On January 15, US President Joe Biden gave an impassioned farewell address from the Oval Office, marking the end of five decades in political life. In an address heavy on emotion and symbolism, Biden expressed profound concern about what he described as the “dangerous concentration of power” in the hands of a tiny group of ultra-high-net-worth individuals. It sounded almost like an indictment of the cabinet of the President-elect Donald Trump, just a few days ahead of taking office, given the slew of rich faces.
Biden labeled what is developing in America as an oligarchic structure and warned that this direction promises to be pernicious to democracy and the basic rights of citizens. “Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that really threatens our entire democracy, our basic rights and freedom, and a fair shot for everyone to get ahead,” he said, underlining the importance of vigilance against such disparity.
As Biden stepped away from the presidency, his words rang loud with a challenge for Americans to stay conscious of and work against concentrated wealth and power in their effort to shape the future of the nation.
