Democracy or Plutocracy? America at the Crossroads This episode reviews Chapter Eight of American economist and economic historian Peter Temin’s The Vanishing Middle Class. Temin examines different forms of government—democratic, oligarchic, and autocratic—distinguishing them by who holds power. While the United States is often described as a democracy, Temin argues that its historical legacy of slavery and its widening economic inequality have pushed it closer to an oligarchy, specifically a plutocracy in which the wealthy wield disproportionate influence. The chapter highlights key moments that reinforced this trajectory, from constitutional compromises over slavery to modern developments such as the Supreme Court’s decisions in Bush v. Gore and Shelby County v. Holder, as well as partisan strategies like REDMAP redistricting. Together, these events have eroded democratic norms and opened the door to oligarchic—and even autocratic—tendencies. Temin contrasts what a true democracy would look like, prioritizing public welfare and broad risk reduction through social insurance, with the policies favored by an autocracy, which would serve the extremely rich while dismantling social safety nets. He concludes that unless the United States shifts away from treating voting as a privilege rather than a right, the possibility of sustaining a durable democracy will remain precarious.