Ans: One word answer. Yes it is.
Shades of the approach that defines this attitude can be seen in the following links:
http://en.granma.cu/mundo/2018-04-04/the-united-states-is-anoligarchy-not-a-democracy
https://www.cnbc.com/2018/04/11/goldman-asks-is-curing-patients-a-sustainable-business-model.html
But there is a contrarian viewpoint on this. A significant population ( significant enough to swing elections) of Americans think it is morally correct. And they have justification for this, which in the parlance of popular ‘justification industry’ may be quite valid.
When North America was colonized there was nothing on the land. This was contrary to the South America which had a huge reserve of precious metals. The Spanish who colonized the South made huge gains out of the treasure. In fact, the main occupation of the English was to robe the Spanish ships sailing the Atlantic.
Most of the people who colonized North America were the poor who were fleeing the poverty of Europe. A vast majority were indentured (white) slaves or prisoners who were promised freedom after a period of work.
Thus, unlike elsewhere in the world, the rich in the US started from a ‘ground zero’. Furthermore, a minority of the rich in the US has a culture of investing their wealth back into the community. People attribute the work ethics of the US to the Protestant work culture, which considered work as an act of redeeming oneself from the hell, most men are doomed to fall. Protestants consider wealth as the index of their work. Thus, wealth dictating democracy is not considered a regressive trait.
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