Instead, it’s based on the fact that only a few powerful people control things. The word oligarchy does not imply a specific political doctrine or philosophy. It comes from the Greek oligarchía and is formed from oligo-, meaning “few,” and -archy, meaning “rule” (the same ending is used in words like monarchy and anarchy). The first records of the word oligarchy come from the 1570s. Įxample: The members of just three families have run the country as an oligarchy for decades, serving only their own interests. These figures are frequently called Russian oligarchs and are sometimes referred to collectively as the Russian oligarchy. The word oligarch is especially associated with and applied to Russian figures known for their wealth and political influence. One of the select few who rules or influences leaders in an oligarchy can be called an oligarch. Oligarchy can also refer to the class of people who have the power in this kind of system, as in T he country was run by an oligarchy consisting of a few powerful industrialists. It is frequently used as a way of pointing out the influence of the wealthy and powerful in politics and government-an influence that’s typically used to benefit themselves.Ī country that is thought to have an oligarchic government can also be referred to as an oligarchy, as in Many outsiders view the nation as an oppressive oligarchy. Oligarchy is never used as an official term for a form of government (like monarchy is, for example)-it’s almost always applied as a criticism of such situations.

This can mean that these few people are the actual leaders, or that they influence or control the decisions that the leaders make (that they’re the ones “ pulling the strings” behind the scenes). Oligarchy is a term for a government in which power is held by a select few individuals or a small class of powerful people.

Oligarchy vs plutocracy vs autocracy