In a powerful farewell address, President Joe Biden issued a stark warning about the growing threat of oligarchy in America. He pointed to an "oligarchy" of extreme wealth and power that he believes is jeopardizing the nation's democratic principles. Biden's remarks come as he reflects on his administration's achievements in maintaining a strong democracy amidst increasing concerns about the concentration of power among a select few.
The term "oligarchy" has long been used to describe governments where power is consolidated in the hands of a small elite. Historically, it has been associated with Russian business leaders and the Chinese government. Greek philosopher Aristotle described oligarchy as rule by a few for corrupt purposes, differentiating it from aristocracy, which he saw as rule by the best members of society.
"However, to Aristotle, an aristocracy signified rule by the best members of society, while an oligarchy was characterized by the rule of the few for corrupt and unjust purposes" – National Geographic
During Biden's address, he expressed concern over "a dangerous concentration of power in the hands of a very few, ultra-wealthy people," which he believes poses significant risks if unchecked. This echoes historical instances, such as the control exerted by Russian oligarchs over the country's economy before President Vladimir Putin's rule. Under Putin, these oligarchs faced a stark choice: prison or loyalty.
"Today an oligarchy is taking shape in America of extreme wealth, power and influence that threatens our entire democracy, our basic rights, the freedoms and the fair shot for everyone to get ahead" – Joe Biden
The use of the term "oligarch" has evolved and is now often applied to influential Russian business leaders who have flourished under Putin's regime. During President Trump's first term, his administration released a list of Russian politicians and oligarchs benefiting from such concentrated power.
Biden's comments were met with criticism from political opponents. Anna Kelly, spokesperson for the Trump-Vance transition, responded by highlighting what she perceives as failures of Biden's presidency.
"Joe Biden's legacy is marred by crippling inflation, a migrant crime invasion, and American weakness on the world stage." – Anna Kelly
Kelly further commented on the upcoming transition, expressing optimism for a new era under President Trump.
"Thankfully, in just five days, President Trump will usher in a new Golden Age of American Success and carry out his mandate to Make America Wealthy, Safe, and Great Again" – Anna Kelly
Biden's warning underscores his belief that unchecked power is a fundamental threat to democracy. While applauding his own administration's efforts to uphold democratic values, he emphasized the importance of vigilance against such concentrations of wealth and influence.
China has also been labeled an oligarchy by some due to its leadership structure remaining within a small circle for decades. Although China defines itself as a communist "people's republic," the concentration of power has led to comparisons with oligarchic systems.
Leave a Reply