Two new “trillionaires” — the US military and Elon Musk — now occupy the headlines. Both represent a dangerous concentration...
by Peter Isackson, June 19, 2026
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My BookmarksMost of us in the Western world agree with Winston Churchill’s famous quip that “democracy is the worst form of Government except for all those other forms that have been tried from time to time.” Contrary to what many people think who cite this as an argument to accept uncritically the imperfection of our current system, this actually encourages us to imagine the possibility of inventing a form of government that may be more effective than our current version of democracy.
In the age of Donald Trump, people increasingly ask themselves a different question:
Trump’s narcissism and erratic behavior have revealed more than the danger of allowing one man to use what he claims is his unique moral judgment to make decisions that engage the entire population. Trump’s literal folly should not distract us from recognizing an equivalent danger of allowing an undefined group of interested and powerful people make decisions that are undoubtedly “rational” for them but contrary to the reasoned goals of the populace. That is a form of oligarchy that masquerades as democracy by allowing people to cast votes for the candidates selected by political parties, or what everyone from Aristotle to the founders of the United States called “factions.”
One recent incident in European news related to democracies and the role of parties caught my attention, inciting me to formulate the following prompt for Gemini.
Last week, German chancellor Merz made this statement: “The answers offered by radical parties — whether from the left or the right — may sound tempting, but they do not build, they destroy. They divide our country and, should they assume political responsibility in Germany, would lead it into the abyss.”
As pure political prediction I think this is true. But perhaps not for the reason Merz suggests. Merz’s popularity at the moment is 13%, which some might interpret as describing an “abyss.” Wouldn’t any rational politician or analyst admit that if it’s true that the left or the right “divide our country,” doesn’t that simply reflect a more general truth: that any political party or movement that is not a clear majority “divides the country?” Couldn’t a much stronger case be made for the claim that any elected leader whose approval rating is at a mere 13% is, by remaining in power, dividing the country?
I’m glad you brought out the counter-argument because it underlines another critical point, which most analysts in the media avoid altogether. The real reason Merz is correct in predicting a descent into the abyss is not that the policies of the left or the right automatically imply collapse. Rather it’s because the specific political and economic interests that undergird and profit from the status quo will literally go to war against the policies of the so-called extremes.
This is illustrated in the debate about the growing wealth gap and the obvious response, which would be a wealth tax. The argument “centrist” opponents immediately trot out is that this will lead to the flight of capital. They thus announce it as a threat, knowing that such behavior is predictable.
This is where it would be fair to say that the centrist position is quite literally divisive because it refuses to align with and support not only what is good for and desired by the majority but also what is affordable by those who are asked to contribute.
One way to describe their attitude might be: Because capitalism is, democracy can’t be! Another perhaps more direct way of saying this would be: capitalism and democracy are simply not compatible. And because capitalism, driven by the profit motive, is functioning every day and democracy functions only on those very rare days on which elections are held, capitalism will always exclude or at least override democracy.
Ultimately this means that because we believe “markets rule,” it also means that we live in a monied monarchy.
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