How taxpayers subsidize corporate profits (with Rana Foroohar and David Dayen)

How taxpayers subsidize corporate profits (with Rana Foroohar and David Dayen)

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies. David Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it. This episode was originally recorded and released in January 2020. Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us. Twitter: @RanaForoohar David Dayen is the executive editor of The American Prospect. He is the author of Monopolized: Life in the Age of Corporate Power and Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. Twitter: @ddayen Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/ Makers and Takers: https://www.ranaforoohar.com/makersandtakers How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

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Episoder(444)

Myths That Built Trickle-Down Economics: Productivity Doesn’t Trickle Down (with Preston Mui)

Myths That Built Trickle-Down Economics: Productivity Doesn’t Trickle Down (with Preston Mui)

Some of the world’s richest executives are selling AI as the engine of a yet-to-be realized “historic” productivity boom — while warning that it will also eliminate millions of jobs. But if workers ab...

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Myths That Built Trickle-Down Economics: Austerity Politics (with Clara Mattei)

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This week, we’re continuing our archive miniseries, Myths That Built Trickle-Down Economics, with the myth that austerity is responsible economic policy. We’re revisiting this conversation now becaus...

14 Jul 48min

Myths That Built Trickle-Down Economics: Zombie Economics (with Paul Krugman)

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This week, we’re continuing our archive miniseries, Myths That Built Trickle-Down Economics, with the myth that bad economic ideas die once the evidence proves them wrong. They don’t. They come back ...

7 Jul 44min

Myths That Built Trickle-Down Economics: Shareholder Value (with William Lazonick and Lenore Palladino)

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This week, we’re continuing our archive miniseries, Myths That Built Trickle-Down Economics, with the myth that corporations exist to maximize shareholder value. For decades, Americans were sold the ...

30 Jun 47min

Myths That Built Trickle-Down Economics: Regulations Kill Growth (with Robert Reich)

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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 lobby...

23 Jun 39min

AI Job Loss Is Real. The Catastrophe Is Optional (with Kathryn Edwards)

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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—...

16 Jun 38min

The Policy Choices That Suppressed American Wages (with Josh Bivens and Larry Mishel)

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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...

9 Jun 38min

Market Humanism: A New Operating System for the Economy (with Nick Hanauer)

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For the first time in Pitchfork Economics history, Nick Hanauer is on the other side of the mic. Goldy and Paul sit down with Nick to discuss Market Humanism: the emerging economic paradigm he and Er...

2 Jun 56min

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