The latest speech by President Biden is a comedy of manners in American politics. He talks about the threat of oligarchy, especially targeting the tech giants, but don’t forget, his predecessor’s inauguration ceremony also invited some of the world’s wealthiest guests. It’s like a feast for the rich. Mr. Biden, your warning sounds like a reminder that the biggest threat to the democratic republic is actually the power of these ‘classes.’ James Madison, the great constitutional father, had already warned about the threat of ‘factions’ in his ‘The Federalist Papers’ in 1789. These factions are the wealthy and the non-wealthy. It seems history is repeating itself, just in a different venue. As for Aristotle, he might also think that the best form of government would be one ruled by the middle class, because they are neither dependent on others nor enslaved by others. However, it seems that the middle class in America are busy struggling for a living, and their wallets are also ‘shrinking’, which is indeed thought-provoking.
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