The return of plutocracy: Billionaries take over politics!

The return of plutocracy: Billionaries take over politics!

The world is head: billionaires take over!

In a shocking turn of global politics, we experience how the power of billionaires increases not only in authoritarian governments such as in Russia and China, but also in liberal democracies such as the USA and India. Where did the days have stayed when we thought that democracy and prosperity go hand in hand? Now it's the super rich who pull the threads!

Donald Trump, the master of provocation, has put together his "Billionaire Boys Club". At his side there are giants like Elon Musk and Howard Lutnick. These mighty men are intended to lead the newly founded "Department of Government Efficiency", with the aim of deleting incredible $ 2 trillion in "wastage". A huge plan that could turn the balance of power upside down in the USA!

The shadows of plutocracy

But that's not all! Prime Minister Narendra Modi also shaken hands with billionaires such as Mukesh Ambani and Gautam Adani in India. Your goal? Create a "business -friendly" environment that further fills the health insurers of the rich and enlarges the gap between poor and rich. This development is not just a national phenomenon, but runs like a thread through many countries, including Brazil, South Korea and Turkey.

The world has changed: the neoliberal economy, which was once considered a solution to social problems, gives way to a neo-feudal system in which a small elite of billionaires decides on the fate of an ever increasing lower class. Jodi Dean aptly describes it: "A few billionaires, one billion precarious workers."

Inequality shoots up! The income gap has been dramatically opened since the 1980s. In countries such as the USA, China and India, the gap between poor and rich is larger than ever. In India, the difference between the rich and the poor is now even greater than during the British colonial era!

The platform economy: a new age of exploitation

A particularly disturbing example of this neo-feudal development is the platform economy. Companies such as Apple, Google and Uber have developed into real money machines while relying on the exploitation of workers. These companies make their owners (centi) billionaires by relying on inexpensive workers and government tax incentives.

The interweaving of politics and business is becoming increasingly clear. Trump, Musk and Co. present themselves as "representatives of the people", but their politics primarily serves to grow their own companies. Tax cuts, attractive incentives for companies and the reduction of environmental and investment regulations are at the top of their agenda.

If we look into a future in which neo-feudal structures gain the upper hand, the question arises: do we control an authoritarian wave? Could it be that the authoritarian systems in Russia and China are not the exceptions, but the model for the liberal democracies of the future?

The views in this article reflect the opinion of the author and do not necessarily correspond to the editorial attitude of al Jazera.