Today marks a significant moment in history: Donald Trump is returning to Washington, D.C., for the next four years. This time, his administration promises to be different, armed with a better understanding of power dynamics. Yesterday's pre-inaugural dinner reflected the shifting landscape of influence, attended by an array of powerful figures like Elon Musk of (Tesla, SpaceX, X.com, Neurolink), Jeff Bezos (Amazon), the Vice President, JDV and India’s richest man, Andani, among others I can't name them all, were there. This upcoming regime will likely be defined by oligarchic and technocratic governance, a reality that may surprise many of the grassroots supporters who championed his cause. If this transition marks anything, it is the consolidation of modern power, not in the hands of kings or traditional governments, but within a new aristocracy: the owners and controllers of global financialized capital (OCFC). To understand this new elite, we must trace the rise of corporate power in America, its exploitation of the Global South, the evolution of neoliberalism, and the emergence of a transnational elite untethered from any single nation’s interests.
The story begins in the 17th century with the rise of the corporation, entities granted charters by monarchs to conduct trade and colonization. By the 19th century, corporations dominated America's industrial landscape. Titans like Rockefeller, Carnegie, and Vanderbilt controlled key industries—railroads, steel, and oil—amassing unprecedented wealth. In 1886, a pivotal moment came when the U.S. Supreme Court inadvertently granted corporations the rights of personhood under the 14th Amendment. Though technically a misinterpretation, this legal precedent allowed corporations to shield themselves from excessive regulation, enabling unchecked growth.
By the early 20th century, American corporations extended their power beyond U.S. borders. The United Fruit Company epitomized corporate imperialism, exploiting land and labor in Latin America to supply cheap goods to the U.S. When local governments resisted, the U.S. often intervened militarily or orchestrated coups to protect corporate interests. In 1954, for example, the CIA-backed coup in Guatemala ousted democratically elected President Jacobo Árbenz, whose land reforms threatened United Fruit’s dominance.
This pattern repeated across the Global South, transforming entire regions into neocolonial playgrounds for American corporations.
The economic crises of the 1970s paved the way for neoliberalism, an ideology championing free markets, deregulation, privatization, and austerity. In 1971, President Nixon ended the Bretton Woods system, detaching the U.S. dollar from gold and ushering in an era of financialization. Corporations shifted their focus from producing goods to maximizing shareholder value through speculative investments. Wall Street supplanted Main Street as the epicenter of economic activity, concentrating wealth in the hands of a financial elite.
In his 1961 farewell address, President Dwight Eisenhower warned of the military-industrial complex—a symbiotic relationship between the defense industry, the military, and the government. Despite his warning, the Cold War spurred massive defense spending, enriching corporations like Lockheed Martin, GD, Raytheon, and Boeing.
Today, the military-industrial complex has merged with the tech sector, creating a digital surveillance state and expanding corporate power globally.
The 21st century has given rise to a new class of elites, the a-national OCFC, who operate globally, leveraging financial systems, supply chains, and tax havens to maximize profits. Unlike their predecessors, these elites are not bound by any single nation’s economy or interests. They manipulate markets, exploit labor across borders, and influence international policy through institutions like the IMF and World Bank.
This new aristocracy has exacerbated global inequality, extracting wealth and concentrating it in fewer hands. Environmental degradation accelerates as unaccountable supply chains prioritize profits over sustainability. Political systems destabilize as corporations wield more power than governments.
Despite these challenges, resistance is growing. Grassroots movements, worker collectives, and alternative economic models are challenging the hegemony of corporate power. The rise of corporate dominance and the a-national OCFC marks a turning point in history. With awareness and collective action, there is hope for a future where power is accountable and shared equitably.
The question remains: Will we allow a few to dominate, or will we reclaim power for the many? As we navigate this complex era, we must be vigilant, critical, and hopeful.
It's worth noting that Mr. Trump's inauguration fund raised over $250 million, with the majority coming from fellow billionaires. This has left many grassroots supporters feeling betrayed. However, it's important to emphasize that there is no hate directed toward anyone—only a critique of the politics at play.
Long live the USA. Long live the MAGA movement. And long live the right to critique our governments, here and in Ghana alike.
Pal Ronnie
