Russia is an oligarchy? That is a country governed by a small, wealthy elite.
The wealthiest 10% of Russians hoard 74% of all Russian wealth, with two thirds of that held by the top 1% alone. The poorest 50% struggle with just 3% of Russian wealth.
The Russian government holds elections, but controls which candidates can stand. It also controls the media, controls the advertising and controls the vote counting. So, it’s no surprise that Putin and his cronies have won every election this century.
What is surprising is that in the US, the poorest 50% of Americans share just 2.5% of US wealth, while the wealthiest 10% have hoarded 68.3%. Almost half of that is held by the top 1%.
Those figures look very similar to Russia. Despite the fact that the US is clearly a democracy. Like Russia, there are regular elections, but unlike Russia, different parties, and occasionally independents, win those elections.
So what gives? Why are voters using democracy to elect what amounts to an oligarchy?
While the oligarchs don’t directly control the elections like in Russia, they do the next best thing.
Most of the US media is owned by wealthy owners. The media can effectively control the truth and persuade their viewers of what to believe.
And during election campaigns, the wealthy can spend as much money as they want promoting their preferred candidates. We may kid ourselves that advertising doesn’t influence us, but research and the $607 billion spent on US advertising in 2025 tells us it does.
Therefore, while the system looks democratic, the results look very different. The voters pick their leaders, but can only choose from candidates who are funded by the wealthy. Meaning that regardless of who wins, Republican or Democrat, those leaders do what’s best for the wealthiest Americans. In effect, a class of oligarchs.
Russia is clearly an authoritarian oligarchy.
So, is the USA a liberal oligarchy?
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