Did the Federal Reserve’s policies make inequality worse? (with Christopher Leonard)

Did the Federal Reserve’s policies make inequality worse? (with Christopher Leonard)

When the Federal Reserve makes money, where does it go? Turns out, the Fed’s hands are tied—it can’t do anything other than assume that the new money will trickle down into the hands of ordinary Americans through Wall Street’s coffers. And according to journalist Christopher Leonard, that’s put the United States’ economic stability at risk and accelerated income inequality. Christopher Leonard is a business reporter and executive director of the Watchdog Writers Group at the University of Missouri School of Journalism. He is the author of Kochland: The Secret History of the Koch Industries and Corporate Power in America. His new book is The Lords of Easy Money: How the Federal Reserve Broke the American Economy. Twitter: @CLeonardNews The Lords of Easy Money: https://bookshop.org/books/the-lords-of-easy-money-how-the-federal-reserve-broke-the-american-economy/9781982166632 How Nov. 2, 2010 Made the Rich So Much Richer: https://time.com/6112931/federal-reserve-wealth-inequality-recession/ The Fed’s Doomsday Prophet Has a Dire Warning About Where We’re Headed: https://www.politico.com/news/magazine/2021/12/28/inflation-interest-rates-thomas-hoenig-federal-reserve-526177 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...

21 Jul 0s

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

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

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)

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

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)

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

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)

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

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)

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—...

16 Jun 38min

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

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...

9 Jun 38min

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

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

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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