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Pitchfork Economics with Nick Hanauer

Back to Basics Series: How Monopolies Feed Plutocracy (with Matt Stoller)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.81.5K Ratings

🗓️ 19 August 2025

⏱️ 32 minutes

🧾️ Download transcript

Summary

When a few giants dominate the economy, democracy is the first to go. In this back-to-basics episode, author and anti-monopoly expert Matt Stoller unpacks how concentrated corporate power doesn’t just warp markets—it tilts the political playing field toward plutocracy. Drawing from his book Goliath, Stoller shows how corporate giants from banks to Big Tech leverage economic dominance into political control, fueling authoritarianism and undermining citizen power. This is more than an economics lesson—it’s a warning, and one that we must hear, now more than ever. Political power isn’t confined to ballots and policy. It lives in company boardrooms and consolidated industries. Understanding how monopolies operate is the first step toward reclaiming American democracy. Matt Stoller is the Director of Research at the American Economic Liberties Project, where he focuses on monopoly power and antitrust policy. He is co-host of the Organized Money Podcast, and the author of Goliath: The 100-Year War Between Monopoly Power and Democracy, a history of how concentrated corporate power undermines democratic governance. This episode originally aired December 3, 2019. Social Media: @matthewstoller ‪@matthewstoller.bsky.social‬ Further reading:  Goliath: The 100-Year War Between Monopoly Power and Democracy Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social TikTok: @pitchfork_econ 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. We've been doing this podcast for a long time now,

0:05.6

so we thought we'd take a little break this summer. But we don't want you to miss us too much,

0:10.5

so we thought we'd revisit some of the most essential episodes from early in our history

0:15.5

with a back-to-basic summer series. And assuming podcasts like this are still legal by the end of the summer,

0:23.0

we hope you enjoy this conversation with Matt Stoller about how monopolies feed plutocracy.

0:32.2

You have been at the forefront of identifying and pushing back on one of the most corrosive elements of the modern neoliberal economy, which is concentrated wealth and power, monopoly power in particular.

0:46.8

It's not just the big markets where you see this problem.

0:49.3

You also see it in pretty much every market.

0:51.2

So things like peanut butter or coffins or missiles and

0:54.2

munitions or voting machines everywhere in our society, you've seen this concentration

0:58.7

of power in our markets in the hands of the few. This is sort of the physical manifestation

1:02.7

of what you often talk about, which is the rise of plutocracy.

1:17.4

From the offices of civic ventures in downtown Seattle, this is pitchfork economics with Nick Hanauer.

1:20.6

Confessions of an American capitalist caught on tape.

1:29.4

I'm Nick Hanauer, founder of Civic Ventures.

1:33.9

I'm David Goldstein, senior fellow at Civic Ventures.

1:44.1

Today we get to talk to one of my favorite people, our old friend Matt Stoller. Matt, as you know, and I know you agree,

1:46.7

is just a really thoughtful, incisive thinker and writer. And he has this fantastic new book

1:53.2

out called Goliath, the 100-year War between Monopoly, power, and democracy. And he has been

1:59.6

hard at work for a bunch of years at the forefront of

2:03.8

this conversation about monopoly power. Monopoly power, market concentration, concentrated

2:10.7

wealth, concentrated power, and how it's damaging not just our economy, but it threatens our very democracy. That's right. And Matt is a

...

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