Ever since the Ukraine invasion provoked sanctions against Russian oligarchs, it seems everyone is asking: Who is an oligarch? And why do Americans feel comfortable employing the term to describe Russian billionaires while many recoil at the thought of labeling U.S. billionaires the same?
Could it be the pervasive belief that American billionaires earned their fortunes via the competitive free market, while those in Russia got rich through theft? Or could it be that we view Russia as a uniquely authoritarian state that grants its affluent special privileges and undue influence over public policy and the political system?
To get some expert insights, Institute for Policy Studies researcher Omar Ocampo interviewed Jeffrey Winters, author of the 2011 award-winning book Oligarchy and Director of the Equality Development and Global Studies program at Northwestern University.
This conversation has been edited for length and clarity.
Omar Ocampo: Let’s start with the basics: How do you define oligarch and oligarchy?
Jeffrey Winters: An oligarch is someone who is empowered by wealth. This differentiates them from someone who is empowered by political office. An individual who occupies the presidency of a state is a tremendously empowered person compared to ordinary citizens. They can set in motion all kinds of things, …read more
Source:: Institute for Policy Studies
