Democracy is a smokescreen used by selfish politicians and wealthy magnates to propagate oligarchy
Oligarchy and democracy are two major systems of government that are quite common around the world. Modern day Russia and the United States of America are two nations that practice oligarchy while hiding under the guise of democracy. Democracy is primarily concerned about the middle-class citizens, while oligarchy is all about the minority, rich few who control all the major aspects of the economy.
“Representative government is artifice, a political myth, designed to conceal from the masses the dominance of a self-selected, self-perpetuating, and self-serving traditional ruling class.”
Giuseppe Prezzolini
In the United States, oligarchy can be traced as far back as the founding fathers. America was founded on the principles of having the minority control the middle class and the lower class. Most of the middle-class Americans did hard manual labor, while the lower class were blacks who were forced into slavery. The few rich Americans corrupted the government, shut down competitors, and created a wide gap between the rich and the poor.
⚡️The primary concern for oligarchy is to enrich its members without paying attention to the middle class.
Over the last decade, an average CEO’s salary has increased by 940 percent, while that of a worker has barely seen a 12 percent increase.
Jamie Dimon, the CEO of JPMorgan and one of the most influential Americans, is a prime example of the kind of power people with money wield.
Dimon is one of the many billionaires around the world who claim to genuinely care about the middle class. He has, on numerous occasions, pointed out the fact that the majority of Americans do not enjoy the value of what they pay to the government. He believes more money and resources should be spent on education and social security. Despite his intentions, however, it’s still evident that he cares more about his own pocket than the people.
Dimon was part of the many CEOs that clamored for the implementation of tax cuts for corporate organizations. These tax cuts take their toll on the American economy, and the US lost up to $1.3 trillion to debt. Despite Dimon’s best intentions for the people, his involvement in the tax cut has put people at a bigger disadvantage.
There are many other CEOs like Dimon who hide under the guise of being interested in the public interest. They preach against socialism by punching loopholes in it, claiming that it works against the people. These sets of executives benefit massively from the oligarchy, as can be seen in the combined strength of the big five American banks who control most of the financial transactions in the US.
Did you know? The Big Five American banks are responsible for around 46% of monetary transactions in the US.