Power

Peter Thiel at Isengaard looking into the Palantir

Peter Thiel and Palmer Luckey are a particularly toxic breed of billionaire welfare queen, who outwardly revile government with every chance they get while having both sucked at its teat to make their fortunes, and currently making a luxe living on taxpayer largesse.

Thiel’s Paypal and Facebook-induced riches rode the coattails of the DARPA-created internet, while Luckey had his exit to internet giant Facebook. Now Thiel helms creepy-AF data mining company Palantir, whose tentacles are wrapped all the way around the intelligence community’s various agencies, while Luckey’s Thiel-funded startup Anduril is bidding for lucrative defense contracts to build Trump’s border wall. It’s the stuff of full-on right-wing neocon wet dreams for both men.

They follow in a long line of right-wing denialism in which Austrian School econ acolytes (and trickle down aficionados) have claimed to be self-made men while reaping untold rewards from lucrative military contracts and other sources of government funding or R&D windfall. Barry Goldwater once famously invoked the mythology of the independent cowboy to describe his successful rise (as would union man Ronald Reagan years later) — when in reality he inherited the family department store business that itself became viable only due to the public money pouring in to nearby military installations springing up in Arizona since as far back as the Civil War.

Even without the American government as their businesses’ largest client, the Libertarian ideal of disproportionately enjoying the fruits of public goods while viciously fighting against the taxation required to pay for them puts the lie to these mens’ claims of Ayn Randian moral supremacy. The ritual flogging of so-called “Great Man Theory” animates all sorts of dangerous social projects such as the world’s richest man purchasing the de facto town square and turning it into a right-wing plaything.

If we’re lucky, Luckey will create some sort of VR seasteading community that sucks the Silicon Valley Supremacists right in and traps them in a sort of Libertarian Matrix forever.

More on Peter Thiel and his right-wing political network:

  • Buddies with right-wing Silicon Valley venture capitalist David Sacks
  • Member of the PayPal Mafia
  • Funded successful Ohio Senator JD Vance‘s campaign
  • Funded loser Blake Masters’ Senatorial campaign in Arizona in 2022
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Dictatorships generally do not foster, or even tolerate, the kind of creative disruption of the status quo necessary to the existence of a dynamic free market. Plus, the economy of the Russian state can best be described as a mafia state, or kleptocracy. Thus Vladimir Putin needs to find other ways to shore up both the national finances and the support of his cronies (much less so, of his people, who are primarily afterthoughts in the Russian power structure).

After the fall of the Soviet Union, the rapid shift to capitalism was done with little oversight and many hands in the cookie jar. The Russian land’s rich stores of minerals, oil and gas, heavy metals, and other natural resources were rapidly privatized and newly-minted oligarchs flexed wealth and power in a way never before dreamed of in the former USSR.

The combination of powerful new gatekeepers who locked up the Russian economy early via capital flight and never let it go overshadowed the capitalistic transition and, in a very real way, hijacked it before it ever really got underway. The result is, some 30 years on, an unpopular creaking kleptocratic regime reviled around the world for its stubborn aggression, subversion of democratic processes around the world particularly in Europe and the United States, support for organized crime, and significant financial crimes on the part of the state itself.

Putin’s autocratic rule from dull to terrifyingly devious has a chilling effect on hope, self-determination, self-governance, and ultimately — on happiness, freedom, and creativity. Totalitarianism is capable of exerting control, but always fails to inspire anything except for eventual revolution against the oppressors.

Here is a granular look at major indicators of the economy of the Russian Federation.

OECD Country Dashboard: Russian economy

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