Plutocrats - Billionaires Control the World
- The 0.1% have always been in Power
- Examples of Plutocrats from History Around the World
- US Plutocrat timeline of Power
- 1890s Anti-trust helped US undo Plutocrat power
- 1970s Watergate and Ugly Military Industrial distortions led to
- Energy, Defense used to control politics - now biggest lobbyists are Pharmas
- 1980s Regan fiercely pro-business, Supply side, anti-taxation
- Globalization decimated US but MNCs profits
- 2004+ NeoCons in charge
- 2001-2015 Bush-Obama/Clinton Lies to make billions for their controllers
- 2008 Finance+FED leverage USD Reserve to boost inequality - Plutocrats get richer
- 2015 Citizens United - New era of Political Graft - Approved by Supreme Court!
- 2016 Donald Trump - elected by frustrated/angry Americans
- US Billionaire Plutocrats Enhance their Power and Influence on Political Narratives
- 1980 Reagan Hollywood Celebrity Status used to Win Presidency, Iran helped!
- MEDIA 60s : JFK won by TV Personality over Nixon
- 2016, 2020 Big Tech getting "opted" heavily involved - to fight regulation
- Bezos and WPO
- 1996+ MSNBC - Gates and Microsoft control
- Facebook can change local and specific
- Google can tilt left or right - finding websites by order?
- How Plutocracies arise, or Power Shifts between Groups
- Capitalism and "Free Markets" gravitate to Plutocracies
- Jewish/Zionists and other Tribes that end up Plutocracies, Controlling Press/Hollywood
- Technology Change causes wide rifts
- Power Grab by Military/Elites
- Resource/Environmental Disaster
- Some get rich VERY fast - Billionaires have VAST Disposable Money and HUGE EGOS!
- Key Factors in Keeping Plutocracies in Power
- Voting restricted to rich few or the masses don't vote readily
- Funding of Political campaigns distorts
- Outright Electoral Fraud
- Progressive Taxation helps Equality
- Rich work around for very low effective taxes
- Upper 0.1% buys access to powers with lobbyists
- Donor Class gave majority of seed money for Primaries
The 0.1% have always been in Power
Examples of Plutocrats from History Around the World
Europe esp. France - Rothschilds
Russia the Plut0cracy that made and is controlled by Oligarchs
City of London - run for, by and haven of the rich
The City (also called the Square Mile of ancient London, corresponding to the modern financial district, an area of about 2.5 km2) has a unique electoral system for its local administration, separate from the rest of London. More than two-thirds of voters are not residents, but rather representatives of businesses and other bodies that occupy premises in the City, with votes distributed according to their numbers of employees. The principal justification for this arrangement is that most of the services provided by the City of London Corporation are used by the businesses in the City. In fact about 450,000 non-residents constitute the city's day-time population, far outnumbering the City's 7,000 residents.
Roman Empire - run by privileged citizen senator
Venice/Florence/Genoa merchant controllers
US Plutocrat timeline of Power
1890s Anti-trust helped US undo Plutocrat power
After the Civil War, large industries reaching monopolistic or near-monopolistic levels of market concentration and financial capital increasingly integrating corporations, a handful of very wealthy heads of large corporations began to exert increasing influence over industry, public opinion and politics.
The Sherman Antitrust Act had been enacted in 1890.
Standard Oil and Rockefeller had tentacles all over the US industrial, energy and transportation system. President Theodore Roosevelt became known as the "trust-buster" for his aggressive use of United States antitrust law, through which he managed to break up such major combinations as the largest railroad and Standard Oil, the largest oil company. …we had come to the stage where for our people what was needed was a real democracy; and of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of a plutocracy. -- Theodore Roosevelt
The Gay 1920s was definitely an era where inequality greatly boomed, and the rich held political power.
1970s Watergate and Ugly Military Industrial distortions led to
Energy, Defense used to control politics - now biggest lobbyists are Pharmas
- The most influential families even in an economy that has minted billionaires in a dizzying array of industries, still most families made their fortunes (and kept the money) in just two: finance and energy. These sectors are helped MASSIVELY by
1980s Regan fiercely pro-business, Supply side, anti-taxation
Not since before Watergate have so few people and businesses provided so much early money in a campaign
Globalization decimated US but MNCs profits
The 1980+ Chairman of the Federal Reserve, Paul Volcker, who rescued US from massive inflation, also believed the US to be developing into a plutocracy.
According to Noam Chomsky and Jimmy Carter, the modern United States resembles a plutocracy though with democratic forms.
2004+ NeoCons in charge
2001-2015 Bush-Obama/Clinton Lies to make billions for their controllers
$5 Trillion dollars burnt - Iraq,Afghanistan,Syria destroyed, Iran an Enemy
2008 Finance+FED leverage USD Reserve to boost inequality - Plutocrats get richer
By 2011, Nobel-Prize economist Joseph Stiglitz said US was now "Of the 1%, by the 1%, for the 1%".
