"We have to have public policy and the law regulated beforehand." Many in the tech industry say the threat of lawsuits will keep AI companies from taking big risks. People said the same thing about banks before the 2008 financial crisis. Banking regulation gives us a blueprint for managing systemic risk, and we should use it on AI now, explains ESP co-founder @chrishughes via @TheBeatWithAri.
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🚨California just took a major step toward tackling corporate power and the affordability crisis. Gov. Newsom signed a new law updating California’s antitrust laws for the first time in more than a century, following a multi-year campaign led in part by our affiliate, @ESP_Action, alongside a broad coalition of advocates, organized labor, and small businesses. California’s antitrust framework had remained largely unchanged since 1907, even as corporate power and the economy transformed around it. The new law gives state enforcers stronger tools to take on monopoly power and closes loopholes that have allowed dominant corporations to block competitors, squeeze small businesses, suppress wages, and consolidate their power. Amid an affordability crisis, as families struggle to afford groceries, housing, healthcare, and other everyday essentials, taking on concentrated corporate power is a critical part of making life more affordable. More competition means more choice for consumers, a fairer shot for small businesses and workers, and less power for dominant corporations to set the terms of our economy. This is a huge win for Californians and for everyone fighting for an economy that works for people, not just the most powerful corporations. Congratulations to everyone who helped make it happen.🎉 Read our full statement: economicsecurityproject.org/…
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The development of AI is moving fast, and we need our rules need to keep up. ESP co-founder @chrishughes stopped by @SquawkCNBC to talk about what bank regulation can teach us about keeping AI safe and holding AI companies accountable.
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1/ We're excited to welcome three new research fellows! Jacob Hacker, Gaby Aboulafia, and Devesh Kodnani bring deep expertise in health policy and the political economy of work. With our Ideas Team, they'll develop ideas + strategies to build an economy that works for all Americans.
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4/ @davekodnani is an MIT PhD candidate and economist focused on reducing income inequality and helping workers share in AI's gains. He's worked at the Joint Economic Committee, CAP, and Goldman Sachs. At ESP, he'll research social insurance and labor policy, with a focus on AI's impact on labor.
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5/5 Their expertise will deepen the rigor and reach of our work as we build ESP's multi-sector affordability platform. We're so excited to have them on the team!
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In her new book, “Gouged: The End of a Fair Price, and What That Means for Your Wallet”, @Groundwork Executive Director @owenslindsay1 pulls back the curtain on the tricks, traps, and high-tech tools corporations use to squeeze more money from consumers. From surveillance pricing and algorithmic price fixing to hidden fees, Owens shows how these deceptive tactics are reaching nearly every part of our household budgets and driving up costs – offering a guide for recognizing them and fighting back.
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Economic Security Project retweeted
Piece in the FT from Facebook co-founder Chris Hughes arguing that the bank supervision model is the right template for AI regulation ft.com/content/58be9a1b-345c…
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Economic Security Project retweeted
The US ranks 40th out of 41 comparably wealthy nations on accessible, affordable, quality childcare. But with the federal government stalled, some states are showing what's possible. Our new brief looks at what a national system should learn from them: rooseveltinstitute.org/publi…
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Including cash in the universal childcare playbook is how we start building a system that actually works for families – whether that’s a full-time daycare spot, a trusted relative, or a parent choosing to stay home. theatlantic.com/family/2026/…
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Economic Security Project retweeted
We’re not going to solve the childcare crisis by asking families to pay more or providers to stretch thin budgets even further. We need a public option that expands the supply of care and makes the system work better for families and workers. Our partners at @EconomicSecProj make the case ⬇️: economicsecurityproject.org/…
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To afford childcare, a single-parent household must spend 33% of their annual income on average. What’s worse, childcare costs are rising faster than inflation, pushing access to affordable care even further out of reach for families. A childcare public option — that is, new, government-funded, operated, and regulated childcare facilities that exist alongside existing programs and private providers — could help fix the U.S.’ broken childcare system.
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“When we at Economic Security Project look at affordability, we look in terms of what’s working and not working on the market side, and what’s working and not working on the income side.” ESP’s @mtkonczal joined @JulieMasonShow1 to break down why Americans are feeling worse about the economy and how the Trump administration's choices, like pulling back on antitrust enforcement and massive healthcare cuts, are contributing to the affordability crisis on both sides of the equation. 🎧Listen to the full episode: sxm-publish-clips.content-in…
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Last night, President Trump made a pledge we've heard before: cash for every American. The President has promised to cut checks for families struggling with the cost-of-living crisis many times in the past few years, (1/5)
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the Child Tax Credit and the Earned Income Tax Credit. These lifelines offer direct, targeted cash relief to Americans who need it, when they need it. Boosting and expanding these credits would do a lot more to help struggling families than another empty promise. (4/5)
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