In his final address from the Oval Office, President Joe Biden issued a stark warning to the American people about the growing concentration of wealth and power in the United States. His concerns echo the cautionary words of former President Dwight D. Eisenhower, who in 1961 warned against the rising influence of the military-industrial complex. Mr Biden’s focus is on the emergence of a “tech-industrial complex” that he argues is eroding democratic values by manipulating information, stoking division, and enabling the abuse of power.

This warning carries a deep resonance in a world where technological giants hold unprecedented sway over both public opinion and policy decisions. Mr Biden’s remarks highlight the tension between the promise of democracy and the reality of oligarchic control. In the face of rising inequality and the growing dominance of a few powerful corporations, democracy risks becoming........

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