Billionaires in world politics: clarifications and refinements. Issue 2 (4th May 2022) - Hägel, Peter
ABSTRACT: This is a response to the comments by Filipe Campello, Julian Culp, Klaus Dingwerth and Julian Eckl, Indira Latorre, and Uchenna Okeja within the present book symposium discussing my book Billionaires in World Politics . While disagreeing with some critiques, I welcome most of the comments as invitations for theoretical refinement and further research. I start with questions about conceptual delineations and the structural background, arguing that 'political modernity' is a concept that is too broad to capture the specific context that allows billionaires to exercise power on the world stage. Then I address questions of agency, which are about the relationships between individual billionaires and collective actors, and the associated issue of legitimacy. The connection between billionaires and their corporations receives special attention, and is discussed in relation to legal innovations that establish individual accountability. I end with thoughts about neo-feudalism, a concept that I reject, because the political agency of billionaires remains wedded to capitalism.