017: The Oligarchy Dilemma: Are We Already There? (Part 2 of 2)

In this thought-provoking follow-up to last week's episode of Two Millennials and Mom, Callie, Cole and Mecca continue their deep dive into the US government's function and what it means to live in an oligarchy. They begin raising questions on whether the signs of this power structure are already embedded in our society of the United States today. They explore the consolidation of wealth, corporate influence, media monopolies and the unsettling connections between big business and political power. The discussion kicks off with an exploration of America's founding as a constitutional republic and how that structure has evolved over time. While tackling some heavy topics, they also remind listeners of the importance of staying informed, questioning narratives and—of course—finding moments of levity (like a team of beavers out-engineering humans). Buckle up for part two of this illuminating discussion!

 

10,000-Foot View of this Episode:

• The Foundations of Government: Mecca introduces a passage from Leigh McGowan’s A Return to Common Sense, explaining America’s constitutional republic roots and its gradual shifts over time.
• Corporate Influence and Consolidation: The crew breaks down how massive corporations continue absorbing smaller ones, stifling competition and innovation while gaining unprecedented control over industries.
• The Big Three in Finance: Cole exposes how BlackRock, State Street and Vanguard hold significant shares in thousands of companies, sometimes surpassing even the original founders in ownership influence.
• The Illusion of Choice in Media: We discuss how six corporations control 90% of U.S. media, dictating narratives and limiting independent journalism’s reach.
• Political Power and the Wealthy Elite: The team discusses concern for how some of the wealthiest figures in tech and business—like Jeff Bezos and Mark Zuckerberg—seem to have outsized influence in Washington and beyond, from policy-making and presidential inaugurations to how our society functions and communicates with each other.
• Citizens United and the Cost of Political Power: Cole explains how this court decision fundamentally shifted campaign finance, allowing corporations to pour unlimited funds into influencing elections.
• The Frustrating Reality of Public Influence: A 2014 study found that public sentiment has statistically insignificant effects on policy decisions—while the elite and special interest groups hold a direct correlation to policy enactment. Truth be told, it's a tough pill to swallow.
• Self-Perpetuating Power Structures: From revolving-door lobbying to political dynasties, the group examines how those in power remain entrenched, making systemic change even more difficult.
• Weird Thought: Callie gets fired up about receiving a patronizing form letter from a senator’s office after sending a passionate email about media consolidation. (Dammit, Ted Cruz. Do better!)
• Good News Spotlight: In a stunning display of nature’s efficiency, a team of beavers in the Czech Republic built a dam in two days—achieving what human engineers had spent seven years planning. Sometimes, nature really does know best!

 

Memorable Quotes:

• "The top 1% [of the population in America], their wages grew increased by 206%. Just to give you hard numbers, in 1979, to be in the top 1%, your annual income had to be $267,000. In 2021, it was $820,000." – Cole
• “There are so many channels and so many streaming services. And when you look at it from that perspective…it's the illusion of choice, but then it comes down and it's six companies running 90% of everything?” – Mecca
• “They always say follow the money and when you start following it, it is a scary place to go.” – Callie
• "If you take the median American family, that is the equivalent of them going to Olive Garden for dinner and spending $135. That's the same portion of wealth that Elon [Musk] spent on the 2024 election." – Cole
• "Cough cough, oligarchy! Cough cough." – Callie
• "Really? Is it different to be ignored than to be patronized?" – Mecca
• "If 0% of the public supports a particular policy being enacted, it has the same likelihood of being passed as something that has 100% of support from the American public." – Cole
• "Ted Cruz, read your email. Do better." – Callie

 

Resources Mentioned:

• A Return to Common Sense by Leigh McGowan  (affiliate link)
• The study about Public Influence in Politics by Princeton Professor Martin Gilens (coauthored with Benjamin Page of Northwestern University) Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens
• The Motley Fool article breaking down the "Big Six" corporations controlling 90% of U.S. Media
• History behind the Citizens United v. Federal Election Commission case and the creation of Super PACs
• John Oliver’s Last Week Tonight segment on corporate consolidation

 

Call to Action:

We want to hear from you! Do you think we’re already living in an oligarchy? What solutions do you see for shifting power back to the people? Share your thoughts with us on social media @TMAMPod or send us an email at TMAMPod@gmail.com. And as always, don’t forget to rate, review and subscribe to Two Millennials and Mom on your favorite podcast platform—because the more WE ALL talk about it…the better chance we have of making change happen!