The resurgence of oligarchies over the past 50-60 years has eroded middle-class stability and concentrated wealth in the hands of a global elite. Factors like deregulation, weakened progressive taxation, globalization, and technological monopolies have fueled this trend. Addressing it requires bold action, including reinstating progressive taxation, strengthening antitrust laws, and supporting organized labor.
An oligarchy concentrates power in the hands of a small elite, who dominate economic, political, and social systems to serve their interests. This article explores the traits of oligarchies, their historical roots, modern examples, and their consequences for society, while highlighting solutions to curb their influence.
Historically speaking, social exclusion was first linked with the concept of poverty as poverty was believed to be the cause of a group’s inability to fully integrate and function within society. Poverty was initially measured in absolutes, meaning that there was a specific monetary threshold below which an individual or group was considered to be…