Freakonomics Radio 356. America’s Hidden Duopoly
Nov 1, 2018
Michael Porter, a Harvard Business School professor known for his strategic insights, teams up with Catherine Gale, a former CEO and political reform advocate, to dissect the U.S. political duopoly. They explore how the Republican and Democratic parties have created a competitive landscape favoring their interests over voters. The duo applies business strategies to analyze this 'political industry', discussing electoral reforms like ranked choice voting and the role of media in reinforcing the duopoly. Can the system be disrupted? Their insights reveal both challenges and emerging strategies for change.
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Politics As A Self-Serving Duopoly
- Michael Porter argues the Republican and Democratic parties function like a duopoly industry that preserves itself.
- They have optimized rules and practices to benefit the parties and allied actors rather than broad voters.
From Dairy CEO To Political Reformer
- Catherine Gale recounts running her family business Gale Foods and hiring Michael Porter for strategy work.
- Her political frustration grew while serving as a major fundraiser and on a government board.
Large Industry, Low Customer Satisfaction
- Porter and Gale estimate the political industry generated roughly $16 billion in a recent two-year cycle.
- They show the industry grows revenue and jobs while public trust and satisfaction fall to historic lows.
