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Outgoing US President Joe Biden warned of the dangers of an oligarchy gaining power as he delivered his farewell address and brought a decades-long career in politics to an end. "Today, an ...
In short, an oligarchy is an elite few who control the government's actions. By using the pointedly negative term “oligarchy,” Biden equated this moment — when the world's wealthiest men are feting President-elect Donald Trump — with some of history's more brutal regimes.
PHOTO: President Joe Biden delivers his farewell address to the nation from the Oval Office of the White House in Washington, D.C., on Jan. 15, 2025.
WASHINGTON ― President Joe Biden delivered a vigorous defense of his record and warned of an American "oligarchy" in a primetime address from the Oval Office as he bid farewell to four years in ...
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead," Biden said, drawing attention to "a dangerous concentration of power in the hands of a few ultra-wealthy people.
The iron law of oligarchy is a political theory first developed by the German-born Italian sociologist Robert Michels in his 1911 book Political Parties. [1] It asserts that rule by an elite, or oligarchy , is inevitable as an "iron law" within any democratic organization as part of the "tactical and technical necessities" of the organization.
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of government in which power rests with a small number of people.
Who says organization, says oligarchy" and went on to state "Historical evolution mocks all the prophylactic measures that have been adopted for the prevention of oligarchy". [86] Michels stated that the official goal of democracy of eliminating elite rule was impossible, that democracy is a façade legitimizing the rule of a particular elite ...