Oligarchy has been a buzzword in media since former President Joe Biden’s farewell speech warning the nation of an oligarchy emerging in the United States. Many do not understand what it is and if it is something to be concerned about.

Britannica.com defines oligarchy as a government that is controlled by a small group of people. Furthermore, it is a type of government that allows only a privileged few with selfish or corrupt purposes to rule. Oligarchies in which members of the selected ruling group are wealthy and exercise their power directly from their wealth are also known as plutocracies.

Plutocracies are governments that only allow wealthy people to rule. It is important to take note that plutocracy does not have to be purposeful, overt government format according to writer Clay Halton with Investopedia. It can give the wealthy access to specific programs and educational resources that could potentially give them more leniency in the democracy that we have in place today. The main concern when these groups of people interfere with the government is that they will be hyper focused on goals that will benefit only the wealthy.

When this type of government is in place there is a lack of accountability and transparency from those in power. Typically, these groups control the government, media, and economy and often abuse their power to their own benefit which would then create a disadvantage to those in the middle and lower classes.

If an oligarchy were to take over a democracy, there would be no checks and balances in the government. They would be in complete control.

Hypothetically, if an oligarchy is to take shape in a current or future democracy – it does not mean that the middle and lower classes should completely lose faith. There are ways to combat these types of systems.

What is in your control:

Accountability. The most effective way to combat a corrupt system is holding politicians and public officials accountable. You can do this by demanding public access to government activities, regular audits, and investigations.

Act. Support free and fair elections, defend press freedom, and uphold free speech. Stand with your local communities and raise awareness about the dangers of oligarchic power.

Fight back. Stand up against suppression and discrimination. Fight for anti-monopoly legislation that ensures fairness among the classes. Challenge corruption in your government. Demand checks and balances to keep power accountable.

Stay educated. Staying informed is the greatest tool. Encourage others to stay informed too and stray away from disinformation. Oligarchies often rely on the ignorance of the public to change polices to their own advantage by pushing disinformation and propaganda. Staying and encouraging others to stay informed inspires them to act too.

Support small business. Hit them where it hurts the most, their pockets. Do not give your hard-earned money to corporate elitists. Supporting small businesses will challenge big corporation owners.

While the concept of an oligarchy might sound impossible, history has proven that it can happen. It is important to recognize the potential risks it poses to a democracy if it were to take place. Awareness helps us continue to be proactive in protecting our current democratic principles and giving power to the people.

By continuing to stay informed on government activities, holding your elected officials accountable, and advocating for policies that promote fairness and transparency in our government, we can continue to ensure that power remains equal and in the hands of the people, and not the hands of the 1% of people that are wealthy.