Outgoing US President Joe Biden warned Americans against the dangers of an “oligarchy” and the “tech-industrial complex“, which he said would “infringe” upon the rights and future of democracy.
While oligarchy represents a system of government in which a small group of rich and powerful people with special connections has all the power, the military-industrial complex is the close relationship between a country’s military, its government, and the companies that make weapons and military equipment.
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During his address in the Oval Office, Biden said there would be “dangerous consequences” if the power “in the hands of ultra-wealthy people is left unchecked”.
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead,” Biden said, drawing attention to “a dangerous concentration of power in the hands of a few ultra-wealthy people. Dangerous consequences if their abuse of power is left unchecked.”
Biden highlighted the 34th US President Dwight Eisenhower to convey his message to the American masses about the military-industrial complex and said that it “could pose real dangers to our country”.
The US President’s warning could be attributed to the developments in recent months when the world’s richest individuals and technology industry titans have openly extended their support, particularly after his November victory, to the next US President Donald Trump.
Billionaire Elon Musk spent more than $100 million on helping Trump get elected, and executives like Meta’s Mark Zuckerberg and Amazon‘s Jeff Bezos have donated to Trump’s inaugural committee and made pilgrimages to Trump’s private club in Florida for audiences with the president-elect.
Avalanche of misinformation
Biden then lashed out at social media firms, with Musk having turned X into a right-wing megaphone and Meta boss Mark Zuckerberg ending fact-checking operations in the US as he courts Trump.
“Americans are being buried under an avalanche of misinformation and disinformation,” Biden by quoted as saying by AFP.
“The free press is crumbling. Editors are disappearing. Social media is giving up on fact checking. The truth is smothered by lies told for power and for profit.”
He further said: “We must hold the social platforms accountable to protect our children, our families and our very democracy from the abuse of power. Meanwhile, artificial intelligence is the most consequential technology of our time, perhaps of all time,” he said.
‘Powerful forces against climate change’
Biden also highlighted the threats of climate change, and said he signed the clean climate law, which is the most significant in history.
“Right now, the existential threat of climate change has never been clearer. Just look across the country, from California to North Carolina. That’s why I signed the most significant climate and clean energy law ever, ever in the history of the world. And the rest of the world is trying to model it now. It’s working, creating jobs and industries of the future. Now we have proven we don’t have to choose between protecting the environment and growing the economy. We’re doing both,” he said.
He added that the ‘powerful forces’ are using their influence to eliminate the steps taken to tackle the climate crisis.
“But powerful forces want to wield their unchecked influence to eliminate the steps we’ve taken to tackle the climate crisis, to serve their own interests for power and profit. We must not be bullied into sacrificing the future, the future of our children and our grandchildren. We must keep pushing forward, and push faster. There is no time to waste. It is also clear that American leadership in technology is unparalleled, an unparalleled source of innovation that can transform lives. We see the same dangers in the concentration of technology, power and wealth,” he said.
The farewell address has become a tradition for US presidents as they leave office.
George Washington, the first president, issued perhaps the most famous in 1796 — in the form of a letter — as he declined a third term and called for national unity.
The tradition was revived in the 20th century with the advent of radio and television, and Harry Truman was the first to do so from the Oval Office, in 1953.
