I read an excerpt from Simon Johnson’s article, “U.S. Oligarchs and their Minions”. The article basically states that one possible outcome that can occur if, this financial crises prolongs in a certain way, is the reign of an Oligarchy. Now, the definition of an Oligarchy is a form of government where power effectively rests with a small elite segment of society distinguished by royal, wealth, family, military or religious hegemony. Of course if this transition happens, it will not be so evident, as in the public will not be able to tell much difference from the way it was before. It will only be evident to those in position of power. The article also touches on the controversial issue of whether the United States is an Oligarchy already, which many believe this to be true.
If this is true, that the United States is in fact an Oligarchy, it means that the country is ultimately controlled by a small elite at the very top. Which means that “democratic machines”, such as a presidential election, is nothing more than an illusion made for the public to practice their democratic rule. Where in fact, the outcome of the election is already known long before and is just used to preserve image and control. In my opinion, I do believe the America is an Oligarchy that is controlled by the power of the elite and has been for a very long time, if not since the birth of the country.
http://forestpolicy.typepad.com/economics/2009/03/us-oligarchs-and-their-minions.html
