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Oligarchs

In: The Economic Decline of the West

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  • Wim Naudé

    (RWTH Aachen University)

Abstract

After describing who the oligarchs are and how they expand and consolidate their power and influence, this chapter studies how the oligarchy in the West stifles innovation, undermines democratic processes, hinders responses to climate change, and contributes to militarization and conflict. This chapter identifies powerful oligarchies in the oil industry (Big Oil), in finance (The Bankers), in industrial agriculture (The Food Barons), tech industry (The Technofeudalists), and mainstream media (The Media Moguls). It discusses the role of oligarchs in the 2008 financial crisis, the increasingly fragile global food system, and the digital economy. This prepares the reader for a deeper analysis of the role of oligarchs in the oil industry (Big Oil) and in the military and defence industry (The Gun Merchants), which follows in subsequent chapters.

Suggested Citation

  • Wim Naudé, 2025. "Oligarchs," Springer Books, in: The Economic Decline of the West, chapter 0, pages 55-96, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-82299-5_3
    DOI: 10.1007/978-3-031-82299-5_3
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