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On Taxing Wealth
Episode Summary:
In this episode of Explaining History, Nick takes a deep dive into the history and necessity of taxation, connecting the Tudor reign of Henry VII to the modern crisis of inequality in the UK.
With the Green Party surging past Labour in recent polls by promising to "tax the rich," we explore why this idea is about more than just funding public services—it's about democracy itself. Nick draws a parallel between the "overmighty nobles" of the 15th century, whose private armies threatened the crown, and today’s billionaires, whose vast wealth allows them to purchase political influence and bypass democratic norms.
From the dismantling of the post-war social democratic consensus to the devastating impact of austerity (or "de-development") on British society, we ask: Can a society survive when capital has captured the state?
Key Topics:
- The Green Surge: Zack Polanski and the political shift to the left.
- Henry VII’s Strategy: How taxing the nobility prevented civil war and consolidated power.
- Rentier Capitalism: Why "lazy money" prefers property to innovation.
- Austerity as De-development: The stealth privatization of British life.
- The Threat to Democracy: How extreme wealth inequality destabilizes nations.
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Published on 6 days, 1 hour ago