Oligarchy effect on politics and society

Liberal critics, like the New York Times columnist Paul Krugman, a Nobel Prize-winning economist, worried that the country was in danger of being transformed from a democracy into a plutocracy, or worse, an oligarchy like Russia, where a handful of extraordinarily powerful businessmen bent the government into catering to them at the expense of everyone else. "We are on the road not just to a highly unequal society, but to a society of an oligarchy...a society of inherited wealth. When you have a few people that...effectively buy the political system, the political system is going to serve their interests." (14)