The Queen is Dead but Modern Monarchies are Still Alive
Replacing the crown with economic and political dynasties
Replacing the crown with economic and political dynasties
With the death of Queen Elizabeth, there has been a renewed interest in ending the British monarchy, manifesting in increased scrutiny and online petitions calling to abolish the wretched institution. People are incensed by its existence due to the undue privilege and influence its descendants get by virtue of their birth. In modern times, these entitlements are easily objected to with societies’ closer analysis of privilege, merit, and power. Despite these strides, I see another version of the monarchy cropping up in a more obscure but insidious way, hiding behind the lens of political and financial dynasties.
The Political Monarchs
Just as brands and influencers can induce people in mass to buy products, political families can create an aura around themselves, inducing the masses to vote for them. Aside from the easier name recognition, the newer members benefit from the masses associating them with the same acumen and political experience as the prior figure. This smokescreen allows unqualified or manipulable people to enter office covertly, evading the true will of the people.
On the state level in America, these political dynasties are extensive and well documented. The presidential level offers many familiar names like the Kennedys, Bushes, Clintons, Bidens, and Trumps; all these families have presidents and, in addition, have produced elected and appointed members of office. Who says bipartisanship is dead? This issue is exacerbated in newer democratic countries. For instance, in Indonesia (where democracy began in 2005), numerous areas came under the rule of a rotating wheel of family members. This became such an issue that the country passed a law in March 2015 stopping close relatives from running for various seats until at least one five-year term had passed. Similar pseudo-monarchies exist in India as well, with around 21% of MPs in 2014 coming from a political family. The three countries previously mentioned are the three largest democracies in the world.
In a recent study that analyzed democracies around the world, approximately 1 in 10 leaders came from a political family with Europe and Latin America topping the list (see below figure). However sub-Saharan African leaders who did have family ties were most likely to have been related to former heads of state.
Another more subtle issue with the growth of political families is the political stagnation they can bring to politics. In mass, these people are raised on the same values, send their children to the same schools, socialize in the same circles and in the long term bring in and keep the same political ideas and ideologies developed within their circle. Over time in politics, as these people accumulate, a shared groupthink materializes, causing elected individuals to function more as tools of the state than tools of their constituents.
The Economic Monarchs
Everyone loves family run businesses. Visiting local farms or families who have honed a vocation for generations is amazing to see. Their depth in their local community is lauded, and this can extend even when the business grows. However, their benefit to society crumbles as they overextend their reach. The connection to the local community dwindles, and the cold, hard push towards satisfying the bottom line fills its place. When these companies make decisions that disrupt other local communities, the democratic will of the people involved is circumvented and disregarded. This is exacerbated even more when the power to hurt these communities is held in the consolidated hands of the family.
In America, this takes shape with the dominance of Walmart. The Arkansas-based company is the largest employer in the country, with an increasing reach all over the world, but it comes with its downsides. As the company expands in new areas, it has been shown to cause a plethora of issues, including reducing local wages, driving down local economic activity and killing neighboring small businesses. In their quest to expand overseas, they have also resorted to bribery in order to get approval to set up shop. Many argue on balance that Walmart can act as a net good through creative disruption, but its outsize influence dwarfing local communities cannot be disregarded. In addition, with the large profits the business makes, the family uses it to lobby towards the privatization of schools nationwide — again circumventing the will of any local populace caught in its crosshairs.
The large conglomerate families of South Korea exercise their power even more aggressively against democracy itself. Their ubiquity has earned them the name chaebol — combination of the Korean words chae (wealth) and bol (clan or clique). According to the Bank of Korea, total revenues of the five largest South Korean chaebols alone represented 44% of South Korea’s GDP in 2019, with Samsung alone accounting for up to 17% of the country’s GDP. The Lee family has been at Samsung’s helm for three generations and has been consistently among the richest families in Asia. The influences of these families has culminated in the past seven heads of state being involved in corruption scandals and many top executives from Samsung, Hyundai and others being found guilty of corruption. Even when this corruption is caught, the executives face little repercussion and consistently pay fines, receive presidential pardons, or see their jail sentences suspended by the courts. Once these are settled, the judiciary is rewarded handsomely with political and corporate promotions.
The Solution
Ultimately, I am complaining about the consolidation of power. Families are one dynamic that this is done through, but to solve this issue, we have to use solutions that target the general issue. Many solutions have already been proposed, including increasing wealth taxes, breaking up monopolies, minimizing corporate campaign financing, and putting checks on relatives of those in office when running. In general, more scrutiny and awareness about these powerful families should be raised as well.
People will be people, and most people want everyone in their family to succeed. The idea of them not leveraging their wealth and power is laughable. In matters that affect important aspects of our daily lives, these natural tendencies have to be guarded against.