1. Plutocracy – rule by the wealthy elite or billionaires
2. Technocracy – rule by experts and technocrats
3. Stratocracy – rule by military officials
4. Theocracy – rule by religious authorities
5. Corporate Oligarchy – rule by CEOs and business cartels
6. Criminal Oligarchy – rule by underworld networks or mafia-like syndicates
With the exception of criminal oligarchies, most of these forms have, over the last century, been assimilated—either openly or subtly—into various socio-political and economic systems. Today, nearly every nation exhibits traits of one or more of these oligarchic structures embedded within their governance and societal frameworks.
However, in post-Marxist Russia, a significant departure has occurred: criminal oligarchs have risen to dominate over all other types. This rise can be traced to the collapse of communism, the economic chaos of the 1990s, and the authoritarian consolidation under Vladimir Putin. Within this model, criminal oligarchy became not just influential but foundational. There is widespread belief—especially within Western political discourse—that even American presidential elections have been influenced by these criminal oligarchs, operating under the guise of "Russian influence."
Since the outbreak of the Ukraine war, anxiety among Western neoliberal societies, especially in Europe, has intensified. Many now openly worry about the infiltration of Russian criminal oligarchs into Western economies and business networks. Media and political commentators in these countries have even speculated about a covert alliance between Putin and Trump, with some going so far as to frame Trump as a Putin proxy. While no conclusive evidence has emerged to prove such a direct link, the narrative persists and continues to gain traction in Western policy and media circles.
At the root of this concern lies a deeper fear: that Western democratic capitalism could gradually mutate into a Russian-style criminal oligarchy. This fear isn’t unfounded. Under Trump, and through the influence of a narrow circle of techno-billionaires, America has shown signs of sliding toward a blend of technocracy, plutocracy, and corporate oligarchy. These trends point to a disturbing realignment of American political and economic structures—away from open-market capitalism and toward an increasingly centralised oligarchic power structure.
To evaluate whether a society is becoming oligarchic, five critical questions are often posed:
1. Does a small group of individuals control wealth, politics, and media?
2. Are elections free, fair, and competitive?
3. Can ordinary citizens influence major policy decisions?
4. Is dissent tolerated without retaliation or punishment?
5. Is economic mobility realistically achievable for most people?
By the second term of his presidency, Donald Trump and his inner circle had answered 'yes' to the first question and 'no' to the remaining four—a clear indicator of oligarchic drift. In response, Senator Bernie Sanders launched a public campaign centred on “fighting oligarchs in America,” a message that has increasingly resonated with disillusioned citizens across the political spectrum.
The deeper irony of oligarchy lies in its superficial resemblance to capitalism, while in reality, it undermines the foundational values of a capitalist economy. It:
Transfers ownership from competitive markets to entrenched family
or cartel networks
Replaces the profit motive with power consolidation among elites
Turns open markets into regulated enclaves shaped by backroom deals
Elevates corporate dominance into the unchecked supremacy of a few
oligarchs
Subverts regulation through tariff manipulation and state favoritism
Transforms meritocracy into identity-based preferences (race, class,
gender)
Restricts global free trade in favour of nationalism and protectionism
Among the core principles of American capitalism, the only two that Trump and his circle have not yet targeted directly for dismantlement are consumerism and commodification. These remain intact, largely because they serve as the economic lifeblood of elite capital accumulation.
As a result, Trump’s tenure has hollowed out key structures of American capitalism, replacing them with an increasingly oligarchic model dominated by a small, unaccountable elite. His actions represent a direct betrayal of the philosophical and structural foundations laid by the original architects of American capitalism.
This trend is starkly illustrated by figures like Elon Musk, who—under Trump’s administration—was empowered to act in ways that flout democratic oversight, labor regulations, and public accountability. Musk’s disregard for checks and balances exemplifies the rise of the corporate-criminal hybrid oligarch: one who merges technological dominance with political impunity.
Thus, the historical irony could not be greater: Trump’s far-right business cartel is systematically dismantling American capitalism, while Bernie Sanders—a democratic socialist—is one of its most visible defenders, fighting to protect it from collapse into oligarchic authoritarianism.
Bernie Sanders, acrylic and charcoal on paper.
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