Such states are sometimes controlled by households who cross their influence from one era to the subsequent, however inheritance isn’t a necessary situation of oligarchy. Korten critiques present methods of financial development led by the Bretton Woods establishments and asserts his want to rebalance the power of multinational corporations with concern for environmental sustainability and what he phrases “individuals-centered development”. Economists have additionally suggested that free market economies are likely to drift into monopolies and oligopolies because of the greater efficiency of larger companies (see economies of scale).
When the Nobel-Prize profitable economist Joseph Stiglitz wrote the 2011 Vanity Fair journal article entitled “Of the 1%, by the 1%, for the 1%”, the title and content material supported Stiglitz’s claim that the United States is increasingly ruled by the wealthiest 1%. Some researchers have stated the US could also be drifting in the direction of a type of oligarchy, as … Read More