How monopolies feed plutocracy (with Matt Stoller)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 3 December 2019

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

In his new book ‘Goliath’, author Matt Stoller explains how the 2016 election heralded the return of authoritarianism and populism to American politics, due largely to concentrated financial power and rampant consumerism. This week, Matt joins Nick and Goldy for a conversation about creating a new democracy. Matt Stoller is the author of ‘Goliath: The Hundred-Year War Between Monopoly Power and Democracy’ and a fellow at the Open Markets Institute. He is a former policy advisor to the Senate Budget Committee, and also worked for a member of the Financial Services Committee in the U.S. House of Representatives during the financial crisis. Twitter: @matthewstoller Further reading: Goliath: https://www.simonandschuster.com/books/Goliath/Matt-Stoller/9781501183089 How Democrats Killed Their Populist Soul: https://www.theatlantic.com/politics/archive/2016/10/how-democrats-killed-their-populist-soul/504710/ Tech Companies Are Destroying Democracy and the Free Press: https://www.nytimes.com/2019/10/17/opinion/tech-monopoly-democracy-journalism.html Boeing’s travails show what’s wrong with modern capitalism: https://www.theguardian.com/commentisfree/2019/sep/11/boeing-capitalism-deregulation

Transcript

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0:00.0	Hey Pitchwork Gang, it's our one year anniversary and to celebrate we're giving away some of our awesome fun trickle-down economics coffee mugs.
0:11.0	So to get one, all you have to do is head to Instagram
0:14.6	and follow us at Pitch Fork Economics
0:17.0	and comment on the mug post to enter.
0:21.2	It's first come, first serve serve while supplies last.
0:24.0	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
0:36.4	concentrated wealth and power, monopoly power in particular.
0:40.4	It's not just the big markets where you see this problem. You also see it in pretty much every market so things like peanut butter or coffins or missiles
0:47.5	Indunitions or voting machines everywhere in our society. You've seen this concentration of power in our markets in the hands of the
0:54.6	few. This is sort of the physical manifestation of what you often talk about which is
0:58.1	the rise of Civic Ventures in downtown Seattle, this is Pitch Fork Economics,
1:10.0	with Nick Hanauer. Confessions of an American capitalist caught on tape.
1:20.0	I'm Nick Hanauer, founder of Civic Ventures.
1:23.0	I'm David Goldstein, Senior Fellow at Civic Ventures.
1:27.0	Today we get to talk to one of my favorite people our old friend Matt Stoller.
1:38.0	Matt as you know and I know you agree is just a really thoughtful incisive thinker and writer and he has this fantastic
1:46.2	new book out called Goliath the hundred-year war between monopoly power and democracy and
1:52.4	he has been hard at work for a bunch of years
1:56.3	at the forefront of this conversation
1:59.0	about monopoly power.
2:01.1	Monopoly power, market concentration, concentrated wealth,
2:05.0	concentrated power, and how it's damaging not just our economy,
	...

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