Bad Faith Episode 429 - Masters of the Universe (w/ Rob Larson)
Dec 5, 2024
Join economics professor Rob Larson, author of "Bit Tyrants" and "Mastering the Universe," as he delves into the alarming concentration of wealth in the U.S. He critiques the ruling class’s transformation of democracy into oligarchy and debates solutions like expropriation and worker control. Larson examines the implications of pandemic policies and the rising disconnect between the elite and working-class realities. The conversation even ventures into the quirky intersection of astrology with economics, offering a light-hearted twist on serious topics.
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Wealth Concentration
- The richest 1% of US households own about 35% of the national wealth, nearing Gilded Age levels.
- This wealth concentration grants them decision-making power over investments, economic policy, and media.
Stock Market vs. Reality
- Stock market success doesn't reflect the economic reality for most Americans.
- The majority of working-class wealth is tied to homeownership, not stocks.
Working-Class Voters
- Working-class voters often feel unheard and disregarded by the political system.
- Trump is seen as a change agent, even if misguided, appealing to those seeking alternatives.