[O]ligarchy, strictly speaking, is a regime "in which a rich minority rules for the advantage of the rich minority and in which the people composing … - Allen C. Guelzo

Francis Fukuyama seized on the ignominious collapse of the Soviet system as proof that “the end point of mankind’s ideological evolution” was “the universalization of Western liberal democracy as the final form of human government” and Marxism’s “death as a living ideology of world historical significance.” That conclusion was, to say the least, premature, not only because it reckoned without the rise of an Islamist theocracy or the fallout from the 2008 worldwide recession, which provoked a renascence of Marxist advocacy in the writings of Antonio Negri and Michael Hardt, Alain Badiou, the Occupy Movement, and Thomas Picketty. This pattern is, again, an echo of what happened in Reconstruction, and it warns those who yet believe that liberal democracy is the most desirable political future to be wary of Whiggish assumptions about democracy’s inevitability. Human society has oscillated between desires for stability, security, and reciprocity—which is what feudalism, Marxism, and theocracy promise—and desires for mobility, liberty, and profit—which is what the Enlightenment offered on a world-historical scale. There is nothing that can be declared permanent in a bourgeois revolution, and our own Reconstruction, not to mention a good deal of recent history, is the unhappy proof.

At the end of the Civil War, the "Slave Power" had been destroyed, free-labor Republicanism was triumphant, and the freed slave was poised on the verge of assuming an equal place in American society with every other citizen. Fifteen years later, the one-time slaveholders were back in control of the South, free-labor Republicanism was coping with the first stresses of mass industrialization in its own Northern backyard, and the freedmen were consigned to an economic peonage that offered little practical improvement on enslavement. It began to seem that a great opportunity had been bobbled away.

Everywhere that there is aristocracy in the world, there is sympathy for the Confederacy, and rejoicing that this civil war looks like it's finally going to paid for good to these notions of democracy.