Oligarchy: The Looming Threat to Humanity's Future
How Extreme Wealth Concentration Undermines Democracy and the Promise of Technological Progress
The Oligarchy's Threat to Humanity
Oligarchy, a dire threat to humanity’s potential, casts a grotesque shadow over the possibility of a future marked by progress, equality, and shared prosperity—an ideal famously envisioned in the Star Trek universe.
Indeed, it threatens to plunge us into a dystopian nightmare.
Wealth and Power Imbalance
The unchecked accumulation of wealth, birthed by neoliberal ideology, has eroded democratic institutions, amplified inequality, and fueled social unrest and war. This insidious force undermines democracy, healthcare, education, science, and the very fabric of our planet. It paves the way for a neofeudal society where the few dominate the many.
Furthermore, the oligarchy's control over media, both traditional and social, allows them to shape public opinion and manipulate elections.
This insidious power enables them to maintain their grip on society, even as they erode democratic norms and institutions.
Catastrophic Consequences of Oligarchy-Controlled AI
If the oligarchy continues to control AI development, the consequences will be catastrophic.
AI, instead of becoming a tool for human advancement, could be twisted into a tool of oppression, entrenching power and automating production solely for the benefit of the elite. This nightmarish scenario would see resources—and even human beings—exploited with ruthless efficiency, further marginalizing the masses. The majority would be rendered obsolete, their lives crushed under the weight of a cold, calculating system that values profit over humanity.
AI and the Shift in Power Dynamics
In this grim future, the oligarchs wield AI as a weapon, a relentless force that strips away dignity and hope, cementing their dominance and reducing society to a dystopian nightmare where the many are subjugated by the few.
Even now, as AI replaces human labor, the power dynamic shifts dramatically, further concentrating already heavily centralized wealth and control in the hands of a select few. This could lead to a society where the majority are rendered entirely superfluous, their leverage utterly non-existent. Walkout? Strike? What strike?
The Rise of AI-Powered Surveillance and Control
Moreover, the rise of AI-powered drones and surveillance systems threatens to erode traditional checks on power. In the past, the military, composed of ordinary citizens, could potentially challenge tyrannical regimes. However, as the war in Ukraine has already clearly demonstrated, AI-powered drones provide a more efficient and less risky means of waging war and enforcing control. AI-powered drones enable the ruling elite to act with impunity.
The Dystopian Reality
In this dystopian reality, the masses would be de facto or perhaps even de iure property, their needs and desires reduced to mere whispers, secondary to the ruthless and perverted whims of the oligarchs, who see them only as toys for their amusement. Powerless and irrelevant, mere playthings for the indifferent elite. Imagine a world where the depravity of powerful rulers like Nero or Caligula meets the craving for horrific tortures and murders depicted in "Saw" and "Hostel," the world where ordinary people are left utterly powerless and unable to resist. To bring it closer to home, think about the abhorrent comment where oligarch Elon Musk essentially sexually harassed Taylor Swift on X for expressing a political opinion he didn’t like, "threatening" to impregnate her (presenting it as something she surely wants and he generously agrees to). Now, imagine a world where Elon Musk can actually impregnate her and force her to give birth to his offspring, and she can’t do anything to stop it. That is the grim future awaiting us if humanity continues down its current path.
Hope Through Wealth Tax and Limitarianism
Yet, history offers us hope. Successful implementation of wealth taxes in various countries, such as Norway, has demonstrated the feasibility and effectiveness of such measures. Wealth taxes just work. Norway’s wealthiest have faced a wealth tax since 1892, and over the generations, no nation has taken taxing wealth as seriously. If we want less inequality, tax policies must be distributive. This is the fairest way and provides a better foundation for the country to create value. These policies have not only reduced inequality but also contributed to increased happiness, social stability, and economic growth.
Phase One: Wealth Tax
To avert any of the dystopian future scenarios previously mentioned, we should first implement a wealth tax, which is a tax on an individual's net worth, including assets like property, stocks, and savings. This tax could be levied on individual taxpayers with assets above $20 million at 1% and assets above $1 billion at 2% annually, ensuring that over 99% of the population wouldn't pay this tax. Importantly, a wealth tax is not about taxing the income of working people, no matter how much they earn, but rather taxing the assets of the ultra-rich.
At the proposed rates, a wealth tax would significantly benefit society, though the data shows that it wouldn't be able to halt the rapid growth of wealth among the ultra-rich. This makes it a crucial yet modest first step towards broader economic reforms. Interestingly, some of the ultra-rich are themselves advocating for this wealth tax and have expressed their willingness to pay it.
Phase Two: Limitarianism
The next step for society is to embrace and implement limitarianism, a concept aimed at drastically reducing inequality. There are two limits to wealth that we should consider: a political limit and an ethical limit. The political limit is democratically decided, embedded in law and institutions, and is most likely set higher than the ethical limit. The ethical limit, on the other hand, is a voluntary, personal decision where individuals consider their personal context and determine how much wealth is morally acceptable to retain. By adopting this approach, we can ensure that while the number of millionaires increases, there will be no billionaires or trillionaires. This shift will result in a wealthier and expanding middle class, and eradicate poverty. Limitarianism also protects us against regulatory, media, and market capture, restoring capitalism from technofeudalism and safeguarding our democracy.
The 2024 Election: Highlighting the Urgency to Protect Democracy
The importance of protecting democracy has been starkly highlighted by the 2024 presidential election in the USA, where the richest person on earth, Elon Musk, supported by other ultra-rich individuals and followers of the so-called Dark Enlightenment (NRx), dramatically influenced the election. This led to his candidate, Trump, being elected, with 14 billionaires officially part of his administration and others, like another Dark Enlightenment apostle Peter Thiel, working behind the scenes.
Combined Measures for a Sustainable Future
Implementing both these measures (wealth tax and limitarianism) can effectively curb the power of the oligarchy, democratize the benefits of AI, and redirect resources toward critical advancements such as medical research (including cancer and anti-aging), vertical farming, and fusion energy. It promises a more balanced distribution of wealth, fostering a society where prosperity is shared more equitably across all levels, paving the way for a future marked by fairness and opportunity for everyone.
By doing so, we can lay the foundation for a future marked by abundance, equality, and sustainability.
A Call to Action
The choice is ours. We can either succumb to the grip of oligarchy and plunge into a dystopian abyss, or we can seize the opportunity to shape a brighter future. The time to act is now. Spread the word. Keep thinking about it, keep the conversation going, and keep sharing articles and threads like this. Consistency and repetition are key to building the momentum we need. Together, we can heal our world and create a brighter future for all.
Further Exploration
This article is derived from a short thread that we originally posted on Bluesky. You can find it here
Norway, now maybe more than any other nation, is really working to share the wealth.
“Extreme wealth undermines democracy, is incompatible with ecological urgency, is almost always undeserved, and harms the interests of everyone, the super-rich included.” This is how De Wereld van Morgen (22 February 2021) summarised Robeyns’ findings. Read this to learn more about Limitarianism.