This week, we’re kicking off our archive miniseries, Myths That Built Trickle-Down Economics, with one of the most persistent myths in American politics: that regulation kills growth. Corporate lobbyists and trickle-down evangelists have spent decades branding any rule that limits big business as a “job killer.” But what if good regulation isn’t the enemy of prosperity, but one of the things that makes prosperity possible? Former U.S. Labor Secretary Robert Reich joined Nick and Paul back in 2019 to explain why we should stop calling these rules “regulations” and start calling them what they really are: protections. Because the economy always has rules. The real question is who they’re written to protect.
Browse Episodes
AI Job Loss Is Real. The Catastrophe Is Optional (with Kathryn Edwards)
AI doomsdayers want us to believe mass job loss would be unprecedented. But Kathryn Anne Edwards has a sharp reminder: In the first five weeks of the pandemic, the U.S. economy shed 22.5 million jobs—larger than any single AI job-loss estimate she has seen. The difference was policy. Unemployment support, direct cash to families, and a strong public response helped workers survive the shock and helped the labor market recover. This week, Nick and Paul talk with Edwards about what the pandemic recovery can teach us about AI, automation, unemployment, and the future of work. Why do AI debates so often treat workers as passive victims and government as irrelevant? What would a serious policy response to technological disruption look like? And why should we be skeptical of billionaires and tech leaders who insist that this time, unlike every other economic transition, they are uniquely important and special?
The Policy Choices That Suppressed American Wages (with Josh Bivens and Larry Mishel)
Why have wages for working Americans stagnated for decades—even as productivity, corporate profits, and the wealth of the people at the top continued to rise? The mainstream explanations are familiar: automation, globalization, education, or simply the unavoidable forces of the market—but wage stagnation was not inevitable. It was the result of policy choices. This week, we’re revisiting a conversation with economists Lawrence Mishel and Josh Bivens about the decisions that reshaped the American economy, weakened worker bargaining power, and made it harder for working people to claim their share of the prosperity they helped create. As we continue sharing more about Market Humanism—the idea that markets are human-built systems shaped by rules and power—this conversation feels especially relevant. The economy we have did not emerge naturally. It was built. And that means it can be rebuilt.