Read Chomsky's Understanding Power (2002) and Manufacturing Consent (1988). It's been an oligarchy since at least the 1980s. It's Reagan's fault. Jimmy Carter — rest in power —was the last, best hope for the kind of America that humanity wanted.
President Dwight D. Eisenhower was right about the Military-Industrial complex. It used to just be weapons, technology, energy, and heavy industries. The associated industries have metastasized to include entertainment, finance, housing, and education.