Opinion | The 'Doom Loop' of American Oligarchy

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Opinion | The 'Doom Loop' of American Oligarchy
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'Reversing the core of Reaganism's oligarchic agenda is the only way to stop the ongoing faction-driven collapse of American democracy.'

The faction-caused Doom Loop goes like this:

So they get together and pour money into the political process, essentially buying all the politicians and judges they need. Eventually the guardrails become so weak that the government's ability to control the excesses of the faction breaks down and the oligarchs take over, transitioning the democracy into oligarchy.

And with a billionaire in the White House for four years, with several billionaires in his cabinet, signing billionaire-friendly executive orders and corruptly devastating the EPA, IRS, and several other federal agencies, we approached the brink.

Today, after Reagan's massive tax cuts and deregulation efforts, we have hundreds of billionaires, and CEO pay in some industries runs a thousand times that of their workers. And legislation with approval rates as high as 80 percent—like funding education and healthcare—are blocked in the Senate. By 2005, as Reagan's neoliberalism spread around the world, countries that were losing their middle classes began to flip into oligarchies and then autocracies.Like the USA, country after country has followed Reaganism/neoliberalism to set aside limits on corporate and oligarch participation in politics, with predictable results. As Freedom House noted in their most recent annual report:

The recurrent concern of the people of that era was that wealthy factions would arise and corrupt any democracy back into something resembling a kingdom with wealthy lords and autocratic rulers."A Party then is, as I take it, a set of men connected together … pretending to have the same private opinion with respect to public concerns; … but when it proceeds further, and influences men's conduct in any considerable degree, it becomes Faction.

Consider today's Republican Party, backed by billionaires and openly opposed to union rights while reaching out to blue-collar voters, as you read Bolingbroke's words: In other words, factions aren't political parties or advocates for the public good. They are, pure and simple, politically active wealthy people opposed to the public good and thus a poison in the bloodstream of a democracy.

"As much as legislators and founders of states ought to be honoured and respected among men, as much ought the founders of sects and factions to be detested and hated; because the influence of faction is directly contrary to that of laws." "And what should render the founders of parties more odious is, the difficulty of extirpating these weeds, when once they have taken root in any state. They naturally propagate themselves for many centuries, and seldom end but by the total dissolution of that government, in which they are sown."

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