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Revolt of the Rich: Have Our Financial Elites Already Seceded from America?

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Richard Clark
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This raises disturbing questions for those who call themselves conservatives.   Almost all conservatives who care to vote congregate in the Republican Party.   But Republican ideology celebrates outsourcing, globalization, and takeovers as the glorious fruits of capitalism's "creative destruction."   As a former Republican congressional staff member, I saw for myself how GOP proponents of globalized vulture capitalism, such as Grover Norquist, Dick Armey, Phil Gramm, and Lawrence Kudlow, extolled the offshoring and financialization process as an unalloyed benefit.   They were quick to denounce as socialism any attempt to mitigate its impact on society.   Yet their ideology is nothing more than an upside-down utopianism, an absolutist twin of Marxism.   If millions of people's interests get damaged in the process of implementing their ideology, it is a necessary outcome of scientific laws of economics that must never be tampered with -- just as Lenin believed that his version of materialist laws were final and inexorable.

 

If a morally acceptable American conservatism is ever to extricate itself from a pseudo-scientific inverted Marxist economic theory, it must grasp that order, tradition, and stability are not coterminous with an uncritical worship of the Almighty Dollar, nor with obeisance to the demands of the wealthy.   Conservatives need to think about the world they want: do they really desire a social Darwinist dystopia?

 

The objective of the predatory super-rich and their political handmaidens is to discredit and destroy the traditional nation state and auction its resources to themselves.   Those super-rich, in turn, aim to create a "tollbooth" economy, whereby more and more of our highways, bridges, libraries, parks, and beaches are possessed by private oligarchs who will extract a toll from the rest of us.   Was this the vision of the Founders?   Was this why they believed governments were instituted among men -- that the very sinews of the state should be possessed by the wealthy in the same manner that kingdoms of the Old World were the personal property of the monarch?

 

Since the first ziggurats rose in ancient Babylonia, the so-called forces of order, stability, and tradition have feared a revolt from below.   Beginning with Edmund Burke and Joseph de Maistre after the French Revolution, a whole genre of political writings -- some classical liberal, some conservative, some reactionary -- has propounded this theme.   The title of Ortega y Gasset's most famous work, The Revolt of the Masses, tells us something about the mental atmosphere of this literature.

 

But in globalized postmodern America, what if this whole vision about where order, stability, and a tolerable framework for governance come from, and who threatens those values, is inverted?   Christopher Lasch came closer to the truth in The Revolt of the Elites, when he wrote, "In our time, the chief threat seems to come from those at the top of the social hierarchy, not the masses."   Lasch held that the elites -- by which he meant not just the super-wealthy but also their managerial coat holders and professional apologists -- were undermining the country's promise as a constitutional republic with their prehensile greed, their asocial cultural values, and their absence of civic responsibility.

 

Lasch wrote this in 1995.   Now, almost two decades later, the super-rich have achieved escape velocity from the gravitational pull of the very society they rule over.   They have seceded from America.

 

Now an Independent, Mike Lofgren served 16 years on the Republican staff of the House and Senate Budget Committees.   He has just published The Party Is Over:   How Republicans Went Crazy, Democrats Became Useless, and the Middle Class Got Shafted .  

 

The American Conservative is the home of independent, intelligent conservatism.   Follow @amconmag .

 

 

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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