The article discusses the alarming idea that the United States may be shifting from democracy to an oligarchy, as highlighted by former President Joe Biden in his farewell address. He warns of a “dangerous concentration of power” among a small group of extraordinarily wealthy individuals, which threatens democratic principles. This notion is supported by Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez, who are currently on a tour aimed at addressing oligarchy concerns.
The term “oligarchy” refers to a government run by a select group, typically the wealthy, who prioritize their interests over the general public. Jeffrey Winters, an expert on oligarchies, identifies two forms of wealth defense: “property defense” and “income defense.”
Historically, the concept dates back to Aristotle, who categorized oligarchy as one of three corrupt government types. Current fears about an American transition to oligarchy stem from the legitimization and overt influence of elites in politics, diverging from established democratic norms.
Historical examples of oligarchy include ancient Sparta, where power was concentrated among a small group, and the U.S. during the Gilded Age, when industrial magnates like Rockefeller and Carnegie dominated political influence, exacerbating economic inequality. The article encourages readers to consider these dynamics in the context of modern governance.
