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Is modern capitalism beginning to resemble a feudal system? This episode of Explaining History explores the provocative argument, drawn from the work of the late anthropologist David Graeber, that contemporary capitalism has evolved into a new form of feudalism.This episode delves into a lecture by David Graeber, where he contended that modern “rentier capitalism” shares many characteristics with historical feudalism. We’ll unpack the distinction he makes between a system based on the extraction
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The extent to which western soft power and legal and moral authority has been shredded by Gaza is lost upon British, American and European populations for the most part, but across the global south a new movement appears to be coalescing around South Africa and Columbia. In Europe, Ireland and Spain have joined with them and sixteen other global south countries to form the Hague Group, dedicated to upholding international law as it relates to Gaza. This, until quite recently, was inconceivable a
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This episode explores part of the story of St John Philby, father to Kim and eventually advisor to King Ibn Saud. Philby was one of the few administrators that the British government and its colonial government in India could find who understood Arabia and Mesopotamia. In 1915 as British fortunes against the Ottoman Empire took a turn for the worst, Philby was sent to Basra to reorganise the city’s finances after the retreat of the Turks. He would eventually help to organise the financial admini
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In this episode, we hear from with award-winning author, journalist and broadcaster Ben Arogundade about his latest book, Hollywood Blackout.Drawing on a century of film history, Hollywood Blackout explores how the Academy Awards have both resisted and reflected changing social forces — from the Nazi invasion of Europe to the Civil Rights Movement, Vietnam, #OscarsSoWhite, and #BlackLivesMatter. Arogundade reveals how external political and cultural shocks shaped who was celebrated at the Oscars
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From the late 1970s onwards China and the USSR were on two very different historical paths and three US presidents, Carter, Reagan and Bush sought to harness the potential of the world’s most populous country as it rapidly became wealthier. China, often cited as having embraced capitalism after Mao, abandoned inward looking autarchy and opened its economy up in the 1980s to foreign trade and investment. In the 1990s and 2000s there would be an explosion of offshoring that has partially created t
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Jiang Zemin and Hu Jintao are often overlooked but pivotal figures in recent Chinese history whose role in steering China through its extraordinary economic transformation in the 1990s and 2000s is overshadowed by Mao Zedong and Deng Xiaoping. This is the first in a series of podcasts about these two figures and how they created the China now ruled by Xi Jinping.*****STOP PRESS*****I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy author a
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In a hundred years time will China offshore its manufacturing to poorer countries? Not if it has any sense. Today Trump’s great retreat from the tariff war began in earnest as some cold economic realities have begun to bite, but what is the historical long view here? This episode explores how offshoring and America’s weakening dollar supremacy, combined with the ownership of nearly $2 trillion of debt by China and Japan place America in an economic position it has never experienced in its nearly
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In the aftermath of the Second World War, America had half the world’s wealth and a quarter of its GDP. By the 1970s its position as an economic powerhouse without competitor had slipped away and it faced stronger challenges from Europe and Japan. A decade of crisis in America saw the forces of neoliberal thinking take centre stage to eviscerate the New Deal in the 1980s.*****STOP PRESS*****I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy
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America’s de-industrialisation, offshoring, its battle to maintain dollar supremacy whilst also restoring itself to being a net exporter have led to historic crises from which there appear to be no exit. President Trump’s recent and clearly failing tariffs against China and the rest of the world are merely an indication of America’s relative economic decline. This podcast explores the factors that have powered rising Chinese living standards, economic and diplomatic power and the factors that ha
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Fifty years ago, the longest imperial war of the 20th Century ended with the fall of Saigon and the victory of the North Vietnamese in the reunification of Vietnam. Miki Nguyen’s account of his family’s desperate flight from Saigon is covered in his father’s story, Last Flight Out, and his father’s bravery escaping the retribution of the communist forces. You can read his book here, based on his father, Ba Van Nguyen’s memoirs.Explaining History helps you understand the 20th Century through cri