[wfo]

Not true; they are quite correct characterizations.

In theory, union officials are elected by the members of the union. In practice, union officials are elected by the members of the union. In theory, the head of a corporation is the head of a corporation and may do whatever he likes so long as he and a small cabal of directors wish. In practice, the very few executives at the top of a large corporation run it like a dictatorship, and they primarily serve their own interests -- not the interests of the employees or the shareholders. And even when they do act in the interest of shareholders, that's simply a code word for "a tiny group of wealthy elites" -- shareholders are wealth holders, so invariably even the most honest and earnest CEO will be acting in the interest of large amounts of wealth (oligarchy), not large amounts of people (democracy).