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Capitalisn't

How Lobbying Led to Crony Capitalism, with Brody Mullins

Capitalisn't

University of Chicago Podcast Network

Stigler Center, Chicago Booth, Socialism, Antitrust, University Of Chicago Podcast Network, Growth, 087667, Policy, Monopoly, Professors, Distortion, Research, Competition, Capitalisnt, Inequality, Promarket, Politics, Policymaking, Special Interest, Economics, Efficiency, Regulations, Chicago, Business, Markets, University Of Chicago, Kate Waldock, Capitalism, Friction, Bethany Mclean, Government, Macroeconomics, News, Education, Waldock, Georgetown, Microeconomics, Luigi Zingales, Zingales, Finance, Ucpn

4.5584 Ratings

🗓️ 24 October 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

As the United States elections draw near, everyone is wondering who will take control of Washington next. In this week’s Capitalisn’t episode, Pulitzer Prize-winning reporter Brody Mullins reveals how the real winner will be neither Democrats nor Republicans. Rather, it will be the lobbyists. Mullins is the co-author (along with his brother Luke, also an investigative reporter) of The Wolves of K Street: The Secret History of How Big Money Took Over Big Government. Brody joins Bethany and Luigi to discuss how corporations ranging from Genentech to Google participate in the invisible but massively influential lobbying industry to bend government policy toward their favor. Together, the three trace the roots and evolution of political lobbying from the 1970s to now and explore how it penetrates and leverages other spheres of society to abet its operations. How are academia and the media complicit in this ecosystem of influence operations? How has lobbying adapted to the changing attitudes of Americans towards Big Business? How might it change under either a Harris or Trump administration and beyond?

Transcript

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0:00.0

From 2007 to now, there are roughly the same number of registered lobbyists.

0:04.6

They're 11 or 12,000 back then, and there's 12 or 13,000 registered lobbyists now.

0:08.8

And that's in part because people are not registering, but it also is that lobbying has changed.

0:16.0

I'm Bethany McLean.

0:17.7

Did you ever have a moment of doubt about capitalism and whether greed's a good idea?

0:22.9

And I'm Luigi Zengalis.

0:24.2

We have socialism for the very rich, rugged individualism for the poor.

0:29.8

And this is Capital Isn't, a podcast about what is working in capitalism.

0:33.7

First of all, tell me, is there some society you know that doesn't run on greed?

0:38.2

And most importantly, what isn't?

0:40.2

We ought to do better by the people that get left behind.

0:43.1

I don't think we shouldn't kill the capital system in the process.

0:46.6

As the elections approach, everybody's thinking about who is going to govern us next January.

0:52.5

We, at Capitalism, already know the answer. No, we're not psychic,

0:57.0

but we do know that corporate lobbyists will take over. Democrats or Republicans, the ultimate

1:02.6

decision are not made by the elected representative, but by the enormous influence machine

1:07.5

that operates in Washington. To explain how Washington really works, to guide us in understanding what has become a gigantic

1:15.0

and incredibly influential, although all too often invisible industry, we decided to ask

1:21.7

Brody Mullins, an investigative reporter, a Pulitzer Prize winner, and the co-author,

1:27.0

with his brother, and as an aside,

1:29.2

writing a book with one sibling, oh my, of the Wolves of K Street, the secret history of how

1:34.5

big money took over big government. The Mullins started the analysis in the 1970s when Washington

...

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