A Tour Against Oligarchy

The word “oligarchy” is appearing more often in political debate, from Washington to Kyiv, Moscow and Jakarta. It describes more than an academic concept, this commentary argues. It captures a harsh reality in which democracy may remain visibly alive while its spirit becomes increasingly paralyzed.

Derived from the Greek words for “few” and “to rule,” oligarchy refers to political and economic power concentrated among a small group of elites. In the United States, progressive Senator Bernie Sanders has taken the issue on the road with his “Fighting Oligarchy Tour,” seeking to raise public awareness about what he describes as the capture of democracy by corporate billionaires.

Sanders says the United States is losing its soul and warns, “We must not become a nation governed by billionaires for the benefit of billionaires.” The article presents that message as a protest against “extreme capitalism,” in which the wealth of the richest 1 percent can shape the economic and legal structure. It cites Oxfam International data from 2024 saying the five richest billionaires now hold wealth equal to that of the poorest 4.7 billion people worldwide.

The commentary portrays Wall Street as more than an economic symbol. It calls it a center of power capable of influencing who reaches the White House, arguing that political campaigns cannot escape large sums of money. Loose campaign-finance rules allow corporations to become what the article sarcastically calls “donors to democracy,” using money to buy influence. Sanders’ tour, it says, seeks to return democracy to ordinary people.

Ukraine represents another form of oligarchic power, the article says. Since the Soviet Union collapsed, major business figures have controlled energy, mining and media, funded political parties and shaped news narratives. Citing a 2023 Carnegie Europe report, it says Volodymyr Zelenskyy rose to power with support from media owned by Ihor Kolomoisky, a controversial gas and banking oligarch. The article then turns to Indonesia, asking whether oligarchy has taken root there in a softer form with the same influence. It argues that oligarchy is not a question of one country, but of how wealth is used to control public debate, policy and belief.

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We must not become a nation governed by billionaires for the benefit of billionaires.