God next led John to reveal the destruction of the commercial and economic system that Babylon also symbolizes to inform his readers of its end in the future. "Wall Street"identifies a particular geographical location in New York City, but it also represents an economic and commercial system that has its center there. Likewise "Babylon"has throughout history represented a particular economic and commercial system that originated in the geographical city of Babylon as well as a particular religious system.
Many commentators believe chapters 17 and 18 describe the same thing.
"Having portrayed the fate of the harlot-city through the onslaught of the Antichrist and his allies, John composes a dirge over the city in the style of the doom-songs of Old Testament prophets."584
What Babylon symbolizes in this chapter is different from what it symbolizes in chapter 17. Nevertheless, the literal city is also in view in both chapters since it is the historical and philosophical headwaters for both systems. In this chapter there are many references to Babylon's commercial activity. Though God did not identify Babylon's religious influence expressly in chapter 17, the harlot seems clearly to symbolize that. The vision in chapter 18 gives further information about the announcements in 14:8 and 16:19-21. The belief that salvation is by works is the bedrock of religious Babylon (Gen. 11:4: "Come, let us build for ourselves a city, and a tower whose top will reach into heaven."). The desire to glorify self rather than God is the foundation of economic Babylon (Gen. 11:4: "and let us make for ourselves a name").
The parallels between chapters 17 and 18 are as distinctive as the differences. Note Babylon's designation (17:5, 18; cf. 18:2, 10), its description (17:4; cf. 18:6, 16), its deeds (17:2, 6; cf. 18:3, 24), and its destruction (17:16, 17; 18:5, 8).
"The striking parallels between the chapters go beyond coincidence to point to a unified system. That system is identified in both chapters as a city that rules the world."585
"The distinction between the two chapters is that between two systems or networks that have the same geographical headquarters. In chapter 17 it is a religious system that operates independently of and in opposition to the true God, but in chapter 18 it is an economic system that does the same."586
Premillennialist Alan Johnson did not believe we should look for the rebuilding of ancient Babylon but saw the city only as representing a system.
"He [John] is not writing a literal description, even in poetic or figurative language, of the fall of an earthly city, such as Rome or Jerusalem; but in portraying the destruction of a city, he describes God's judgment on the great satanic system of evil that has corrupted the earth's history."587
I expect that the literal city may be rebuilt and may suffer destruction at the end of the Tribulation. However, I also believe that what is in view here is more than just the literal city. It is also what the city has stood for and promoted throughout history, namely, a satanic system marked by every form of idolatrous humanism.588