Optimist Economy

Dec 10

Listener Max did his grad thesis on pay transparency laws in Colorado and found that they narrowed the gender wage gap by 8 cents on the dollar. But some big-name economists reported that such laws can actually reduce wages. So what’s the deal? Kathryn’s answer during our October Q&A was so overlong and multipart that we jokingly called it, “The Max Show.” So here it is, as a mini-episode. Holiday shopping for the optimists in your life? Check out our shirts and hats at optimisteconomy.com

Nov 20

Your drunk uncle calls Social Security a Ponzi scheme. Your crypto-bro cousin thinks tariffs make China pay. Your grandfather blames working women for tanking wage growth. Economist Kathryn Edwards takes on a dozen hostile dinner-table challenges to help optimists everywhere prepare for dinner table debate. Robin plays every annoying relative you've ever argued with. Pass the [expletive] gravy. Ready to rep Optimist Economy with a shirt, hat or tote bag? Hit up our new website and merch store at optimisteconomy.com Take the listener survey first to get a code for a free Original Optimist sticker: https://tinyurl.com/op-econ-survey

Oct 21

Optimist Economy got its start almost exactly one year ago with a phone call that began, "Hear me out…" Thirty-two episodes later we ask, “What have we done?” Mostly we conditioned ourselves to keep our eye on the ball – the better U.S. economy and future that are possible – through a lot of very bad news days. In the background, we both moved. Kathryn kept a lot of pregnancy symptoms hidden. We incorporated a nonprofit. And somehow, we managed to drop a new episode every Tuesday. Thanks to all our listeners for being our spiritual sponsors on this journey. Take Our Listener Survey! https://tinyurl.com/op-econ-survey

Oct 14

Why is anyone’s health insurance tied to their job? It's because of a superintendent in Dallas, World War II wage freezes, a 1953 tax code quirk, and decades of inertia. This accident of history costs America $384 billion a year in tax breaks to corporations for providing coverage. And what do we get for that? A system that locks people in jobs they'd otherwise leave, suppresses wages of those who look "expensive to insure," and disadvantages small businesses that can't afford gold-level health plans. In a different historical timeline, President Harry S. Truman’s 1945 national health plan would've given us universal coverage, paid medical leave, and government-funded medical schools. But of course we’re not living in that timeline. Take Our Listener Survey! https://tinyurl.com/op-econ-survey

Oct 7

In the final Q&A of the season, economist Kathryn Edwards answers listener questions on recent universal basic income experiments, legislative budgeting tricks, and the value of more aggressive IRS auditing. She also explains what eradicating the minimum wage exemption might mean, particularly for disabled and incarcerated workers. We also discuss what people actually do for money when they stop job hunting. Fair warning: this one runs long and the keeping it f-bomb free resolution lasted about five minutes. Take Our Listener Survey! Help us plan for Season 2: https://tinyurl.com/op-econ-survey

Sep 30

Just how broken is Unemployment Insurance? Consider this: During every recession since the 1950s, the federal government has had to step in and prop it up. Of people looking for work, only half qualify for Unemployment Insurance. And just half of those actually receive benefits. That’s what you get from a system designed mostly for factory workers nearly a century ago and then left to the heedless care of states. Benefits vary wildly by state — $235 a week in some, over $800 in others. Most states have — understandably — taken the lesson that they don’t have to fix anything because Washington will step in if the economy gets really bad. This is a scrap-it-and-start-over situation. Many solutions would be better, including a system focused on re-employment that keeps workerbots attached to the labor market, helping businesses prevent layoffs during downturns, and making job-hunting less awful.

Sep 23

The economic pain that Americans experienced in 2022-23 was dubbed the “vibesession,” suggesting that negative public sentiment was out of sync with a healthy economy. But what we were truly experiencing was more like a “ghost recession.” As the Fed squeezed the economy by raising interest rates from zero to above 5% to get inflation under control, only the extraordinary circumstances of the post-pandemic economy kept unemployment low and the economy growing. But if we had a ghost recession, that also means that the nascent 2024 “ghost recovery” screeched to a halt with the radical changes to economic policy this year. Also in this episode: What it means that 911,000 fewer jobs were created from spring 2024-2025, and many metaphor try-outs. Revenge of the Vibecession | The New Yorker Birth-Death Model FAQ THE THIN END OF THE WEDGE definition in American English | Collins English Dictionary Economists’ models of inflation are letting them down [The Economist 2019]

Sep 16

You might have heard recently that a years-long poverty study “found” that giving $333 monthly to kids with poor parents didn’t make a difference. But here's why that’s the wrong takeaway: The "Baby's First Years" study wasn't designed to test cash payments. It is multi-year, ongoing scientific research into how poverty affects child development. Researchers found "selective impacts on preschoolers' brain activity with possibly different impacts across brain frequency bands" — which roughly translates to "this is incredibly complicated and we're still figuring it out," not "money is useless." And yet this rigorous research got reduced to a talking point amid an ongoing policy debate on child tax credits and what it means to lift kids out of poverty.