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A podcast that brings cutting-edge research to life, breaking down complex studies into clear, engaging conversations that make the latest discoveries accessible and relevant to everyday learners.
S3 Ep 9 - The Temin Series - Chapter Seven: Preferences of the Very Rich
The EDU101’s Podcast
17 minutes
2 months ago
S3 Ep 9 - The Temin Series - Chapter Seven: Preferences of the Very Rich
Unseen Hands: How America’s Ultra-Rich Shape Policy and Power
This episode reviews Chapter Seven of American economist and economic historian Peter Temin’s The Vanishing Middle Class. Temin explores the disproportionate political influence of the extremely wealthy in the United States, focusing on the top 1 percent and even smaller, more affluent subsets.
The chapter introduces the “Investment Theory of Politics,” which argues that the wealthy treat politics much like a market, investing in policies that protect and expand their interests. Temin illustrates how the very rich often push for reduced government spending, lower taxes, and deregulation while opposing social welfare programs that might benefit the broader population.
The analysis further highlights the strategic and often secretive political activities of ultra-wealthy groups, including the Koch brothers, who have poured resources into reshaping policy and legislation—particularly at the state level—in alignment with their conservative, pro-business ideologies. Temin shows how their financial power has profoundly influenced the American political landscape, consolidating the priorities of the few over the needs of the many.
The EDU101’s Podcast
A podcast that brings cutting-edge research to life, breaking down complex studies into clear, engaging conversations that make the latest discoveries accessible and relevant to everyday learners.