In his theory of plutocratic cycles, Vilfredo Pareto distinguished between a cycle’s “demagogic” and “military” phases. Viewed through Pareto’s lens, the United States has been a demagogic plutocracy since the Civil War. A fundamental, if apocalyptic, question is whether environmental, economic, financial, public health, and other ominous trends will end the country’s demagogic phase and begin a
... [Show full abstract] military phase. Threats to plutocratic wealth and power are becoming so great that rentier business interests, in league with rising elite persons and groups, may before long impose “military” measures to keep threats at bay.