Defining Oligarchy: The Fusion of Wealth and Power in American Democracy

Oligarchy is being thrown around a lot these days. But what does the term mean? Is America an oligarchy? And how does oligarchy help explain American democracy today?

Political rhetoric scholar Luke Winslow, Ph.D., associate professor of communication at Baylor University and author of  “Oligarchy in America: Power, Justice, and the Rule of the Few,” has traced the evolution of oligarchy in the United States to shed light on how modern oligarchy is reshaping America through the increasing fusion of economic power and political influence.

Winslow’s research focuses on how the influence of oligarchy has impacted American political rhetoric, as well as how it is showing up in modern politics and political communications.

Defining Oligarchy

Oligarchy is a term that most people associate with other countries, but it “is not something that just happens in Russia. It's something that happens everywhere, and it always has,” Winslow said. In the simplest of terms, oligarchy attempts to explain the convergence of economic and political power.

Winslow offered four key distinctions on oligarchy:

• Oligarchy is exclusive. It represents a form of governance focused on preserving the political and economic influence of the wealthy by securing the approval of the rest of the population. “It assumes not everyone is qualified to deliberate, participate and legislate,” Winslow said. When it comes to oligarchy, there is a belief that extreme wealth is equated to intellectual fitness across all domains, including governance.

• Wealth vs. income. It is important to distinguish between wealth and income. Income covers daily expenses, whereas wealth is more easily used to exert political power. “What truly sets an oligarch apart is the political power their wealth can command,” Winslow said.

• Understated and subtle. Modern oligarchy operates through persuasion by “enticing rather than commanding citizens and maintaining what seems like an absence from political authority,” Winslow said. It is in this absence that oligarchs can influence indirect political actions, especially since they are not (typically) elected officials and cannot be removed from office.

• Legal Immunity. Oligarchs have no fear of legal consequences because oligarchy itself is not against the law, Winslow said. The First Amendment protects the right “to petition the Government for a redress of grievances,” legitimizing lobbying and campaign donations. A robust system of campaign contributions and political lobbying – both of which are perfectly legal – can shape media narratives and put pressure on state and local governments.

While wealth and politics have always coexisted, oligarchy is about how these forces merge to create a system where the ultra-rich exert undue influence over democratic institutions, Winslow said. “This convergence has long existed in history but is now unfolding in the U.S. more visibly – and perhaps more accepted – than ever before,” he said.

Communication of Oligarchy

Winslow’s research shows that American society has come to view billionaires as transcendent figures – individuals whose success in business qualifies them to lead in politics – a mindset that is not new.

The Gilded Age of the late 19th century saw figures like Andrew Carnegie and John D. Rockefeller wield enormous economic and political power, shaping legislation to favor their interests. Winslow’s research traces this historical precedent, suggesting that today’s tech titans are the latest iteration of a long-standing trend.

Perhaps the most intriguing question Winslow raises is not just how oligarchy and its fusion of wealth and governance has taken root, but why the American public has been so willing to accept it as natural – perhaps even beneficial.

“The arguments being made in public discourse encourage us to go along with it,” he said. “We’re being told, implicitly, that this is just how things work now.”

Yet, these practices also reveal how the government serves the narrow interests of the ultra-wealthy, diverting resources from productive economic opportunities for the majority toward political wins that benefit a small, affluent minority, Winslow said.

“What's so interesting about oligarchy now is that the cover has been ripped off, the veil has been thrown open and we’re not even hiding the fact that money gets you more influence,” he said.

Ultimately, Winslow hopes his work will get people to be curious as to why Americans are now accepting oligarchy in the U.S.

“The ways that the extremely wealthy are yielded political power is seemingly acceptable now, and that is a question that we all should be asking,” Winslow said.

Looking to know more? Then let us help.

To connect with Luke Winslow, simply contact Shelby Cefaratti-Bertin, M.A, Assistant Director of Media and Public Relations now to arrange an interview today.