The news: A new scientific study from Princeton researchers Martin Gilens and Benjamin I. Page has finally put some science behind the recently popular argument that the United States isn’t a democracy any more. And they’ve found that in fact, America is basically an oligarchy.
An oligarchy is a system where power is effectively wielded by a small number of individuals defined by their status called oligarchs. Members of the oligarchy are the rich, the well connected and the politically powerful, as well as particularly well placed individuals in institutions like banking and finance or the military.