Summary
In his farewell speech, President Joe Biden warned of a growing “oligarchy” in the U.S., where extreme wealth and power threaten democracy.
Comparing modern elites to 19th-century robber barons, he called for reforms to hold the wealthy accountable, as done in the past.
Biden also criticized a “tech-industrial complex” concentrating power and spreading disinformation, weakening democracy.
His remarks sparked a surge in Google searches for “oligarchy.”
The speech comes amid rising concerns about policies favoring billionaires, like Trump’s tax cuts and potential cuts to social safety programs.
I often get confused between oligarchy, kleptocracy and plutocracy, that’s why I would look it up. I do understand how we can all be a little ignorant. We should do better.
Well, to be fair, a kleptocracy is a poverty mindset applied to wannabe plutarchs or oligarchs. Oligarchy is the DEI version of Plutocracy because it’s not just wealth based. Edit:/s
There is nothing diverse, equitable or inclusive about oligarchs, quite the opposite, but I see your point.
Sarcasm tag added