Economics/Class Relations

Smash the Oligarchy

For some time, I have thought that The American Conservative is the most “left-wing” of any mainstream US publication. TAC is a lot closer to Dorothy Day and Peter Maurin or even Dwight McDonald, Gore Vidal, and Normal Mailer than the FOX News creeps. Most formally “liberal” or “left” publications cannot shake the influence of Wilsonian liberal internationalism or Crolyite progressive managerial statism. What passes for the “left” in the US usually amounts to Wilsonian progressive liberalism, minus the racism, and plus the sexual revolution (sort of).

By Josiah Lippincott

The American Conservative

Smash the oligarchy.

America’s super-wealthy have too much power. A republican regime based on the consent of the governed cannot survive when a few hands control too large a sum of money and too much human capital. A dominion of monopolists spells ruin for the common man.

The Federal Reserve calculates that, at present, America’s total household wealth equals $104 trillion. Of that, $3.4 trillion belongs to America’s 600 billionaires alone. Put another way, 3% of the nation’s wealth belongs to 0.0002% of the population. Those 600 names control twice as much wealth as the least wealthy 170 million Americans combined. This is a problem. Economic power means political power. In an era of mass media, it has never been easier to manufacture public opinion and to manipulate the citizenry.


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