The article discusses the oligarchic influences manifesting in liberal-democratic, capitalist regimes, exemplified by major figures like Trump and Musk. It examines the challenge of separating wealth from political power and evaluates proposals such as limitarianism, which suggests capping wealth to reduce its political influence. Alternatively, it highlights the 'plebeian' approach, advocating for institutions to counterbalance oligarchic tendencies. While both strategies aim to reform existing frameworks, their underlying philosophies reflect distinct paths for achieving a more equitable political landscape.
"The problem of oligarchy is a problem of undue influence of wealth on politics... can we decouple wealth from political power at all?"
"A standard answer says that we can, roughly by capping wealth at a fairly low level... wealth provides access to power or exemption from justice."
"There are many proposals for 'plebeian' institutions... meant to eliminate or curb oligarchic excesses... with the power to review tax avoidance and to intervene."
"Both those approaches-the limitarian and the plebeian one-as broadly liberal or reformist... envisage liberal democracies with radically different outcomes relative to those we see today."
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