Syndicates of Capital

Jessica Burbank:

A new world order is here. States (countries) are no longer the highest form of power globally. Power has shifted to wealthy individuals who work in groups and operate across borders: syndicates of capital.

Syndicates of capital cannot be categorized as legal or illegal. They exist primarily in the extralegal sphere, where either no regulations apply to their behavior or, where laws do exist, there is no entity powerful enough to enforce them in a manner that asserts control over the syndicates’ behavior.

Yeah. It’s seemed to me for quite awhile now that the most likely form of future world government evolves not from the United Nations but from big multinational corporations controlled by the billionaire class.

See also two recent pieces on the wealthy in America. The Scale of Billionaires’ Campaign Donations is Overwhelming U.S. Politics:

The extraordinary spending in Montana is part of a new era of political power for the rapidly growing number of billionaires minted over the past eight years. The Times analysis found that 300 billionaires and their immediate family members donated more than $3 billion — 19 percent of all contributions — in federal elections in 2024, either directly or through political action committees.

Five presidential elections ago, before the Supreme Court’s 2010 ruling that lifted many remaining campaign finance restrictions, the share of billionaire spending was almost zero — 0.3 percent, to be precise.

The billionaire families gave an average total of $10 million each in 2024, an amount roughly equal to what 100,000 typical political donors gave, combined. And that does not count money that billionaires contributed through dark money groups that do not have to disclose their donors.

And How America Chose Not to Hold the Powerful to Account:

One way to look at the rise of Donald Trump is as part of a decades-long backlash among the American leadership class to the idea of accountability. Since Richard Nixon was forced to resign, powerful people in both political parties have worked assiduously to ensure that their leaders would escape the consequences of their actions. Trump has evaded punishment for crimes both low (campaign-finance violations, for which he was convicted, though he will serve no time thanks to his 2024 victory) and high (his attempted overthrow of the federal government in the aftermath of his 2020 election loss, for which he was spared by the Supreme Court’s decision to grant him kingly immunity). This is not just about Trump; his impunity is the product of a society that has worked hard to help the rich and powerful elude punishment for criminal behavior.

• Jessica Burbank
• politics