“Bosses of the Senate.” by Joseph Keppler, 1889. At the height of the Gilded Age, private oligopolies became as powerful as, if not more so than, states. Â The more things change…
Alas, capitalism, we hardly knew ye! Actually, we’ve known ye all along, and we know that you can sometimes be a real sumbitch.’ But thanks to the not-surprising-yet-still-infuriating revelations highlighted in the Panama Papers, we know at lot more about the world’s most notorious open secret: global capitalism has allowed private interests to thrive unencumbered by the whims of states, democratic or otherwise.
In fact, you might say that capitalism as practiced by the neoliberal global order is really just a front for perpetuating a modern feudal system. The Road to Serfdom indeed.