'diversion flow', 'the diversion-profit loop', 'wealth defense', Capitalism as Oligarchy, Ideology, Inequality, Jim O’Reilly, Oligarchy, the 'zero cost' of diversion, the propertied minority, the unpropertied majority
I argue in my book Capitalism as Oligarchy that inequality isn’t a side-effect of something we happen to call ‘capitalism’ but is rather the core of what the system is. We gain a great deal of insight approaching it this way for not only does it conform to the historical fact that mankind has been materially ruled by a tiny minority for all of recorded history right down to the present day, it pierces through the confusing complexity of ‘capitalism’ and opens up a wonderful simplicity. I believe it’s crucial to see the modern system as nothing other than the current phase of ancient oligarchy.
All we need is plain common sense and a willingness to critically examine the ideologies of ‘capitalism’. I start by identifying the basic motives, risks, and dynamics that seem integral to any system of unequal power. If the system is oligarchy, then few would deny that the core motives of the empowered minority are to aggressively defend…
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