valarltd | A bedtime story

Once there was a republic that became an oligarchy. It held to some liberal notions (we can't let people starve in the streets) and some conservative (bigger is better). The power became concetrated in the hands of the most-wealthy folks, and the average small-holder was crowded out by cheap labor on factory farms.

The Real Powers began selecting the rulers, placing and deposing at will, and selling off the public assets to create money. They fiddled with the currency. They farmed out the public portion of the social contract to private for-profit contractors.

External enemies mounted a devestating attack, and the people
fought a series of economically ruinous wars. A plague from the east wreaked havoc on the poorest folk. Entertainment was very violent and highly sexualized. Athletic competitions were routinely rigged.

As life in the cities became untenable, many fled to the countryside.

Your challenge:
name the place.

Edited to Add:
Dang you folk are good.
I was waiting for the person who said America.