Is the United States turning into an oligarchy?

Oligarchs in the United States: myth or reality? In recent years, we have increasingly heard about a transformation of the United States from democracy to oligarchy. This concern unites politicians of all sides and reflects a growing collective anxiety about the power of the super-rich. But what does “oligarchy” really mean, and is the United States really following this path? The term "oligarchy" comes from ancient Greece and, according to Aristotle, occurs when the rich rule, no matter how they obtained their wealth. It is therefore not just a matter of having a lot of money, but of being able to use it to influence or dominate politics. Today, the debate is centered around the great American billionaires who, thanks to their fortunes, manage to finance election campaigns, influence laws, or even promote their own candidacies, effectively bypassing the power of the individual citizen. However, not all rich people are oligarchs. It is the concrete possibility of buying political influence that distinguishes the oligarchy from the simple economic elite. Not surprisingly, academic research indicates that only a small segment of the top 0.1% of the population has enough resources to actually shape the political landscape. But the fact that oligarchs exist does not automatically transform an entire nation into an oligarchy. The real question is: how much effective power do these individuals have over democratic institutions and control mechanisms? In the United States, the rules, the division of powers, and popular participation, although imperfect, still place limits on the desires of individual super-rich individuals. There are different models of oligarchy in the world, each with unique characteristics. In some countries, the super-rich govern directly, in others, as in the United States, they act more behind the scenes, trying to defend their privileges mainly through pressure to keep taxes low and influence public policies without exposing themselves to the risk of expropriation or violent retaliation, as happens in more authoritarian systems. The real risk, according to many observers, is that the system may slip into a situation where the power of the economic elites becomes increasingly direct and less controlled by the law. Some signs raise fears of this drift: the growing influence of billionaires on the media, elections, and economic policies; the progressive erosion of control mechanisms; and the risk that the law will become a tool in the hands of the most powerful. Yet, history shows that oligarchies are vulnerable, especially in times of crisis. In the United States, in the past, major economic catastrophes and wars have led to a strong limitation of the power of the rich, with high taxes and new rules. Today, however, globalization and the ease with which wealth can be moved abroad make it more difficult to repeat those successes without international cooperation. Ultimately, the United States is at a crossroads: it risks slipping into a more pronounced form of oligarchy, or it may witness a public reaction that calls into question the role and power of the super-rich. The tension between democracy and oligarchy is one of the great challenges of our time, and observing how it evolves will be crucial for the future of American society – and beyond.