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American Prestige

Bonus - Capitalism After Neoliberalism w/ Ilias Alami (Preview)

American Prestige

Daniel Bessner & Derek Davison

History, Politics, News

4.8705 Ratings

🗓️ 30 November 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

Subscribe now to listen to the full episode and get access to all of our Sunday bonuses. Danny and Derek speak to Ilias Alami, assistant professor of political economy at Cambridge, about the global shift from neoliberalism to new forms of state capitalism. They discuss the rebalancing of economic power toward East Asia; sovereign wealth funds, policy banks, and state-owned enterprises; and the role of states in industrial strategy, technology, and supply chains. They also touch on China, AI, and the overlap between economic rivalry and geopolitical confrontation. Check out the book Ilias co-authored, The Spectre of State Capitalism.

Transcript

Click on a timestamp to play from that location

0:00.0

There is so much money invested in these companies now.

0:05.0

There's so much money invested in this space where the only profit outlet is making a showerhead that talks and can sell me electro-ectile dysfunction medicine while I'm taking a shower. Like, you know, I mean, that's, that's it. Like, that's the model. Can we do advertisements on these things and somehow make money? Because they've given out, like, there's no, there's no profit. Like, there's no obvious vector for profiting off of this stuff. And it, that, that takes you in two directions. One is,

0:39.4

you know, Elias, as you talk about in your piece, the misallocation of resources. Like, you have

0:43.2

very smart people who could be working on how to bend AI to solve real world problems and make

0:50.4

life better for people, working instead on the talking shower head that sells ED pills to guys in the shower.

0:57.7

And at the same time,

1:00.3

you have this impetus to this drive to make AI so important

1:05.4

and to create this idea that AI is so fundamental

1:08.9

to the security of states moving forward.

1:11.7

Like whoever loses the AI race is just going to be washed away by the winners.

1:16.5

To tap into billions of dollars in government money, the same money that's been going to the

1:22.8

same five defense contractors for the last 20, 30 years to no avail.

1:27.1

We build aircraft carriers that can't launch a plane or jets that go up in the air

1:31.2

and choke the pilot of death or whatever.

1:33.7

Like, it's all, you know, on some level, being inshittified to use one of the Internet's favorite terms.

1:40.0

But now we have these companies like Palantir and other AI firms getting into that and trying

1:46.6

to draw on that pot of money because what else are you going to do?

1:49.9

Like, where's the money going to come from?

1:51.8

For sure. I completely agree with all that.

1:53.7

And I think, you know, in relation to what Danny said earlier, there is definitely a bubble

1:58.1

effect, no doubt about this. And this is partly related to,

2:03.7

yeah, I guess you could say questions of the state of the economy as a whole. And there's this

...

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