Brooke Harrington - Trump’s “Broligarchy” of Tech Billionaires | The Daily Show

Summary

In this thought-provoking discussion, the speakers explore the rise of oligarchs in modern America, comparing them to Russian oligarchs and examining their influence on politics. They discuss how wealthy individuals like Elon Musk wield political power, transcending traditional constraints of social norms and regulations. The conversation also touches on the challenges of labor organizing, the power dynamics between capital and labor, and the potential dangers of unchecked wealth accumulation. Ultimately, the discussion highlights the need for societal changes to address the growing inequality and the impact of crony capitalism.

Takeaways

• 😀 The rise of American oligarchs is marked by a lack of clear boundaries between industry and politics, unlike the more traditional Russian model.
• 😀 In the Russian oligarch system, Putin maintained a strict line, allowing oligarchs to get rich but preventing them from engaging in politics or challenging his rule.
• 😀 Trump’s approach to oligarchs is different; he’s encouraged them to engage politically and bring business to the U.S., without setting clear boundaries.
• 😀 The new American oligarchs, or 'boligarchs,' aim for privileges without obligations, particularly in terms of philanthropy or social responsibility.
• 😀 The concept of the 'Great Man' theory has resurfaced, especially in the rhetoric of figures like Elon Musk, who are positioned as alpha males with god-like authority.
• 😀 The Gilded Age parallels are clear, as today's oligarchs are accumulating wealth without the same social constraints that older elites, like the Rockefellers, faced.
• 😀 Wealthy figures today are less likely to hide their wealth behind charitable acts and public service, contrasting with the Gilded Age, where philanthropy was expected to maintain a decent reputation.
• 😀 The division between ‘good’ and ‘bad’ billionaires is problematic, as both groups contribute to the same corrupt system where wealth has disproportionate political influence.
• 😀 The modern oligarchy’s power is unprecedented, and there are growing concerns about the erosion of democratic norms, with corporate power often unchecked by government.
• 😀 The real question is whether labor can reclaim some of the wealth generated by their labor, and whether they can tap into these massive streams of money to gain a fair share.

Q & A

What makes the current U.S. oligarchy different from the Russian oligarchy?

The U.S. oligarchy differs from the Russian one because in Russia, Vladimir Putin established clear boundaries with the oligarchs, allowing them to get rich under the condition that they stay out of political affairs. In contrast, the U.S. oligarchs are more directly involved in politics, with no such clear line, allowing them significant influence over governmental decisions.

What does the term 'boligarch' refer to in the context of the script?

'Boligarch' is a term coined to describe U.S. oligarchs who not only amass wealth but also have explicit political agendas. Unlike previous American oligarchs like Carnegie or Rockefeller, they aim to shape political decisions in ways that are anti-democratic and almost monarchical.

What are the core differences between the Gilded Age oligarchs and today's oligarchs?

The key differences are that Gilded Age oligarchs, like Carnegie and Rockefeller, were still constrained by social norms and had to show some level of responsibility through philanthropy, such as funding national parks. Today's oligarchs, however, seem to be beyond such constraints, with no obligation to contribute to society in any meaningful way.

How do today's oligarchs view social responsibility and philanthropy?

Today's oligarchs seem to reject the idea of social responsibility or philanthropy as a duty. Instead, their philanthropic efforts appear to be more about personal image or as a response to social pressures, rather than a genuine commitment to improving society.

What was the significance of JD Vance's role in protecting Elon Musk from the EU?

JD Vance, who was a key supporter of Elon Musk, intervened with the European Union on Musk's behalf, essentially warning the EU that they should leave Musk alone or risk consequences, like pulling out of NATO. This illustrates the extreme influence these modern oligarchs have in both business and geopolitics.

What political philosophy seems to guide the modern oligarchs in the U.S.?

Modern U.S. oligarchs seem to follow a version of the 'Great Man Theory,' which aligns closely with the divine right of kings. They view themselves as uniquely qualified to rule and believe their power should be unquestioned, often branding themselves as 'alpha males' or 'high-tech monarchs.'

How does the concept of the 'Great Man Theory' relate to today's oligarchs?

The 'Great Man Theory' in this context suggests that today's oligarchs believe in their inherent superiority, viewing themselves as leaders who are above traditional democratic norms. This belief in individual greatness is similar to the divine right of kings, where power is seen as divinely ordained.

How has the internet and social media impacted the ability to organize against oligarchs?

The internet and social media, rather than serving as a tool for organizing against oligarchs, have instead divided society into smaller, often conflicting groups. This fragmentation makes it harder for the masses to unite and challenge the power of the oligarchs, which may be an intentional strategy.

What is the potential danger of the combination of corporate power and government power in the U.S.?

The combination of corporate power and government power creates a dangerous situation where the traditional checks and balances are undermined. Instead of government restraining corporate power, it now acts as a facilitator, which could lead to a system where the ultra-rich and corporations dominate decision-making, with little regard for democratic processes.

What is the challenge posed by wealth inequality and its historical context?

Wealth inequality, especially at levels seen today, mirrors the conditions of the Gilded Age, where the extremely rich controlled vast amounts of resources. Historically, such inequality has often led to social upheavals like revolutions or mass strikes. The challenge today is finding a way to address this inequality without resorting to such extreme measures.