The term 'oligarchy' has emerged in the Democrats' strategy against Trump, highlighted in Biden's farewell address and Sanders' rhetoric. This framing seeks to link Trump’s actions and the influence of billionaires like Musk to broader GOP criticisms. However, this narrative oversimplifies the complex relationship between corporate interests and Trump’s agenda, particularly regarding contentious issues like diversity and inclusion. Many corporate leaders previously supported progressive reforms, and the current backlash against these policies highlights capital’s adaptability. Thus, the 'oligarchy' narrative may hinder more nuanced understandings of today's political landscape.
The Democrats, casting about for an anti-Trump narrative, have found a word: oligarchy. It aspires to fold together President Trump’s self-enrichment, Elon Musk’s influence, and its criticism of the GOP.
Where Trump's most disruptive and controversial policies are concerned, one might call the American oligarchy indifferent, skeptical, or fiercely opposed, especially regarding wokeness and DEI.
Capital, in other words, is flexible. It can be woke or unwoke, depending on the prevailing winds, adapting as necessary to the political climate.
As a narrative for actually understanding the second Trump administration, the language of oligarchy obscures more than it reveals, suggesting billionaires control everything when that’s not entirely the case.
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