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.

The money keeps flowing up. Governments get poorer. Public services deteriorate. Then the anger is redirected towards people with even less power.

In 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.

Can democracy rebuild the broad Australian middle before private fortunes become private fiefdoms?

Find out in this week's episode of Worth Knowing.

Chapters ➡

00:00 Taking on the big kahuna
01:34 The middle we have lost
03:57 Childhood Australia and the precariat
05:57 What the numbers show
08:29 From the Gilded Age to trickle-up economics
10:59 Three failures of capitalism
15:39 When markets stop being free
19:32 Inequality and the loss of sovereignty
23:27 Cost of living and who profits
25:17 Stop punching down
27:46 Taxing extreme wealth
30:57 Democracy, coalitions and political courage
34:03 Is Britain still a middle power?
35:01 Final thoughts

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For show notes and a deep dive on each episode, visit the Substack via the link above.