In a country where political decision-making is often shaped by corporate lobbying, think tanks, and elite donors rather than the will of the broader public, Joe Biden has reignited the debate on the illusion of American democracy.

“Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead […]  The consequences would be dangerous if their abuse of power is left unchecked.”

This discussion explores the theoretical foundations of democracy, oligarchy, and plutocracy, drawing on political science research to assess where the U.S. falls in practice.

Definitions of Democracy, Oligarchy, and Plutocracy

In political science, societies and governments are classified based on how power is distributed and who controls decision-making. The three main concepts relevant to this discussion—democracy, oligarchy, and plutocracy—each describe different forms of power structures:

A system of government in which power is vested in the people, either directly or through elected representatives.

Characteristics: Free and fair elections, political pluralism, protection of civil liberties, rule of law, and accountability of leaders to the public.

Example in theory: The United States, in its constitutional design, is a representative democracy (or more accurately, a democratic republic), where elected officials govern on behalf of the people.

In “Polyarchy: Participation and Opposition” (1971), Robert Dahl defines democracy as a system with broad citizen participation, free elections, and political competition.

He argues that true democracy requires not just elections but also pluralism, civil liberties, and equal political access, conditions that many argue are eroding in the U.S.

A system in which power is concentrated in the hands of a small, elite group, often based on wealth, military control, or institutional influence.

Characteristics: Limited access to political power, decision-making controlled by a select few, and a lack of broad public influence over major policies.

Example in practice: Countries where a small group of business leaders, military elites, or........

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