Thursday, April 17, 2014
O is for Oligarchy
Democracy is defined as a system of government by the whole population or all the eligible members of a state, typically through elected representatives (Google search). While America was founded on the premise of the democratic belief, there is now scientific data compiled that the U. S. is actually a Oligarchy. Oligarchy is defined as a small group of people having control of a country, organization, or institution (Google search). The scientific study comes from Princeton, the study explains the pain staking process that the researchers conducted, compiling data over years of research. I would implore you to read the article here. The argument is that America is no longer a Democracy, that we are now within the realm of "an oligarchy", the article further explains that "an oligarchy is a system where power is effectively wielded by a small number of individuals defined by their status called oligarchs. Members of the oligarchy are the rich, the well connected and the politically powerful, as well as particularly well placed individuals in institutions like banking and finance or the military" (McKay, 2014).