The actions of the Fed to "save" the banks, and other now has the US rapidly drifting towards a form of oligarchy, as individual citizens have less impact than economic elites and organized interest groups upon public policy. The entire "occupy Wall Street" movement had no net impact.
2015 Citizens United - New era of Political Graft - Approved by Supreme Court!
2015 Modern US influence has been mostly through channels legalized by the Supreme Court’s Citizens United decision five years ago.
2016 Donald Trump - elected by frustrated/angry Americans
US Billionaire Plutocrats Enhance their Power and Influence on Political Narratives
- A Plutocrat is a person whose power derives from their wealth.
- A plutocracy (Greek: πλοῦτος, ploutos, 'wealth' + κράτος, kratos, 'power') or plutarchy is a society that is ruled or controlled by people of great wealth or income.
1980 Reagan Hollywood Celebrity Status used to Win Presidency, Iran helped!
MEDIA 60s : JFK won by TV Personality over Nixon
2016, 2020 Big Tech getting "opted" heavily involved - to fight regulation
Bezos and WPO
1996+ MSNBC - Gates and Microsoft control
Facebook can change local and specific
Google can tilt left or right - finding websites by order?
How Plutocracies arise, or Power Shifts between Groups
Capitalism and "Free Markets" gravitate to Plutocracies
In fact, in the political jargon and propaganda of the Communist International, Western democratic states were referred to as plutocracies, with the implication being that a small number of extremely wealthy individuals were controlling the countries and holding them to ransom.
Ironically in modern communist states, one North Korea is a totalitarian/repressive state, and one may argue that China/Russia are really no better.
For fascist Italy and Nazi Germany the word "plutocracy" replaced "democracy and capitalism" as the principal fascist term for the United States and Great Britain during the Second World War. For the Nazis, the term was often a code word for "the Jews". In their own turn, Nazis by exterminating millions of Jews, grabbed their many generations of wealth/gold and used that to support their power grab and finance rapid arming and invasion of neighbors with that wealth.
Jewish/Zionists and other Tribes that end up Plutocracies, Controlling Press/Hollywood
To some extent while sympathizing with the Jewish suffering in the holocaust there is no denying the strong ironhold the Zionists have over Anglo-US even 75 years after it. The entire press, media, tv/radio, movies and Hollywood, Wall Street, Universities are all dominated by Jewish PACs. In a sense the Jews underly power in the Western world other than perhaps EU proper ex UK.
Technology Change causes wide rifts
In a nation that is experiencing rapid technological change or economic growth, income inequality will tend to increase as the rate of return on innovation increases.
Power Grab by Military/Elites
Even today military juntas can grab power and establish dictatorships and consolidate power over time. Examples abound in Africa and the Mideast (Turkey,Syria) or there may be tribals.
A plutocracy may develop when a country is collapsing due to resource depletion as the elites attempt to hoard the diminishing wealth or expand debts to maintain stability, which will tend to enrich creditors and financiers.
Some get rich VERY fast - Billionaires have VAST Disposable Money and HUGE EGOS!
Economists have also suggested that free market economies tend to drift into monopolies and oligopolies because of the greater efficiency of larger businesses (see economies of scale).
Key Factors in Keeping Plutocracies in Power
Voting restricted to rich few or the masses don't vote readily
After the Civil war, the poorest quarter of American residents (African-Americans and non-naturalized immigrants) were ineligible to vote
Funding of Political campaigns distorts
After the Civil war, the wealthy funded the campaigns of politicians they preferred, and vote buying was "feasible, easy and widespread"
Outright Electoral Fraud
After the Civil war, it was common for other forms of electoral fraud such as ballot-box stuffing and intimidation of the other party's voters.
Progressive Taxation helps Equality
The U.S. instituted progressive taxation in 1913. This through the 60s helped the emergence of the middle class in USA, and rapid rise of the highest living standards in the world.
One problem was the 70%+ taxes (federal+state) that were common at high incomes.
Rich work around for very low effective taxes
Even as early as the 1970s, elites used their increasing political power to lower their taxes, and today successfully employ what political scientist Jeffrey Winters calls "the income defense industry" to greatly reduce their taxes.
Upper 0.1% buys access to powers with lobbyists
Donor Class gave majority of seed money for Primaries
Modern American plutocrats were called "The Donor Class .. its money buys plenty of access."- Bob Herbert of The New York Times, 1998
In the 2016 election just 158 families and their controlled companies provided the majority of early money or $176m for efforts to capture the White House. Basically - it is fairly cheap to manage the primaries and pre-select candidates. Once that is done, the difference between Democrat and Republican candidates may not matter much.
Lichtblau, Eric; Confessore, Nicholas (10 October 2015). "From Fracking to Finance, a Torrent of Campaign Cash - Top Donors List".
- Plutocracy - Wikipedia
- Paul Krugman - The Conscience of a Liberal, in a section entitled The Politics of Plutocracy
- Chrystia Freeland, Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else
- Interview: Chrystia Freeland, Author Of 'Plutocrats' : NPR
- November 28, 2014 The Long, Dark Shadows of Plutocracy Bill Moyers