The Left-Right Political Spectrum Is Bogus

http://www.theatlantic.com/politics/archive/2014/06/the-left-right-political-spectrum-is-bogus/373139/

?n7h68l
The French Estates-General in 1789 (Isidore-Stanislaus Helman via Wikimedia Commons)

***SNIP

The familiar notion is that when you reduce the power of the state, you increase the power of capital, and vice versa. To put it mildly, this claim is non-empirical. The rise of capital, its consolidation into a few hands, and the enduring structures of monopoly or gigantism to which it gives rise are inconceivable without the state.

Michel Beaud, in his History of Capitalism, is one of many historians who have found the state connection criterial: "What one in any case should remember is the importance of the state in the birth, the first beginnings of capitalism .... The primary transforming factor is the state. National unity, currency standardization, juridical coherence, military strength and the beginnings of a national economy: all these were created and developed by the state, or with the state as organizing principle."

Capital accumulations on the vast scales we see today are not possible in the absence of pervasive domestic policing and the ability to project military power. The British colonial economy—one capitalist apogee—would have been impossible without a huge state. The American robber-baron period is often held to have been to have led to hyper-concentration of wealth in a few private hands and to have been constrained ultimately by the state. If you look at the actual procedures employed by a Vanderbilt, a Rockefeller, a Carnegie, you see that they depended fundamentally on state sponsorship and state violence, which such men were in a position to command in virtue of their wealth. This underwent various adjustments in the so-called Progressive Era, but though specific cartels and fortunes were compromised, the consolidation in the long run continued, as the government became the central bank (more or less merging with J.P. Morgan) and the modern bureaucratic corporation emerged.

Consider by way of comparison the Soviet system. Nationalizing industry and imposing five-year plans didn’t make society more equal; it just made the Communist Party a committee of capitalists. Communist totalitarianism was a particular and particularly extreme form of the merger of state and capital, but that merger is everywhere. If one thought a bit, for example, about the way that government energy policies and private energy concerns are interlocked, one would see less and less sense of distinction. Regulators and corporate lobbyists and congressional staffers are all the same people.