Elon Musk, founder of SpaceX, on screen during the company's initial public offering at the Nasdaq MarketSite in New York City on Friday, June 12, 2026.

The Stock Market Boom Is a Boon for Billionaires

The SpaceX IPO made Elon Musk the world’s first trillionaire — and exposed the hollowness of the claim that the stock market has been democratized. Nearly 90% of stocks are owned by the wealthiest 10%, and that skew is only getting more extreme.

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Jacobin is a leading voice of the American left, offering socialist perspectives on politics, economics, and culture.

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Socialism cannot mean merely managing capitalism more fairly. It must point toward a society where survival is no longer contingent on the market — and where democracy extends into the economy itself.

Robert Deniro stars in Martin Scorsese's 1976 film, Taxi Driver

1976 Was Hollywood’s Swan Song

The mid-1970s were a good time for film buffs. But the industry was on the precipice of a long decline that has stripped productions of not only their political content but their seriousness.

A farmer and Bolsonaro supporter is photographed in Mercedes, Parana state, Brazil.

Brazilian Agribusiness Seeks Revenge

Brazil’s powerful agribusiness lobby advanced a raft of bills last month in a legislative shock-and-awe campaign. The most consequential would make Amazon deforestation — sharply reduced under Lula — virtually impossible to monitor and sanction.

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Jacobin is a leading voice of the American left, offering socialist perspectives on politics, economics, and culture.

$29.95
1 Year / 4 Issues
Digital Subscription
$39.95
1 Year / 4 Issues
Print + Digital Subscription