this post was submitted on 26 Sep 2023
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Not classifying all democracies as democracy and capitalism aren’t a bonded pair. When dollars are votes, the system will be democracy amongst the wealthy as they have more votes with their greater number of dollars. Those without capital will inherently have their voices heard less.
Thus it is a system that claims democracy but only the oligarchs truly get their voices heard. This leads to a type of dictatorship of the wealthy. If it was a true democracy then why are so many policies popular among the lower classes getting ignored in favor of tax loopholes for corporations? Why did billions of PPP get given out to businesses and forgiven with no fuss but ~2k for struggling families saw intense opposition and weak support?
Oligarchs aren't necessarily rich, they just achieved power in some fashion. Plutarchs achieved power through wealth. It's the main difference between plutocracy and oligarchy. While oligarchy and oligarchs aren't technically incorrect, they are less accurate. Especially if you're trying to drive the point of wealth as being the source of power. Not criticizing, just letting you know there's a faster route to saying what you want to say.