The Rise of the Billionaire Oligarchy (with Thom Hartmann)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 28 January 2025

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

With billionaires pouring unprecedented sums of money into politics, corporate interests shaping policy, and the revelation that Trump has appointed a record 13 billionaires to top administration roles in the wealthiest cabinet in American history, it's clear how much sway the ultra-wealthy hold over our democracy. So, we’re re-airing our 2021 conversation with Thom Hartmann, which offers timely insights into how the ultra-wealthy consolidate power, and how concentrated wealth undermines economic fairness and democratic governance. Thom Hartmann is a New York Times bestselling author and America’s #1 progressive talk show host for over a decade. This episode originally aired on February 2, 2021. Social Media: Bluesky @hartmannreport.com Twitter @Thom_Hartmann Further reading: The Hidden History of American Oligarchy Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch

Transcript

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0:00.0	Hey, pitchfork listeners, Goldie here. What with the fascist spectacle of Trump's second inauguration still fresh in our minds?
0:08.3	We thought it would be a good time, well, a painful time. Okay, a relevant time to re-air this interview that Nick and Paul had with Tom Hartman about his book, The Hidden History of American Oligarchy.
0:25.3	Is this really a democracy or is it just a government by the rich people for the rich people?
0:32.8	Listen in and find out.
0:35.6	The rising inequality and growing political instability that we see today are the direct result
0:42.1	of decades of bad economic theory.
0:45.2	The last five decades of trickle-down economics haven't worked.
0:48.9	But what's the alternative?
0:50.6	Middle-out economics is the answer.
0:52.8	Because the middle class is the source of growth, not its consequence.
0:57.0	That's right.
0:58.0	This is pitchfork economics with Nick Hanauer, a podcast about how to build the economy from the middle out.
1:12.0	Welcome to the show.
1:21.5	I'm Nick Henauer, founder of Civic Ventures.
1:24.6	I'm Paul Constant, and I'm a writer at Civic Ventures.
1:30.0	Today we're going to talk about oligarchies.
1:35.9	So an oligarch is a very rich business leader with a great deal of political influence.
1:42.4	And joining me today is the host of this podcast, Nick Hanauer, who is a very rich business leader with a great deal of political influence. How you
1:45.7	doing, Nick? I'm good. Thank you for pointing that out, Paul. It's very kind of you.
1:49.4	Sure, sure. Anytime, yeah. Well, as our resident oligarch, no, I think I'm really excited today to get to
1:54.9	talk to our guest, Tom Hartman. He's the number one progressive radio talk show host in the U.S. and is a best-selling
2:02.7	author, and he is a new cool bookout called The Hidden History of American Oligarchy,
	...

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