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Slate Business
What Next: The American Oligarch Class
Feb 14, 2024
Tim Murphy, senior reporter for Mother Jones, discusses the rise of the American oligarch class and its impact on society. He explores the allure and disgust towards Russian oligarchs, highlighting their opulent wealth. The podcast also delves into the wealth, influence, and exploitation of resources by tech billionaires like Bezos, Musk, and Zuckerberg. Overall, it examines the need to reconsider the narrative around oligarchy and the impacts of extreme wealth.
26:34
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Quick takeaways
- The podcast explores the historical origins and shifting perceptions of oligarchs, from ancient Greece to the planter class in pre-Civil War America and Latin American governments.
- The rise of an American oligarchy, particularly in the tech industry, signifies a new Gilded Age characterized by lack of social responsibility and an extractive economy that further widens economic inequality.
Deep dives
The Rise of Oligarchs
The podcast episode highlights the growing presence of oligarchs, which gained attention during Russia's invasion of Ukraine. The term 'oligarch' became increasingly common in political discourse, with the US announcing new sanctions against Russian oligarchs. The image of oligarchs as extravagant and corrupt individuals was reinforced through the seizure of their luxury yachts. This phenomenon was not limited to Russia, as the episode explores how American structures of wealth and power facilitated the rise of American oligarchy. The episode emphasizes the interconnectedness of Russian and American wealth and power.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode