Plutocratic Socialism and War on the Middle Class

Plutocratic Socialism and War on the Middle Class. By Mark Mitchell.

A specter is … haunting not just Europe but the entire world, and ground zero for this strange new spirit is the United States, a land where communism never gained a foothold.

This rising spirit has no widely recognized name at present, but it has certain definitive characteristics that coalesce into a singular, grotesque reality. Call it Plutocratic Socialism. …

Public intellectuals give voice to rising concerns that capitalism is the root cause of some of our most persistent and seemingly intractable problems.

  • Race-guru Ibram X. Kendi puts the matter succinctly and with his characteristic antipathy to nuance: “Capitalism is essentially racist; racism is essentially capitalist.”
  • Climate journalist Paul Mason writes that “to save the planet, we have to end capitalism,” and unless we act swiftly, we face “global catastrophe.”

The implications are clear. To end two of the greatest scourges of our day — racism and climate change — we must eradicate capitalism. The apparent alternative? Socialism. …

Every “crisis” drives us towards bigger government, and leadership by the alliance of the rich and their professionals:

The coronavirus pandemic provided a focal point and a sense of urgency. The looming “existential threat” of climate change made sweeping action necessary … The killing of George Floyd in May 2020 touched off protests in the U.S. and around the globe raising awareness of racial injustice that seemed to require profound systemic changes.

The common denominator: crisis. The common agent of change? Government power in partnership with many of the world’s largest multinational corporations. According to the WEF website, “The world must act jointly and swiftly to revamp all aspects of our societies and economies … In short, we need a ‘Great Reset’ of capitalism.” …

Big government and big business, both made possible only by the current system of money manufacture as debt (without which the welfare state couldn’t be so big, and there would be fewer takeovers and more competition in business):

If every country “from the United States to China” joins forces with the world’s most powerful corporations, the ability to effect change will be almost irresistible.

Consider, in this context, some of the “partner” corporations listed at the WEF website: Amazon, Apple, Barclays, Boeing, China Construction Bank, Deutsche Bank, Discovery, European Investment Bank, Facebook, Goldman Sachs, IBM, JPMorgan Chase & Co., Kaiser Permanente, LinkedIn, Mastercard, Microsoft, Nasdaq, Netflix, The New York Times, PayPal, Pfizer, Tyson Foods, UPS, Visa, Walmart, Western Union, and dozens more. What is described here is a global plutocracy: rule by the wealthy.

The Great Reset makes explicit a dynamic that has been developing for some time. This new plutocracy is expanding its reach and concentrating its power. In the process, the lines between public and private money and power — between big business and big government — become increasingly blurred.


Yet wealth is not sufficient for gaining access to the current plutocratic class. What is also necessary is a particular outlook, a plutocratic psychology, if you will.

This illusory meritocracy is rooted in the false belief that wealth, or proximity to wealth, is an indication of special moral virtue. Not surprisingly, this belief manifests itself in a disposition of self-righteousness whereby those infected by it come to see themselves as superior to their fellow-citizens who are, alas, not wealthy or connected. They come to see themselves as above the law, for law is necessary for controlling the common citizen, but it is certainly not something that should limit those possessing the moral superiority that wealth would seem to denote. Thus, the plutocracy is characterized by both insolence and self-righteousness, and it is not conveniently confined to either the left or right.

But isn’t a plutocratic leadership at odds with socialism? Not if you’re woke:

Woke socialism is rooted in the claim that the world is sharply divided between two classes construed in various ways as the oppressors and the oppressed, the victimizers and the victims, the powerful and the weak. Plutocrats clearly hold the power and those deemed oppressed or marginalized — people of color, women, the poor, those identifying as LGBT, etc. — do not.

It is at this point that things get dicey. Plutocrats must appear to make common cause with the oppressed lest they forfeit the perception of moral authority. To do so they must convince themselves that their special virtue and status provide them with the unique opportunity to do important work on behalf of the oppressed thereby legitimating their own relentless hold on wealth, status, and power.

How else can one explain the self-righteous arrogance of the plutocratic class? How else can one explain the full-on embrace of the Woke agenda by corporate leaders, the military, colleges and universities, the media and so on? How else can one understand the Davos set — comprised of political officials, corporate leaders, and prominent media figures — flying private jets to their annual confab in Switzerland to issue vehement condemnations of behavior that contributes to the “climate crisis.” Their sense of self-importance far exceeds their carbon footprints, which are, alas, far larger than average. They are not socialists, and they never intend to forfeit their wealth, power, and status in the name of equality (or even equity). …

It is as if the bourgeoisie and the proletariat decided to strike a secret pact and work together rather than allow their rancorous animosity to ignite a full-blown revolution. The leadership of both classes have much to gain by this seemingly bizarre arrangement. Plutocrats gain moral legitimacy, and socialist leaders gain wealth, status, and power. …

The plutocratic class — working in tandem with socialist agitators in the streets, the educational institutions, and the media — is striving relentlessly toward this end, one where citizens are increasingly dependent and the power of their plutocratic masters is further entrenched.

The middle class is the enemy of their hi-lo coalition:

All that stands in the way of this revolutionary agenda are middle class citizens who disdain both the servility of socialism and the insolent power of the plutocracy.

In 1971, 61 percent — a clear majority — of Americans were in the middle-class. By 2015, 50 percent were middle-class … Home-ownership, long considered a vital indicator of middle-class status, has become an increasingly elusive dream. Under-employment, student debt, inflation, and a general demoralization have led many to conclude that their standard of living, and happiness in general, will not approximate that of their parents. …

The American Founders understood that political freedom and broadly distributed private property stand or fall together. Anyone concerned about the future of freedom, and about the future of our republic, must work tirelessly to bolster and expand the middle class, middle class property, and the middle class virtues that property ownership helps to cultivate. The strength — indeed, the very survival — of our republic is fundamentally tied to the strength of our middle class.

No middle class, no American dream.

Know middle class, know American dream.

hat-tip Charles