Honest, Frodo - I'd only be using the One Ring for the Greater Good!
It is striking that the possession of the One Ring is rejected by even the most good and most powerful characters of The Lord of the Rings.
Why this should be, is explained at The Notion Club Papers blog.
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The reason is a variation of what I have often termed The Boromir Strategy - or "Hey lads, let's use the One Ring to fight Sauron!".
The Boromir Strategy is the usual form taken by would-be resistance to global totalitarian leftism - which is why so much time and effort is expended in the mass media and blogosphere in "studying the arts of the enemy" in order (supposedly, purportedly) to discover and use the enemy's methods against the enemy...
Yaas...
In the NCP-blog post I make clear that to do this is already to have joined-with the enemy.
To claim The Ring is a counter-productive pseudo-attempt to fight the enemy by moving onto the enemy's own ground; or - more precisely - trying to fight the enemy after opening the door and inviting him right inside the castle keep.
The reason the Boromir Strategy is so popular as to be near universal, is that it is a mask of good intentions used to cover the reality of evil motivations.
The argument was deployed in Lord of the Rings to justify Boromir forcibly trying to take the One Ring from Frodo in order to use it himself - for his own purposes, including his greater power and glory.
The pretence was that this was done only to save Gondor, and to defeat Sauron - but that was not true.
Well - Boromir realized this, and he repented (and confessed); and did his best to atone for the damage he had done.
And... what Boromir did in the story, anybody can do in "real life".
