An American oligarchy has battled for control of our country since its founding. In 1980, the American oligarchy re-emerged and has been undermining democracy and skewing government policy. Defenders of democracy are fighting back, including with growing protests against and resistance to King Trump and his administration. Please find and participate in an Oct. 18 No Kings protest near you.

SPECIAL NOTE: We need millions of Americans at the No Kings protests on October 18 in defense of democracy. Please support this however you can. You can find an event near you here.

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An American oligarchy based on wealth and privilege, with race and religion lurking behind them, has battled for control of our country since its founding. The southern plantation owners were the first American oligarchy. The businessmen and industrialists of the late 1800s and early 1900s, who were dubbed the Robber Barons, were the second American oligarchy.

The first American progressive era from the 1890s through 1945 pushed back against oligarchy and the Great Depression, which was caused by the greed of the oligarchs. President Franklin D. Roosevelt’s New Deal and the growth of government and government power due to World War II relegated and regulated the oligarchy to the back seat. This put democracy and we the people in the driver’s seat and in control of America.

The period after World War II, from 1945 to 1980 was the second progressive era. An unwritten post-war social compact framed American society and the economy. It was based on three pillars:

• Corporations served all stakeholders: workers, customers, communities, and shareholders;
• Workers had a right to unionize and receive fair wages and safe working conditions; and
• Government provided a safety net, managed capitalism, and leveled the playing field.

The result was an economy and society where, from 1945 to 1980, the rising tide did lift all boats. Economic inequality narrowed and America moved toward its promise of equal opportunity for all. Workers’ wages increased in accordance with their increases in productivity. The middle class grew along with economic security. Each generation was better off than the previous one. Democracy was working well.

In 1980, with the election of President Reagan, the American oligarchy re-emerged. For the last 45 years, it has been undermining democracy and skewing government policy in its favor. (See this previous post for more details.) Although Republicans have been the driving force, Democrats have contributed to this shift by supporting business deregulation and unconstrained globalization. Democrats also failed to support unions and failed to reform our campaign finance system. Moreover, they have come to rely on campaign contributions from wealthy individuals and corporations.

All this has led to 45 years of dramatically growing income and wealth inequality. The middle class has shrunk, and workers’ wages have increased much less than their increases in productivity. Many Americans have lost their economic security. The public’s faith in government and democracy has declined dramatically.

However, there are signs that a third American progressive era and a resurgence of democracy may be emerging. There is increasing acknowledgement and public awareness that:

• Wealth and income inequality have grown to unacceptable levels.
• Huge corporations tend to engage in monopolistic behaviors such as price fixing and price gouging; decreasing quality, choice, and customer service; and poor treatment of employees in terms of compensation and safety.
• Unrestrained capitalism is not good for consumers, workers, communities, or our planet.
• The oligarchs have rigged our economic system in their favor so that the rising tide is lifting only their yachts.
• Oligarchy is anti-democratic and tends to turn into authoritarianism and fascism, i.e., white, male, Christian nationalism.

Bob Kuttner, a long-time, very astute and thoughtful observer and analyst of American politics and policies, has concluded that American democracy’s efforts to balance capitalism are doomed to fail. The incentives and power of huge corporations and huge wealth are too great and will inevitably overwhelm America’s brand of democracy. He concludes that significant public ownership of key sectors of the economy, i.e., democratic socialism, is necessary to keep capitalism in check. [1]

As Bob Reich recently wrote, “Capitalism is compatible with democracy only if democracy is in the driver’s seat. … [Otherwise] It fuels despotism.” [2] This is reminiscent of the quote from Supreme Court Justice Louis Brandeis back in the 1930s: “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.”

In many sectors of our economy there’s a clear need for strong regulation or public ownership including in health care, communications (including media and the big technology platforms), utilities and energy, the transportation system, banking and finance, housing, and food and agriculture. In these areas, a publicly owned option would be more effective and efficient because it wouldn’t have to cover the costs of profits, big executive pay packages, and advertising. For example, in the health care sector, when the Affordable Care Act (ACA, aka Obama Care) was being developed, health care providers and insurance companies vehemently opposed a public option in the health care market place (basically Medicare available to everyone) because they knew it would be more effective and efficient. This is also why they oppose Medicare of All and are working feverishly to undermine Medicare with their privatized Medicare Advantage plans. We need public Medicare for seniors and a public option for everyone else to stop the rapacious, for-profit health care businesses that put profits before patients. (See previous posts here, here and here for more details.)

The growing protests against and resistance to King Trump and his administration’s actions and policies are signs of a resurgence of democracy and an emerging progressive era. The successes are many, on the streets and in the courtrooms, sometimes small but nonetheless important, and are underreported by the mainstream media. Forcing media executives to put the Jimmy Kimmel show back on the air was a huge and very visible success. (For lots of current good news see Jess Craven’s Chop Wood Carry Water blog here.)

In this vein, please find an October 18^th No Kings event near you here and participate and support it in whatever way you can. We, the American public, as citizens, consumers, and workers, must stand up for democracy, otherwise, we’ll continue down the slippery slope to oligarchy, authoritarianism, and fascism. We can stop the anti-democracy slide, as we did in the Jimmy Kimmel case.

We need millions of Americans engaged in the No Kings protests and in the many, many other smaller protests that are occurring daily. Thank you for all you’re doing! Please keep up the great and important work to save our democracy!

My next post will identify additional signs of a resurgence of democracy and the beginning of a third progressive era, including a surge in unionization, campaign finance reforms, and actions and elections at the state and local levels.

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[1]      Kuttner, R., 12/1/21, “Capitalism vs. liberty,” The American Prospect (https://prospect.org/politics/capitalism-vs-liberty/)

[2]      Reich, R., 9/26/25, “Why are we so polarized? Why is democracy in such peril?” Blog post (https://robertreich.substack.com/p/why-are-we-so-polarized)