In the Iron Heel, Jack London lays out something right in step with reality, past present and almost certainly the future. Jack London was a guy that had hobnobbed and interacted with the well to do but he had also seen the hard side of life, working on fishing boats and in various brutal exploitive labor jobs, doing time in jail, etc. So he had an insight that not many people have.
In this work he really lays out through fictional characters how many segments of society that claim to represent the downtrodden are bought and owned by the exploitive “oligarchs”, especially the Christian church, the fantasy world of academia, and the crooked labor unions who often sell out the workers. Also your hypocritical well to do armchair liberals who like to pat themselves on the back for any charitable deed, but also (often unwittingly) have blood on their hands and almost always embrace and support the system when they feel their comfortable lifestyle may be threatened or they may have to make a stand.
He also shows how the big Capitalists destroy small and mid level business operators, how they run smear campaigns through the media against anybody within the system that speaks out against them, and the out and out brutality that they use against people that resist them. Its pretty easy to find multitudes of real examples of all these things, whether 100 years ago or in the here and now.
As far as how the revolutionary struggle is portrayed in The Iron Heel there are elements to it that I could see going down if a underground movement to topple the current oligarchs ever occured but there are also elements that I couldn’t see working or even happening in a million years. Besides that at this point in time I don’t think there are enough people out there with the fighting spirit or intelligence to see how they are being screwed over by the system for any mass movement of resistance. Just so long as people can stuff their face with junk food, watch tv, play video games, take mind control drugs like prozac, etc, the new world order doesn’t have much to worry about.