: I'll tell YOU what is NOT 'rule by the people'. A system in which an elite writes laws in their favor and uses sanctimonious phrases like 'free enterprise' to protect their tyrannical dominion. Rule by the people means that the peopel RULE, i.e. they pass laws that everyone is required to obey. If capitalists break these laws, they are criminals and should be deal with as criminals.
: A 'despotism of the people' is an oxymoron.
*There's a line from Marx to the effect that the bourgeoisie criticise the communists for wishing to do away with private property when under their own system, 90% of people are already deprived; and the fact that their 10% own all the productive properties is precisely due to its non-existence in the hands of the proletarians. Communism seeks to end this hegemony of the few replacing it with property held in common for all.
Personally, I don't see the owning classes giving up on the arrangement they have that easily or quickly. Rather than see this as an incitment to violent means, revolutionary Leftists need to get organised. Only then should the question of how best to proceed (legal or underground or some combination) be seen as an essential one.* --K