A $500 million yacht moors off a remote Caribbean island. A helicopter takes off from its deck. A massive private jet sits silently on the tarmac of a private airport nearby, surrounded by smaller planes.
Jack the Billionaire is chilling off his private island with his friends and associates. He owns a controlling interest in a $3 trillion global business.
The man is a metaphor for the triumph of capital. The rule of capital is self-evident. The capitalist culture is ubiquitous from east to west and from north to south. We all live in the New Gilded Age ruled by the billionaire.
Meanwhile, the world has plunged into an era of conflict, ethnic hatred and uncertainty reminiscent of the early 1900s, when various powers, especially in Europe, vied to be number one, not hesitating to go to war killing millions of their own young men.
However, this writer believes that in 2024 capitalism will prevail over isolationism, populism, nationalism, anti-Semitism, racism, Donald Trump and Brexit — just as capital has prevailed over fascism, socialism and communism. Why? Because capitalism and globalisation benefit the powerful investor and wily tycoon. Liberalism in its pure form is the religion of the omnipotent capitalist. Capital rules.
Mr. Trump and his toxic brand of populism — the offspring of angry white males who feel left behind by outsourcing to China and elsewhere — is a simple hiccup in the move towards an unstoppable global order driven by technology, cross-border investment, and, soon, artificial intelligence. History will end with the rule of capital.
A free trader
The reason Jack the Capitalist is hugely successful is his focus on his bottom line. Jack considers philanthropy fashionable, yes, but his massive wealth and benevolence are dependent upon a hardheaded approach to business. Consequently, Jack is a free trader.
Jack’s energy and effort underwrite and maximise the returns on his investments. Jack does not consider himself a citizen of any one country. Wherever there is a solid return on capital, Jack lays his head. Jack looks after number one.
Jack will migrate his investments to where costs are lowest and productivity highest. Jack lives by his own rules. Why? He can afford to.
Unlike mere mortals, Jack has the resources and know-how to move his massive wealth to desirable locations at the click of a mouse, even sending thousands of mortals into unemployment and despair.
A world threatened by a return to 20th Century nationalism is not in Jack’s interest. Trade wars, military wars and closed borders threaten the cross-border trade that has made Jack enormously wealthy. Jack will therefore fight insurgent populism with his considerable resources. Jack will back globally oriented politicians for self-preservation. He is a globalist. Global is a synonym for multinational, which is another name for Jack.
Jack will place his cash in trusts, foundations, and think tanks that support his multinational interests. Jack is woke because it favours his business interests. However, were right-wing populism profitable, Jack would be reactionary. He is mercenary, opportunist and omnipresent. Jack has no personal beliefs. Jack’s ideology is the profit-and-loss account. The balance sheet is where Jack goes for worship.
Jack’s favourite port of call is a resort called Davos in Switzerland. That is where Jack huddles with his billionaire chums, well-funded economics experts and political henchmen to create a world in the image of Jack.
Jack is not too concerned with institutions such as the Federal Reserve, the European Central Bank, the Bank of England, the World Bank, and the International Monetary Fund. Why? Because these organisations silently work for Jack. He indirectly controls these beasts through his ownership of the debt that they create and then loan to governments. Jack will ensure they do his bidding, albeit smartly and discreetly.
Jack’s fleet of jets and super yachts are at the disposal of politicians, judges and others in high places. They do his bidding.
Conspiracy theorists pontificate on the hidden malevolence of the military-industrial complex and deep state. But behind these is Jack and his corporations and interests.
In Europe, Jack was totally against Brexit. Jack is a unifier. Economy of scale is what drives Jack’s profits into the stratosphere. It was anathema to Jack to weaken the European Market and Community. Jack had too much to lose if Europe went belly-up. Similarly, United States isolationism is not in Jack’s interests.
Consequently, politicians who strive on a nationalist and populist agenda will hit a wall as immovable as Mount Everest. They already smell the coffee as progressives prevail over right-wing demagogues.
Behind the scenes, Jack will put his considerable energy and resources against any move that will negatively affect his corporate interests and investments. Jack will ensure liberalism and globalisation succeed. Why? Because Jack has a lot to lose if globalisation — also known as capitalism — goes south!
Jack will fight tooth and nail to defend who and what really matters: Jack.