Billionaire Backlash

In this episode of International Horizons, host John Torpey sits with Pepper Culpepper, Blavatnik Professor of Government and Public Policy at the University of Oxford, to explore the core thesis of his recent book, Billionaire Backlash: The Age of Corporate Scandal and How It Could Save Democracy (co-authored with Taeku Lee).

Drawing historical parallels to the American Progressive Era and the trust-busting of the early 20th century, Culpepper explains how corporate missteps act as catalysts for public action. The discussion delves into the concept of "latent opinion"—the submerged, widespread unease regarding corporate power, tech monopolies, and unchecked wealth that may be missed by conventional polling endeavors — and how high-profile scandals mobilize this sentiment into concrete regulatory reform. From the fiasco of Cambridge Analytica and controversies over AI data centers to the rising political tension surrounding billionaires, this conversation offers a nuanced, "possibilist" framework for how public outrage can revitalize democratic institutions and establish essential guardrails for modern capitalism.

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