Mostly Economics

In this episode, Dean Baker and renowned macroeconomist Claudia Sahm discuss the economic shocks from attacking Iran and the Federal Reserve's policy stance amid geopolitical tensions. Gain insights into how global events influence US inflation, energy markets, and monetary policy decisions. Claudia Sahm is the Chief Economist at New Century Advisors and a former Federal Reserve economist.

In the Season 1 finale, Dean Baker and Jared Bernstein answer listener-submitted questions on the biggest economic issues of the moment: the affordability crisis gripping American families, the surprising Democratic victories in off-year elections, and how the government shutdown is erasing critical economic data. From policy solutions to political implications, Dean and Jared tackle your questions with their wonderful blend of expertise and candor. Thank you for supporting our first season of Mostly Economics. We will return in 2026!

Nobel Prize-winning economist Joseph Stiglitz discusses his book "The Road to Freedom," explaining why real economic freedom means more than just keeping government small. Stiglitz breaks down how access to healthcare and education creates freedom, why drug companies profited from taxpayer-funded vaccines, and how pollution is really about property rights. Despite exploring serious inequality challenges, he shares an optimistic vision for building an economy that works for everyone.

Dean talks with Sasha Abramsky, freelance writer for The Nation and author of the forthcoming book "American Carnage," which examines how the Trump administration and Elon Musk's DOGE systematically targeted federal workers in 2025. Abramsky shares stories from CDC employees, IRS workers, and National Park staff who faced mass layoffs through automated quota systems rather than performance reviews, revealing the human cost of dismantling vital government services and the impact on public health, environmental protection, and consumer safety.

This week Dean speaks to Milo Vassallo, Executive Director of the Media and Democracy Project, about wresting back the free press from media oligarchs. As corporate consolidation has gutted local newsrooms and created vast news deserts, communities can rebuild civic journalism from the ground up.

This week Dean speaks to Kim Weeden, Professor of Sociology at Cornell University and Director of the Center for the Study of Inequality, about why America's wage gap keeps growing. While protections for minimum wage workers have weakened over the past 40 years, the rules that protect high earners have only gotten stronger.

Health policy expert Sarah Lueck of the Center on Budget and Policy Priorities joins Dean Baker to discuss the Affordable Care Act's future amid a prolonged government shutdown. They unpack how expiring premium tax credits could raise costs for millions, the ACA's major achievements, and why congressional action is urgently needed.

Today on Mostly Economics, Ha-Joon Chang, Professor at the Department of Economics at SOAS University of London and Senior Research Fellow at CEPR, critiques the IMF and World Bank's Washington Consensus model. He explains how neoclassical economics locks poor countries into existing capabilities. Chang contrasts South Korea's transformation through state-directed industrial policy with Mexico's stagnation under NAFTA. He exposes how the World Bank manipulated data to falsely claim economic progress. Chang also reveals how patent monopolies contradicted free market principles during COVID-19, preventing lifesaving technology sharing.

Dean Baker speaks with Suresh Naidu, Professor of Economics at Columbia University, about unions' role in reducing inequality, how employer wage-setting power shapes labor markets, sectoral bargaining experiments in California and Minnesota, the problems with H-1B visa programs, and why Democrats shifted away from labor policy toward tax-and-transfer approaches in recent decades.

Dean Baker speaks with Heather Boushey, former Council of Economic Advisers member and current Professor of Practice at UPenn's Climate Center for Energy Policy, about the Biden administration's economic legacy. They discuss the historic manufacturing boom, infrastructure investments in left-behind communities, why economic forecasting models failed, and record wage gains for low-income workers.

Economist Juliet Schor discusses her groundbreaking four-day workweek research, revealing how companies maintain productivity while dramatically improving worker well-being. From 90% retention rates to reduced burnout, Schor explains why this workplace revolution is gaining momentum post-pandemic and how AI could accelerate adoption of shorter work weeks.

Dean Baker interviews Laura Dresser, Associate Director of Wisconsin's High Road Strategy Center, about the power of state and local policy to improve working people's lives. They discuss how Wisconsin's anti-union legislation devastated labor organizing, successful state-level initiatives on minimum wage and community college programs, and the potential for progressive policies on childcare, transportation, and education when federal action is blocked.

