The Risk of Oligarchy in Modern Democracies

Outgoing US President Joe Biden warns of an emerging oligarchy in America characterized by extreme wealth and influence. The concern, exacerbated during Trump's presidency, is echoed in other nations like Australia. This trend prompts a reevaluation of democratic institutions to safeguard public interest.

In his farewell address, outgoing US President Joe Biden issued a stark warning about the emergence of an oligarchy in America, one of extreme wealth and influence that threatens democracy itself.

Concerns have mounted around billionaires, like tech moguls visiting Donald Trump post-election, wielding significant sway over public policy.

The situation isn't unique to the US. Australia too faces similar challenges, with affluent media owners influencing policy, underscoring the global need to strengthen democratic institutions and mitigate misinformation.

(With inputs from agencies.)