Wealth Inequality is Out of Control | 11

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 Watch and subscribe to the channel now, as well as our Substack and your favourite podcasting channels, at: https://worthknowingpod.com For show notes and a deep dive on each episode, visit the Substack via the link above.