{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Worth Knowing","title":"Wealth Inequality is Out of Control | 11","html":"","width":"100%","height":180,"duration":2157,"description":"The middle class is being hollowed out while a tiny owning class accumulates fortunes, assets and political power at a scale that rivals nation-states. \nThe money keeps flowing up. Governments get poorer. Public services deteriorate. Then the anger is redirected towards people with even less power.\nIn this episode, Matt and Elliot follow the divide between owners and earners, expose how extreme wealth escapes taxation and ask what it would take to start punching up again.\nCan democracy rebuild the broad Australian middle before private fortunes become private fiefdoms?\nFind out in this week's episode of Worth Knowing.\nChapters ➡\n00:00 Taking on the big kahuna\n01:34 The middle we have lost\n03:57 Childhood Australia and the precariat\n05:57 What the numbers show\n08:29 From the Gilded Age to trickle-up economics\n10:59 Three failures of capitalism\n15:39 When markets stop being free\n19:32 Inequality and the loss of sovereignty\n23:27 Cost of living and who profits\n25:17 Stop punching down\n27:46 Taxing extreme wealth\n30:57 Democracy, coalitions and political courage\n34:03 Is Britain still a middle power?\n35:01 Final thoughts\nWatch and subscribe to the channel now, as well as our Substack and your favourite podcasting channels, at: https://worthknowingpod.com\nFor show notes and a deep dive on each episode, visit the Substack via the link above.","thumbnail_url":"https://img.transistorcdn.com/kLOyudmflklpLa-NLw5_OVigjIyc7rj5qEtrsj0bHtc/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81NjFi/MmVkNzEyOTJhZWQx/NjE5ZjM1OTk2MjFk/N2Q3My5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}