If the One Ring did represent something it would not be just power...it would be a system of government that, instead of being perverted by the one who runs it (or wear it in the matter of the One Ring),does not convert itself but changes the nature of the holder into the level of higher evil. a government system, be it communist socialism or democratic capitalism, is always geared towards a common goal, that is, order. but in our case, there's always a problem concerning the authority who of course holds power, they may abuse it and thus pervert the system that is good in its very own nature(the end does not justify the means). In the One Ring, however, we see a reciprocation because it would turn out that its bearer is not the origin of evil but the Ring itself and performs the perversion through its weapon, the ringbearer. It controls the being and put an urge to do its will; to be found by its maker and complete the destruction they both started...
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