Former President Biden seems to have spoken the truth about political power in his country at least while leaving office.

Giving a farewell speech while demitting office on 20th January 2025, outgoing US President Joe Biden said: “I want to warn the country of some things that give me great concern. And this is a dangerous concern. And that’s the dangerous concentration of power in the hands of a very few ultra-wealthy people,” Biden said. “Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead

President Biden held public offices for several decades and in fact presided over the USA and ought to have known about the concentration of power in the hands of the ultra-wealthy for a pretty long time. Nevertheless, he seems to have spoken the truth about political power in his country at least while leaving office.

Extreme concentration of wealth in the hands of a few also leads to concentration of power in the same hands. This concentration of wealth and power, actually ensures that “democracy” or political rights of the majority of the people, as well as other basic rights and freedoms, are threatened. Supporters of the existing political systems in the USA and India strongly claim that the will of the people is actually exercised in these systems. But in actual fact, the only real right that people in India for instance have is to push a button once every few years.

The concentration of wealth in India is far worse than it is in the USA, with the top 1% owning over 41% of the wealth in India while the top 1% holds about 34% of the wealth in the USA. So, if anything, the “extreme wealth, power and influence that threatens democracy, basic rights and freedoms” that President Biden spoke of ought to be much worse in India than in the USA!

As Lok Raj Sangathan and several other organisations that are working for empowerment of the people have been pointing out for several years, the common people are totally powerless. They have no control over the “representatives” whom they elect. These “representatives” do not represent the will of the people but are forced to toe the line of the political parties which gave them a chance to contest the elections. The political parties in turn are financially and otherwise totally dependent on the superrich, who not only provide money for election expenses but also for much else. It’s no surprise that the major political parties therefore dutifully carry out the bidding of the ones who control the purse strings.

In the 76th year of the Indian Republic, the effects of the extreme and ever increasing concentration of wealth and political power in the hands of a few are there for everyone to see. The vast majority of people of this country are living in poverty. The youth have no future to look forward to. Women are living in fear. Meanwhile the superrich are getting richer and more powerful.

It is of course not sufficient merely to understand the reason why people are politically powerless and getting increasingly marginalised. Having understood this, it is necessary to think about changing the situation in favour of the vast majority of the people and to take concrete steps in that direction. The majority, which is currently deprived of political power must take political power in its own hands for the first time. Only then can the vast majority ensure that its’ own economic, cultural and political interests are safeguarded and advanced. This will be a complete contrast with the current system wherein it is only the interests of a handful of superrich, who currently lord it over everyone else, is paramount.

By BA and Venkatesh Sundaram

By admin

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