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Nearly all modern Western-style democracies function as some type of representative democracy: for example, the United Kingdom (a unitary parliamentary constitutional monarchy), Germany (a federal parliamentary republic), France (a unitary semi-presidential republic), and the United States (a federal presidential republic). [2]
“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 and the dangerous ...
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.
The term oligarchy refers to a government that is run by a handful of people, often for their own gain. The president went on to say there could be "dangerous consequences if their abuse of power ...
Some historical examples of oligarchy include the Roman Republic, in which only males of the nobility could run for office and only wealthy males could vote, and the Athenian democracy, which used sortition to elect candidates, almost always male, Greek, educated citizens holding a minimum of land, wealth and status.
The American ‘oligarchy’ Biden denounced as a threat to democracy gained $1.5 trillion in net worth during his term Marco Quiroz-Gutierrez January 17, 2025 at 3:33 AM
President Biden is warning Americans about the threat of an "ultra-wealthy" "oligarchy," but did not mention in his farewell speech the billionaires that have supported him in recent years.
The "iron law of oligarchy" states that all forms of organization, regardless of how democratic they may be at the start, will eventually and inevitably develop oligarchic tendencies, thus making true democracy practically and theoretically impossible, especially in large groups and complex organizations. The relative structural fluidity in a ...