What are the checks and balances on the power of Elon Musk?
The U.S. political system was designed by its founders to have a system of checks and balances, so that no individual or institution would have absolute power. But that system was designed with only government leaders and government institutions in mind — although the founders did worry about private individuals controlling the government, this wasn’t their prime focus, and they ultimately ended up declining to put institutions in place specifically to guard against economic power. James Madison believed, for example, that the federal system of the U.S. government was protection enough against small cabals of wealthy oligarchs.
In recent decades, especially in the wake of the Supreme Court’s Citizens United decision, many have voiced worries that the U.S. has become an oligarchy, where wealthy individuals are capable of buying power and influence — either by campaign contributions, lobbying, or other means. These concerns came largely from the progressive left, who often claimed that the U.S. has become an oligarchy. But many on the right also worried about the influence of George Soros and other progressive billionaires.
But the research backing up the “oligarchy” claim was very patchy and weak — in fact, most political scientists found that policy in the U.S. tends to align closely with the interests of the middle class. And popular concern was vague and diffuse — Americans will tell you that their economic system “ unfairly favors the powerful interests”, but this could mean anything, and most Americans are not concerned about the wealth of billionaires.
