oligarchy (noun)

a political system governed by a few people

"one of his cardinal convictions was that Britain was not run as a democracy but as an oligarchy"; "the big cities were notoriously in the hands of the oligarchy of local businessmen"

oligarchy (Noun)

A government run by only a few, often the wealthy.

oligarchy (Noun)

Those who make up an oligarchic government.

oligarchy (Noun)

A state ruled by such a government.

Oligarchy

Oligarchy is a form of power structure in which power effectively rests with a small number of people. These people could be distinguished by royalty, wealth, family ties, education, corporate, or military control. Such states are often controlled by a few prominent families who pass their influence from one generation to the next. In his 2011 book, "Oligarchy," Jeffrey A. Winters defines oligarchy as "the politics of wealth defense by materially endowed actors." In Winters' definition, massive wealth is the key factor in identifying oligarchs. Throughout history, oligarchies have been tyrannical or relatively benign. Aristotle pioneered the use of the term as a synonym for rule by the rich, for which the exact term is plutocracy, but oligarchy is not always a rule by wealth, as oligarchs can simply be a privileged group, and do not have to be connected by bloodlines as in a monarchy.

Oligarchy

Oligarchy (from Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few', and ἄρχω (arkho) 'to rule or to command') is a conceptual form of power structure in which power rests with a small number of people. These people may or may not be distinguished by one or several characteristics, such as nobility, fame, wealth, education, or corporate, religious, political, or military control. Throughout history, power structures considered to be oligarchies have often been viewed as tyrannical, relying on public obedience or oppression to exist. Aristotle pioneered the use of the term as meaning rule by the rich, for which another term commonly used today is plutocracy. In the early 20th century Robert Michels developed the theory that democracies, like all large organizations, tend to turn into oligarchies. In his "Iron law of oligarchy" he suggests that the necessary division of labor in large organizations leads to the establishment of a ruling class mostly concerned with protecting their own power.