Capitalism will eat democracy — unless we speak up

Here is an open letter to the thinkers, scholars and activists of the world – a letter, unrevised, that I just sent to several friends, colleagues, and mentors.

Hi folks,

Yanis Varoufakis was right in saying, in 2015, that capitalism will eat democracy, unless we speak up – though it took no great foresight to see it coming, five years ago, or even fifty or 100 years ago – or 112 years, since Jack London predicted it in 1908, with his dystopian novel, Iron Heal, which was the inspiration for George Orwell’s, 1984. We are now repeating the 1930s, but on a world scale: global technocratic corporate fascism is here. 

This is exactly what I’ve been saying, in my 2014 book, Enlightened Democracy, and before: modern democracy, from its inception, has been limited to the political realm, and did not include the economic realm; and that led to titanic growth in concentration of unchecked economic powers, which in turn swallowed the political powers – politicans, political parties, governments, nations and states – whole. 

We now either restore democracy, and democratize the economy, or we will see the full merger of business and the state, which is in process right now, and which is called corporatism – which, as Mussolini himself said, is the proper term and definition of fascism.


And with warm regards,

J. Todd Ring,

Author of

Enlightened Democracy


The People vs The Elite

(And yes, to put it bluntly, if we are not both libertarian and socialist, as well as Keynesian, then I would say we are not dealing with the real world. These three threads must be united, or our prospects will most certainly be bleak on all fronts.)

Capitalism will eat democracy — unless we speak up

Yanis Varoufakis, Ted Talks:

Sent from ProtonMail Mobile

One Response to “Capitalism will eat democracy — unless we speak up”

  1. A number of points must be realized if we are to understand the events unfolding in 2020 and beyond, surrounding the novel coronavirus.

    1. A crisis of legitimacy was reaching critical mass globally by 2019, with protests and uprisings in 19 countires, including Canada, the United States, France and Hong Kong. Elites both East and West were getting panicky.

    2. The economic crash of 2007-2010, which I predicted, was papered over with paper money, leaving deep structural problems unresolved, guaranteeing a far greater crash soon to come. The elite understood this very well.

    3. The Western corporate oligarchy had been in relative decline for decades, as the BRIC nations, and particularly China, rose in economic power. The Western elite faced an imminent loss of their 500 year old position as the de facto rulers of the world. Needless to say, the Western oligarchs were not pleased with the thought.

    4. Knowing these three interconnected crises were fast coming to a head, Western elites had been planning for any and all challenges to their power, including external economic rivals, and an internal challenge of greater portent, in the form of an uprising of the people, representing an outbreak of democracy. Documents on this type of planning are extensive and in the public record, beginning at least with the Pentagon Papers, from 1968.

    5. One element of elite planned response was to crash the global economy, through shutting it down deliberately, under pretext of a pandemic. This would blame the coming economic crash on a virus, while turning Western democracies fully into corporate fascist states. The elite would buy up their failing competitors after the crash, while crushing the outbreak of democracy with a resort to permanent authoritarian rule, thus consolidating their power, internally at least, leaving war with China and Russia yet to be addressed.

    Anthony J. Hall comments on what the elite stood to gain by manipulating a state of crisis over a novel virus, noting documents in the public record showing foreknowledge:

    “Among the economic changes being sought are the robotization of almost everything, cashless financial interactions, and elaborate AI impositions. These AI impositions extend to digital alterations of human consciousness and behavior. The emphasis being placed on vaccines is very much interwoven with plans to extend AI into an altered matrix of human nanobiotechnology.

    There are other possibilities to consider. One is that in the autumn of 2019 the economy was already starting to falter. Fortuitously for some, the new virus came along at a moment when it could be exploited as a scapegoat. By placing responsibility for the economic debacle on pathogens rather than people, Wall Street bankers and federal authorities are let off the hook. They can escape any accounting for an economic calamity that they had a hand in helping to instigate.

    A presentation in August of 2019 by the Wall Street leviathan, BlackRock Financial Management, provides a telling indicator of foreknowledge. It was well understood by many insiders in 2019 that a sharp economic downturn was imminent.

    At a meeting of central bankers in Jackson Hole Wyoming, BlackRock representatives delivered a strategy for dealing with the future downturn. Several months later during the spring of 2020 this strategy was adopted by both the US Treasury and the US Federal Reserve. BlackRock’s plan from August of 2019 set the basis of the federal response to the much-anticipated economic meltdown.”


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