‘Ukraine’s Path to Oligarchy: Lessons for the U.S.?’


This post is by Mark Thoma from Economist's View


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After explaining why he believes Ukraine is an oligarchy, Berkeley's Yuriy Gorodnichenko says:

…One may draw parallels between the U.S and Ukraine but frankly, relative to Ukraine, the U.S. seems far from an oligarchy. However, certain recent developments do make me somewhat concerned. For example, income inequality has been rising rapidly over the last three decades, the influence of the rich and of corporations on electoral outcomes appears to be increasing, and the political process strikes me as increasingly dysfunctional. But the U.S.’s history of fighting corruption and the tradition of a free and oppositional press are powerful counterforces to oligarchy. Or so I hope.

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