Climate scientist Michael Mann and vaccine researcher Peter Hotez discuss their book "Science Under Siege," examining how plutocrats, petrostates, press, pros, and propagandists undermine scientific truth. They reveal how wealthy individuals fund anti-science campaigns, authoritarian regimes spread climate denial, and mainstream media enables false equivalency between facts and conspiracy theories. The conversation covers the deadly consequences of vaccine misinformation, the Serengeti strategy of targeting individual scientists, and why 200,000 Americans died needlessly from COVID. Mann and Hotez argue this assault on expertise threatens democracy itself, while offering solutions for scientists to become more visible public advocates for truth. -- Follow Dean Baker on: X: https://x.com/DeanBaker13 Bluesky: https://bsky.app/profile/deanbaker13.bsky.social Follow Center for Economic and Policy Research X: https://x.com/@ceprdc IG: https://www.instagram.com/ceprdc/ FB: https://www.facebook.com/CEPRDC/ Bluesky: https://bsky.app/profile/ceprdc.bsky.social

Dean Baker and economist Robert Pollin discuss Trump's chaotic first weeks - from firing Fed Governor Lisa Cook over mortgage paperwork to shutting down an 80% complete wind farm. They examine how erratic tariff policies hurt workers while creating business uncertainty, and why attacking clean energy gives China a competitive advantage. The conversation reveals a troubling pattern of prioritizing political theater over sound economic policy. --- Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Dean Baker speaks with historian Dr. William P. Jones about his book "The March on Washington: Jobs, Freedom, and the Forgotten History of the Civil Rights Movement." They explore how the famous march began as a protest for jobs and economic justice, the crucial role of labor unions in organizing the event, and why the economic demands—including full employment and a living minimum wage—have been largely erased from popular memory. The conversation also examines how these economic justice goals remain unfulfilled today, from the decline of union power to recent spikes in Black unemployment.

Dean Baker interviews Katie Wilson, Executive Director of the Transit Riders Union and Seattle mayoral candidate, about her "News Notes" proposal—a voucher system that would give residents around $100 in public credits to support local media outlets of their choice. Wilson explains how this democratic funding model, similar to Seattle's existing Democracy Vouchers for political campaigns, would provide an alternative to billionaire-funded journalism by allowing citizens rather than government to directly allocate public media support. The discussion covers the mechanics of implementation, comparisons to existing programs, and the broader goal of strengthening local journalism through community-driven funding.Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

In today's episode of Mostly Economics, we speak to Doug Harris, Professor and Chair of the Economics Department at Tulane University, about the recently launched "State of the Nation" project — and why Trump's war on data could undermine its existence in the future. Visit the State of the Nation Project: https://stateofnation.org/ Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

AFL-CIO Chief Economist Darrick Hamilton explains how decades of failed economic policies created the conditions for Trump's rise—but also reveals why there's reason for hope. The surprisingly effective 2020 economic response wasn't an accident; it was the result of years of grassroots organizing by movements like Black Lives Matter and Occupy Wall Street. Hamilton breaks down how social movements forced politicians to abandon austerity economics during the pandemic, and what it will take to make those changes permanent in the face of Trump's renewed politics of division. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Why do millions of working Americans still lack health insurance? Dean Baker sits down with economist John Schmitt to break down the massive gaps in U.S. healthcare coverage and what it means for workers across the country. They look at which workers are getting left behind, how the Affordable Care Act changed the game, and why low-income workers are still struggling to get coverage. Plus, they explore the maze that is our current healthcare system and discuss what real reform might look like. If you've ever wondered why healthcare coverage is such a mess in America – or if you're dealing with insurance headaches yourself – don't miss this conversation. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Why do communities of color still face barriers to homeownership decades after civil rights legislation? In this eye-opening episode of Mostly Economics, host Dean Baker talks with Jacob Faber, Associate Professor of Sociology and Public Service at NYU's Wagner School and co-founder of the Redlining Lab, about the deep roots of housing discrimination in America. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

In this episode, host Dean Baker speaks with CEPR co-director Eileen Appelbaum to unpack the dark world of private equity. They explore how PE firms use debt-heavy buyouts, exploit tax loopholes like carried interest, and profit from management fees while acquired companies bear the financial burden. The discussion covers PE's impact on retirement, inadequate regulatory oversight, and growing ethical dilemmas as private equity increasingly targets healthcare. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Dean Baker breaks down Medicare Advantage with experts Emma Curchin and Brandon Novick. They expose the marketing tricks, bureaucratic roadblocks, and hidden costs that trap beneficiaries. Essential viewing for anyone navigating Medicare or advocating for healthcare reform. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Dean Baker sits down with renowned economist Richard Freeman to explore the multifaceted role of unions-not only in securing higher wages and better working conditions, but also in empowering workers with a collective voice and boosting workplace productivity. The conversation also delves into the recent wave of unionization among graduate students and post-docs, highlighting the broader implications for the academic workforce. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

