Very interesting, well written article. Is there any generally accepted definition of "oligarch"? All of the oligarchs mentioned in the article are very wealthy, influential and powerful (some, but not all, are politically powerful). But presumably not all wealthy, influential and powerful people are oligarchs. Would the following be considered oligarchs: Warren Buffet? Mark Cuban? Nancy Pelosi? Illinois Gov. JB Pritzker? Mark Zuckerberg? George Clooney?
Thanks, Curt. In our research we use an updated version of Aristotle's definition. Oligarchs secure and reproduce wealth and power, then use one to acquire the other. You are right that not all wealthy people are oligarchs, because their power is quite limited. Larry Ellison is a good example. Of the list you provided, Zuckerberg and Pritzker are clearly both very wealthy and quite powerful, albeit in different ways, and would meet the definition.
Unfortunately I'm not familiar with your book, so perhaps it's explained elsewhere, but I'm having a difficult time getting past you repeatedly pointing to the famously low profile and apolitical Larry Page as an American "oligarch" in the same breath as Elon Musk, Ivanishvili and Trump. Doesn't there need to be some other dimension to what an "oligarch" is besides massive wealth? And while Google has certainly changed society, there's little (that I'm aware of) to show that Page is trying to directly influence and direct society the way Musk has. And while there might be bright futures for some "Tech Bros," the examples of Arkady Volozh and Oleg Tinkov, who both lost almost everything, suggests wealth and products that change the way people live and think, aren't necessarily power. Do you see any "new style" oligarchs emerging in Eurasia?
Thanks for this comment, Mitch. Valentina and I actually characterize Page as one of the most consequential oligarchs of our time. Through his control of Alphabet/Google, he holds the most impactful type of power: the ability to shape how all of us think and act. Shoshana Zuboff has written about this extensively. We agree with you that some tech bros have fallen from grace, and that not all tech products have the power to shape how we think and act. But for every Volozh and Tinkov, there are also Milners and Durovs who have substantial power of differing levels and types.
Very interesting, well written article. Is there any generally accepted definition of "oligarch"? All of the oligarchs mentioned in the article are very wealthy, influential and powerful (some, but not all, are politically powerful). But presumably not all wealthy, influential and powerful people are oligarchs. Would the following be considered oligarchs: Warren Buffet? Mark Cuban? Nancy Pelosi? Illinois Gov. JB Pritzker? Mark Zuckerberg? George Clooney?
Thanks, Curt. In our research we use an updated version of Aristotle's definition. Oligarchs secure and reproduce wealth and power, then use one to acquire the other. You are right that not all wealthy people are oligarchs, because their power is quite limited. Larry Ellison is a good example. Of the list you provided, Zuckerberg and Pritzker are clearly both very wealthy and quite powerful, albeit in different ways, and would meet the definition.
Unfortunately I'm not familiar with your book, so perhaps it's explained elsewhere, but I'm having a difficult time getting past you repeatedly pointing to the famously low profile and apolitical Larry Page as an American "oligarch" in the same breath as Elon Musk, Ivanishvili and Trump. Doesn't there need to be some other dimension to what an "oligarch" is besides massive wealth? And while Google has certainly changed society, there's little (that I'm aware of) to show that Page is trying to directly influence and direct society the way Musk has. And while there might be bright futures for some "Tech Bros," the examples of Arkady Volozh and Oleg Tinkov, who both lost almost everything, suggests wealth and products that change the way people live and think, aren't necessarily power. Do you see any "new style" oligarchs emerging in Eurasia?
Thanks for this comment, Mitch. Valentina and I actually characterize Page as one of the most consequential oligarchs of our time. Through his control of Alphabet/Google, he holds the most impactful type of power: the ability to shape how all of us think and act. Shoshana Zuboff has written about this extensively. We agree with you that some tech bros have fallen from grace, and that not all tech products have the power to shape how we think and act. But for every Volozh and Tinkov, there are also Milners and Durovs who have substantial power of differing levels and types.