I think the classical Marxist concept thatâs most sorely needed as a corrective to 21st century socialism is that global capitalism is about the power of private, exchangeable wealth (capital) over labor, wealth, and social organization more than itâs about the rule of the capitalist class over society.
The capitalists are personification of capital as a form of power. Not that the individual capitalists being the personifications of capital means their personal interests, political strategies, and interpersonal conspiracies are irrelevant. Just that the playing field of capitalism can look a million different ways and the key element of the monopoly power of capital remains.
We should be trying to shift the focus of criticisms of billionaires from the quantity of their income and the lavishness of their wealth to the monopoly power that they own and command. That monopoly power is just as much executed by experts, bankers, and managers, if not more so in the everyday operations of capital.
People already notice this when they talk about corporations overriding the wishes of democratic institutions like town halls, surveilling and manipulating us, and gaining control over every facet of our lives. We just need to point out the way that these things indicate a whole social mode of organizing power and work with others in figuring out a democratic strategy to limit it, control it, and destroy it through socialization.
If we only focus on supporting the politicians who are trust busting individual capitalists or corporations, we arenât fighting for a different overriding law of social organization. We can only do that by prioritizing our own power as everyday people who own no wealth and command no power. And that will mean a strategy of violent resistance and insurrection, never shying away from challenging the power of technocratic middle class elites over our lives along the way to destroying the billionaires who employ them