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That, combined with a dangerous “concentration of technology power and wealth,” he added, is forming a new “oligarchy” of “extreme wealth, power and influence that literally threatens ...
Jesus explicitly condemns excessive love of wealth as an intrinsic evil in various passages in the Gospels, especially in Luke (Luke 16:10–15 [23] being an especially clear example). He also consistently warns of the danger of riches as a hindrance to favor with God; as in the Parable of the Sower, where it is said:
Biden, in farewell address, warns about dangers of unchecked power in wealthy. ALEXANDRA HUTZLER. January 15, 2025 at 5:20 PM. ... "Today, an oligarchy is taking shape in America of extreme wealth ...
While he celebrated the past, Biden also warned of dangers in the future – particularly the potential rise of a “tech industrial complex” and an “oligarchy” of “extreme, wealth and ...
Hence, wealth provides mobility and agency—the ability to act. The accumulation of wealth enables a variety of freedoms, and removes limits on life that one might otherwise face. Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 30.9% of the country's wealth, while the bottom 50% held 2.6%. [7]
The authors quote a number of luminaries on the dangers of concentrated wealth and its incompatibility with good government—Theodore Roosevelt (p. 80), Louis Brandeis (p. 81–82), Alexis de Tocqueville (p. 77), the 1st-century Greek historian Plutarch (p.
Biden also said he was concerned about "the potential rise of a tech industrial complex" that could pose real dangers for the US, citing a "concentration of technology, power, and wealth."
Sermon 126: On the Danger of Increasing Riches - Psalm 62:10, Bristol, 21 September 1790; Sermon 127: Trouble and Rest of Good Men - Job 3:17, preached at St. Mary's in Oxford on Sunday, 21 September 1735 and published at the request of several of the hearers [10] Sermon 128: Free Grace - Romans 8:32, Bristol, 1740