Overview
This article examines whether the United States can be accurately described as an oligarchy, focusing on how concentrated wealth may translate into disproportionate political influence.
Defining Oligarchy
- Oligarchy is defined, using Aristotle’s material-based concept, as rule by the wealthy, regardless of formal office.
- The authors argue oligarchy can coexist with democracy, as wealth alone can confer significant power.
- Oligarchs do not need to hold public office, conspire together, or be highly active in politics to exert influence.
Wealth and Political Power in the US
- Data show US income and wealth are distributed extremely unequally.
- The top tenth of 1% of Americans possesses vast wealth, providing them strong political leverage.
- Material Power Indices are used to suggest that the wealthiest exert far more influence than average citizens.
Mechanisms of Influence
- The wealthy may influence politics through lobbying activities, campaign financing, and shaping public opinion.
- The structure of the US Constitution may also favor the interests of the wealthy.
- These mechanisms can result in policy outcomes that reflect the preferences of oligarchs.
Literature Review Highlights
- Previous studies provide evidence that economic elites often get their policy preferences enacted.
- Mechanisms for elite influence include direct access to policymakers, contributions to campaigns, and media ownership.
Key Terms & Definitions
- Oligarchy — Rule or influence by a small group of wealthy individuals.
- Material Power Indices — Measures that quantify the political power associated with wealth.
- Democracy — A political system where power is theoretically vested in the people.
- Lobbying — The act of attempting to influence government decisions by special interest groups.
- Constitutional Structure — The organization and rules of government as set by the US Constitution.
Action Items / Next Steps
- Review the full article for detailed data and case studies.
- Reflect on how current US policies may reflect the interests of the wealthy.
- Prepare to discuss whether oligarchy and democracy are truly incompatible.