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By contrast, the affluent elites run downhill as the playing field is tilted in their favor. Today, when working class or even middle class Americans have to compete with the affluent elites, they are not competing on a level playing field. So the first big question we need to address is this: is there a level playing field for the poor and rich? Most Americans believe that they have an equal opportunity to become billionaires. This is also why there is no social resentment of billionaires in America. Many Americans believe that their economic and political systems create a level playing field in which the poor and disadvantaged can rise to the top. The term “level playing field” is absolutely critical here. Equally critically, in terms of the economy, society, and political system there is a level playing field where the working classes, middle classes, and affluent elites compete. What is the actual difference between a democracy and a plutocracy? In a democracy, the masses broadly determine their future. Let’s begin to answer this question from the very beginning. Indeed, this question may well be the most existential question America has to address. You may follow him on Twitter the United States of America still a functioning democracy or has it become, for all practical purposes, a plutocracy? And why is this question important? It’s important because the answer to the question of whether America has a dark or shining future will depend on whether it’s a democracy or plutocracy. This essay contains excerpts from his latest book Has China Won? (2020). Kishore Mahbubani is a Distinguished Fellow at the Asia Research Institute of the National University of Singapore. The primary goal of a democracy is to ensure that the leaders govern through fair representation.Democracy or Plutocracy? - America’s Existential Question In such a system, people have the right to vote for any party or political representative to bring them to power. The people play a crucial and deciding role in the process of forming the government. In a democracy, the country’s people are involved in selecting its leadership or head. Also, the post of the monarch is hereditary.Īnd then there is Ukraine, which has been hailed as a country that is bravely fighting to preserve its democracy. In such a system, the monarch’s power is not limited by laws or legislation.
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In an absolute monarchy, a family or a group of families, also called royalty, rules the country. Some examples of absolute monarchy are Saudi Arabia, Oman, and Brunei. Here, the dictator is quite often a high-ranked military officer.Īutocracy also includes absolute monarchy. On the other hand, in a military dictatorship, the military exerts complete or at least substantial control over political authority in the country. Here, the ruling dictator does not derive his power from the military.
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One is a civilian dictatorship and the other is a military dictatorship like the one we saw in Pakistan on several occasions.Ĭivilian dictatorship is a form of governance where absolute power is in the hands of a civilian. In an autocracy, the supreme authority or power to rule is in the hands of one individual or entity.Įxternal authorities and even the people have no say in the decisions taken by said individual or entity.Īutocracy includes dictatorship.
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Russia is also categorised as an autocracy in some quarters. And then there is technocracy, a system where technical experts or educated people rule. Then there is plutocracy, a system where the wealthy rule. Take the example of an aristocracy, which means a system where the nobles rule. Especially those who are close to President Putin. In the Russian context, western media uses the term oligarch to refer to very rich Russian business leaders who have a great deal of political influence. And, these people in power, in turn, are known as oligarchs. It comes from a combination of the word ‘olígos’, which means ‘few’, and ‘arkho’, which means ‘to rule or to command’.Īny societal power structure where the ruling power lies in the hands of a small number of privileged people can be broadly categorised as an oligarchy. But what exactly is an oligarch? The word oligarchy has Greek origins.
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