Economic systems and political systems are heavily linked. Who holds the power? And is there a meaningful difference between political power and power through wealth? Or are they 2 sides of the same coin?
If, say, a tiny 1% controls all the wealth in the world, what does that mean for politics? Does democracy hold any power if the 1% can just use their wealth to get their way anyway? What can the 99% do if they have no wealth, and are dependent on the 1% for housing, food, etc? With the police and military legally and violently enforcing that the wealth of the 1% is protected and not just taken by the rest?
While it isn’t as drastic as the 99% controlling no wealth, this really isn’t far off from reality at all. If the vast majority is dependent on a small powerful minority to survive and have any meaningful quality of life, is there really a meaningful difference to an oligarchy?