In this conversation, Dean Baker and Nick Bloom discuss the evolution and current state of remote work, particularly in the aftermath of the pandemic. They explore the significant increase in remote work, the productivity implications, and the hybrid work model's benefits and challenges. www.mostlyeconomics.com Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Dean Baker speaks with renowned economist Isabella Weber about her influential concept of "sellers' inflation," which examines how firms with market power drive price increases during supply bottlenecks. Weber, an Associate Professor at UMass Amherst, shares her expertise on U.S.-China trade tensions and reflects on the evolution of academic responses to her once-controversial price control proposals. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Social Security has lifted millions of seniors out of poverty, but it's under attack. In our latest episode, Dean Baker sits down with Nancy Altman, who's spent 50 years defending this critical program. Nancy cuts through the political noise to reveal what's really happening: how interference in the Social Security Administration puts our data at risk, why the system is actually incredibly efficient, and how fraud claims are being weaponized to undermine public trust. This isn't just about retirees. Social Security affects every working American, and the threats Nancy and Dean discuss could impact your future benefits. They make the case for why we need to strengthen - not weaken - this essential safety net. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

In this episode, we are talking about the tipped minimum wage with Dr. Sylvia Allegretto, CEPR Senior Economist. unpacks the little-known but widespread practice of paying tipped workers a sub-minimum wage—just $2.13 an hour at the federal level since 1991. Dean and Sylvia discuss how this "tip credit" system effectively shifts much of the wage burden from employers to customers, enables wage theft, and leaves millions of workers vulnerable, while highlighting policy solutions and the need for reform. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Today's episode looks at the inefficiencies and inequities of the current U.S. healthcare system, highlighting the administrative waste and barriers to care created by private insurance, and explore how a single-payer system could deliver universal coverage, reduce costs, and improve health outcomes. The conversation also addresses the political and economic pathways to achieving Medicare for All, including the potential for major savings on prescription drugs and the feasibility of financing universal healthcare through a reallocation of current spending and targeted tax reforms.

Dean Baker talks with healthcare journalist Jonathan Cohn about the historic assault on Medicaid at the heart of the 2025 budget bill. The proposed legislation would slash hundreds of billions in federal funding for essential healthcare programs. They discuss how "work requirements" create bureaucratic traps rather than jobs, while revealing the cynical strategy to delay the harshest cuts until 2029. The Affordable Care Act has transformed healthcare access, giving workers newfound freedom and security. Now, the ACA is also on the chopping block. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

The untold story behind efforts to make life-saving HIV/AIDS drugs accessible across Africa. Love recounts his pivotal role in breaking down patent barriers and negotiating steep price reductions—transforming treatment from an unaffordable $10,000–$15,000 a year to just a few hundred dollars—thereby saving millions of lives and shaping global health policy. The conversation also explores ongoing challenges in drug pricing, regulatory barriers, and innovative alternatives to the current pharmaceutical patent system. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

An in-depth discussion on the economic response to the COVID-19 pandemic, the impact of the American Rescue Plan, and the broader successes and challenges of the Biden administration's economic policies. Together, they analyze the trade-offs between inflation and full employment, the underappreciated gains for low-wage workers, and the resurgence of U.S. manufacturing through targeted industrial policy. The conversation also explores the complexities of economic messaging, the realities of supply chain shocks, and the ongoing debate over tariffs and industrial strategy. Mentioned during this episode:Dean Baker and Jared Bernstein Wall Street Journal Article Recorded: March 26, 2025 Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social

Dean Baker sits down with Stephanie Kelton to unpack the core ideas of Modern Monetary Theory (MMT). Kelton dispels common misconceptions about government spending, emphasizing that the real constraint on public programs is not money, but the availability of real resources like skilled workers and infrastructure. The conversation explores the mechanics of government finance, the implications of deficits, and current policy debates, including the risks posed by tax enforcement cuts and the impact of rising interest payments. Together, Baker and Kelton offer a fresh perspective on federal budgeting, inequality, and the economic challenges ahead. Follow Dean Baker on: X / @DeanBaker13 Bluesky / @deanbaker13.bsky.social Follow Center for Economic and Policy Research on: X | IG | FB / @ceprdc Bluesky / @ceprdc.bsky.social