I think the monarchy/democracy debate is mostly grounded in an unrealistic formalism. All human societies are oligarchies. The difference between a monarchy and a democracy is not so much who rules, but how the ruling regime is justified and legitimized.https://twitter.com/renaissancezoey/status/1409427339281317888 …
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When NYT threatened Coinbase with a hit piece and then the journalist class was *outraged* that Coinbase didn't cooperate that was semi-open informal power. Would have been open if they were able to say why they were outraged.
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Gotcha. Those two tend to collapse, though, don't you think? Like, the Cosa Nostra, while having a formal structure from the inside, ends up creating an informal structure writ large ("Yeah, Mr. Barone's name is on the building, but Soprano's the guy you've really got to see".)
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Likewise, if you had an open/informal structure ("We just do whatever the NYT tells us"), I would think that functionally becomes a formal structure. It seems like it couldn't really be "open" without be codified / publicly announced, and thus formal.
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