ambitious agenda for building an economy that works for working people.
Meet the Good Life Agenda. ⬇️
bit.ly/4uMmfvu
Video
Video
Does every industry have a centralized price-rigging scheme?
For years, CEOs have sold a story that a $15 minimum wage would kill jobs.
The Washington establishment bought this trickle-down lie, and workers paid the price.
But the evidence debunks that myth.
It's long past time to raise the minimum wage.
Elizabeth Warren
Minimum-wage increases were expected to kill jobs. The fact that they didn’t should make us rethink a lot of assumptions.
And this is not limited to health care.
We recently spoke with @groundwork.bsky.social Executive Director @lindsayowens.bsky.social about what happens when corporations use algorithms & massive data sets to test how much they can squeeze out of consumers.
Listen: bit.ly/4um4OAO
bit.ly
Listen to Same Cart, Different Price: When the Invisible Hand Becomes an Algorithm (with Lindsay Owens) from Pitchfork Economics with Nick Hanauer wherever you get your podcasts!
This week, we’re revisiting a conversation from our archive that feels newly relevant: wage stagnation was not an accident, and it is not irreversible.
@larrymishel.bsky.social and @joshbivens-econ.bsky.social of @epi.org explain how policy choices have weakened worker power.
🎧 ➡️ bit.ly/4okRhYT
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Corporate consolidation raises prices, lowers wages, reduces choices, and slows innovation.
Neoliberalism can't handle this because they have no theory of power. To them, this is all just the market sorting it out.
