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Are We on the Brink of a Technocratic Oligarchy in America?
What country fits in the Capitol roundabout? Spoiler alert: it’s a staggering wealth sum hovering between Portugal and Thailand! A jaw-dropping 1.3 billion dollars is what the total household net worth of those countries amounts to. This shocking figure eerily compares to the billionaires who attended Donald Trump’s second inauguration on January 20. Among them? Billionaire moguls like Bernard Arnault and Mukesh Ambani—true titans of their empires—drawing attention away from the real concerns of the American people.
The technological elite—from the likes of Elon Musk, Jeff Bezos, and Mark Zuckerberg—account for a staggering collective wealth of 911 billion dollars, overshadowing the cabinet members seated next to them! This is not just an alarming scenario; it’s an outright warning about the burgeoning influence of these elites in our democracy.
“An oligarchy is gaining shape in the United States,” Joe Biden’s farewell address rang out just days before the ceremony, echoing deeply in the minds of concerned Americans.
Is Trump Handing Control to the Tech Titans?
Alarm bells are ringing across the nation! The German ambassador warned of a “techno-industrial complex that could raise true dangers for our country.” This is more than just speculation; it’s a blatant admission that the Trump administration could dangerously empower these tech moguls.
Despite rampant screams of “oligarchy!” from every corner, consider this: the supposed technological overlords control only 1.8% of U.S. GDP. In contrast, billionaires in Russia wield significantly greater influence—a stark comparison that should unsettle us all. How can we call this an oligarchy when their grip is so feeble?
- Amazon, Meta, and Tesla barely scrape together 3.1% of market share.
- In the tech landscape, competition reigns—from Musk beating Bezos in rockets to Zuckerberg vying for social media dominance.
Tevi Troy’s enlightening work reveals: “Rockefeller had to fight for his voice to be heard.” Are we seeing the same battle today?
The American Resilience to Oligarchs
Americans should remain confident. Unlike in Russia, where oligarchs strangle their economy, the American marketplace thrives with diversity. Amazon’s absence would simply usher in the likes of Walmart to keep everything moving!
So understand this, fellow patriots: while some seek to foster fear over a rising oligarchy, the truth is our economy’s vast dynamism and public scrutiny keep these tech titans from monopolizing power. Support for these elites is waning, evidenced by growing disgust from the public.
Let’s slam the brakes on alarmist rhetoric! The fear of a “technocratic oligarchy” is nothing more than a convenient narrative for those who oppose growth and innovation. We must stand firm, push back against these attacks, and make it known that we will not be held hostage by the wealthy. This is America—a vibrant democracy, not a haven for modern oligarchs!
© 2025 The Economist Newspaper Limited. All rights reserved
Translation: Juan Gabriel López Guix
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