The U.S. Founders most certainly did not envision or desire absolute economic egalitarianism, but many, probably most, feared — long before lobbyists and candidate dependence on corporate SuperPACs — that economic inequality could become so severe, wealth concentrated in the hands of so few, that it would contaminate the political realm, where those vast wealth disparities would be replicated, rendering political rights and legal equality illusory.
But the premises of pre-Trump debates over how grave a problem this is have been rendered utterly obsolete by the new realities of the COVID era. A combination of sustained lockdowns, massive state-mandated transfers of wealth to corporate elites in the name of legislative “COVID relief,” and a radically increased dependence on online activities has rendered corporate behemoths close to unchallengeable in terms of both economic and political power.
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These COVID “winners” are not the Randian victors in free market capitalism. Quite the contrary, they are the recipients of enormous amounts of largesse from the U.S. Government, which they control through armies of lobbyists and donations and which therefore constantly intervenes in the market for their benefit. This is not free market capitalism rewarding innovative titans, but rather crony capitalism that is abusing the power of the state to crush small competitors, lavish corporate giants with ever more wealth and power, and turn millions of Americans into vassals whose best case scenario is working multiple jobs at low hourly wages with no benefits, few rights, and even fewer options.
Those most disgusted by this outcome should not be socialists but capitalists: this is a classic merger of state and corporate power —- also known as a hallmark of fascism in its most formal expression — that abuses state interference in markets to consolidate and centralize authority in a small handful of actors in order to disempower everyone else. Those trends were already quite visible prior to Trump and the onset of the pandemic, but have accelerated beyond anyone’s dreams in the wake of mass lockdowns, shutdowns, prolonged isolation and corporate welfare thinly disguised as legislative “relief.”
What makes this most menacing of all is that the primary beneficiaries of these rapid changes are Silicon Valley giants, at least three of which — Facebook, Google, and Amazon — are now classic monopolies. That the wealth of their primary owners and executives — Mark Zuckerberg, Jeff Bezos, Sundar Pichai — has skyrocketed during the pandemic is well-covered, but far more significant is the unprecedented power these companies exert over the dissemination of information and conduct of political debates, to say nothing of the immense data they possess about our lives by virtue of online surveillance.
Stay-at-home orders, lockdowns and social isolation have meant that we rely on Silicon Valley companies to conduct basic life functions more than ever before. We order online from Amazon rather than shop; we conduct meetings online rather than meet in offices; we use Google constantly to navigate and communicate; we rely on social media more than ever to receive information about the world. And exactly as a weakened population’s dependence on them has increased to unprecedented levels, their wealth and power has reached all new heights, as has their willingness to control and censor information and debate.
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These tech companies are more powerful than ever, not only because of their newly amassed wealth at a time when the population is suffering, but also because they overwhelmingly supported the Democratic Party candidate about to assume the presidency. Predictably, they are being rewarded with numerous key positions in his transition team and the same will ultimately be true of the new administration.
The Biden/Harris administration clearly intends to do a great deal for Silicon Valley, and Silicon Valley is well-positioned to do a great deal for them in return, starting with their immense power over the flow of information and debate.
The dominant strain of U.S. neoliberalism — the ruling coalition that has now consolidated power again — is authoritarianism. They view those who oppose them and reject their pieties not as adversaries to be engaged but as enemies, domestic terrorists, bigots, extremists and violence-inciters to be fired, censored, and silenced. And they have on their side — beyond the bulk of the corporate media, and the intelligence community, and Wall Street — an unprecedentedly powerful consortium of tech monopolies willing and able to exert greater control over a population that has rarely, if ever, been so divided, drained, deprived and anemic.
All of these authoritarian powers will, ironically, be invoked and justified in the name of stopping authoritarianism — not from those who wield power but from the movement that was just removed from power. Those who spent four years shrieking to great profit about the dangers of lurking “fascism” will — without realizing the irony — now use this merger of state and corporate power to consolidate their own authority, control the contours of permissible debate, and silence those who challenge them even further. Those most vocally screaming about growing authoritarianism in the U.S. over the last four years were very right in their core warning, but very wrong about the real source of that danger.
There's more at the link.
I strongly recommend that you read Mr. Greenwald's article in full. It's worth your time.