Part 4/11:
As outlined by Aristotle, oligarchy exists wherever men rule by reason of their wealth. Therefore, anyone accumulating sufficient wealth to exert political power qualifies as an oligarch. Notably, unfair monopolization of wealth or corruption is not a requisite for the label; it simply pertains to the ability to hold political influence through wealth. In light of this definition, both Steve Bannon’s characterization of Michael Bloomberg as an oligarch and the counterargument of an interviewer miss the mark; wealth can empower political influence, thus solidifying an oligarchic structure.