Do the people still rule democracy, or has it become ruled by the wealthy? With the billions of dollars being used to launch political campaigns, dominate the media, and determine the course of public policy via smoke-filled rooms, the notion of democracy as a power to the people is dying a hell of a quick death. Citizens exercise their vote to right every few years, though, in fact, the power usually belongs to those who simply pay to have a key position, not win it over people, as demonstrated in a landmark study by Gilens and Page (2014).

Democracy is slowly becoming an instrument of the wealthy, by the wealthy, and for the wealthy.

Democracy is also increasingly hollowed out as capitalism, unchecked by democracy, is being turned into a system where the interests of the well-off elites uphold systems, a reality critically explored by Noam Chomsky in Requiem for the American Dream.  We are facing a thoughtful reality today: Democracy, which was supposed to be an image protecting equality, is slowly becoming an instrument of the wealthy, by the wealthy, and for the wealthy.

Tying our arguments to a historical picture, we saw a notable rise of democracy and capitalism in the West, especially after World War II.  Capitalism had generated wealth, while democracy was supposed to disperse the political power equally. This coexistence seemed to reach a balance at a certain point, especially during the post-war period, where there were healthy unions, social security, and government institutions that restrained corporate greed.

Nevertheless, since the 1980s, when neoliberalism, deregulation, and globalization had emerged, capitalism started expanding the conventional borders of democracy. This led to the growth of a small upper crust faster than the rest of the society. There was political power also with that wealth, and there was a betrayal of the democratic promise. Although the average citizen continues to vote, it is the billionaire who dines with the president, contributes money to the campaign, owns the media networks, and dominates what items are on the national agenda. Political equality is no longer valid where money is a means of access and the end result in the world.

Capitalism dominates democracy; it is notable in the 21^st century because elites always rule. The most sophisticated and legal tools to dominate democracy are used by the rich. First of all is campaign financing in the United States, the 2010 Citizens United Supreme Court saw the floodgates open on corporate patronage in elections. This enables the billionaires and the interest groups to have a high impact on the outcome of the election with impunity. It makes the politicians reliant on the donors, rather than the voters. Next is the lobbying, as it is a multi-billion-dollar business whereby corporate agents and former legislators draft the laws that aim to govern them.

Campaign financing, lobbying, and media ownership empower elites to shape policies and elections.

Lobbying in the pharmaceutical industry, fossil fuels, tech industries, and other sectors, so that people no longer come first in terms of policy by the government. Another weapon is the ownership of the media. In case of a few tycoons dominating the information streams, it is possible to manipulate public opinion, stifle voices of dissent, and present the corporate issue in the light of national interest. In most nations, including India and the U.S., the media does not seem to be a watchdog, but a megaphone of the elite society.

Last but not least is the policy capture, or when the government forces tax cuts on the wealthy folks, and deregulates business, privatization state-owned resources, and demands austerity on the underprivileged with the excuse of financial responsibility. Such systematic discrimination promotes inequality and further isolates the working and middle classes.

The legal and institutional tools used by powerful elites to enhance their dominance and suppress genuine democratic participation impose serious social costs. Vitally needed services such as healthcare and education conditions worsen at the same time when public funds are diverted to corporate subsidies and the military. The inequality increases, social mobility decreases, and the rich stay rich. Having lost hope in a system that only takes care of the wealthy, the biggest part of them, in particular, the youth, find elections pointless to vote in.

This alienation only renews a sense of apathy, populism, and dictatorship, which undermine confidence in the institutions and the spirit of democracy, thus rendering the societies weak and prone to collapse.  This pattern of democratic declines and elite hegemony is not limited to but resonates in transcending walls, and the world is caught in a global crisis in delegative governance.

This is not erosion of democracy in the West only. In India, there are strong business groups that control elections, media, and policy. In Pakistan, the present system with a declared democracy is controlled by feudal lords and the urban elites. In most developing nations, politics is indeed the reserve of the elites in society. Even international organizations such as the IMF and the World Bank, which were supposed to fund development, have now become what we refer to as the issue of reforms, where they are interested in who has come to invest.

Political equality erodes as wealth buys influence, marginalizing ordinary citizens.

This global tendency of the rule of elites requires not only criticism but also dynamic, popular pressure to restore and reconstruct democracy. A decline of democracy is hard to reverse but viable. The important measures involve the reform of political financing with a prohibition of corporate contributions and the transparency and openness of the election funding. The practice of lobbying ought to be regulated to the letter, and distinct lines drawn between the business and the government.

\Wealth taxes are progressive and, therefore, needed to decrease inequality and renew public services. No less important is the reform of the media in general, which encourages an independent media and the voices of different people. Rebuilding democracy at the grassroots is possible by reinforcing citizens’ education, labor unions, grassroots networks, and communal organizations to recapture power previously held by old elitism.

Capitalism does not always lead to democracy. Without being regulated, capitalism destroys all democratic principles, turning a system that is supposed to speak up on behalf of the people into a system that works and defends the interests of elites. When we imagine or dream of a future in which the voices of the people will matter even more than those of corporations and where the power will be supported by ideas, but not the legacy, then we need to act as urgently as possible.

Rebuilding democracy requires reforms in finance, lobbying, media, and grassroots empowerment.

While Abraham Lincoln had described democracy to be the government of the people, by the people, and to the people, the matter of the day is turning out to be the government of the rich, by the rich, and to the rich. Taking back democracy is not just about the ballot box; it has to do with transforming the economy itself so that it serves not only a few but millions and millions of people.

Disclaimer: The opinions expressed in this article are solely those of the author. They do not represent the views, beliefs, or policies of the Stratheia.