Fight against the tech oligarchy: resistance is forming in society!

Fight against the tech oligarchy: resistance is forming in society!

Starts on April 30, 2025 University of Siegen a new lecture series with the title: “From tech oligarchy to anti-fascist economic policy: Current economic policy paradigms and debates”. This event is organized by the Plural Economics Research Center as part of the master's program in Plural Economics: Transformation and Sustainability and will take place online via Webex every Wednesday from 10 a.m. to 11:15 a.m. until July 9, 2025. Participation is open to anyone interested, with no registration required.

The lecture series addresses central questions of today's economic policy, including climate policy, debt issues and political power relations. The event aims to provide a better understanding of economic policy and its influencing factors and to highlight alternative approaches. The speakers include prominent experts such as Heiner Flassbeck, Ulrich Brand, Thomas Fricke and Elena Hofferberth. Through the insights offered, the organizers want to encourage people to think and discuss. Further information is available online.

The tech oligarchy and its effects

The discussion about the power of Tech oligarchy is more relevant than ever. Digital critics and social scientists warn of a dangerous concentration of power and wealth in the hands of a few. Current developments, such as Elon Musk's efforts to undermine state structures by founding companies without democratic legitimacy, raise questions about the future shape of a democratic society.

Musk's plans to dismantle authorities and make sensitive data accessible are examples of this anti-democratic trend. These changes are viewed by many as a “coup d’etat.” Musk sees himself as a liberator of bureaucracy, while critics denounce the dangers of this “efficiency” policy, which primarily serves to concentrate power.

Economic concentration and social inequality

The transfer of power to a small group of technologists and financiers has far-reaching consequences for economic competitiveness and social structure. According to a report by Novo arguments Tech companies like Google and Facebook have monopoly-like control over essential markets, resulting in an unequal distribution of resources and political influence. Eight of the 20 richest people in the world come from Silicon Valley and control almost all aspects of the digital economy.

This development leads to the creation of a “scientific caste system” in which the needs of the middle class are increasingly ignored. In California, where poverty is widespread – a third of families struggle to pay their bills – this inequality is particularly stark. Self-liberating measures, such as proposals for a universal basic income for tech executives, do not lead to a fundamental solution to the problems of the working class.

Given this growing challenge, resistance to the tech oligarchy is seen as essential. The discussions and lectures as part of the lecture series at the University of Siegen could help to take a more critical look at the ongoing economic and political developments and to show alternative perspectives.