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Definition of Oligarchy

(from Greek ὀλιγαρχία (oligarkhía); from ὀλίγος (olígos), meaning “few”, and ἄρχω (arch), meaning “to rule or to command”)

Oligarchy is a form of power structure in which power effectively rests with a small number of people. These people might be distinguished by royalty, wealth, family ties, education, corporate, religious or military control. Such states are often controlled by a few prominent families who typically pass their influence from one generation to the next, but inheritance is not a necessary condition for the application of this term.

Oligarchy is a form of power structure in which power effectively rests with a small number of people.

Oligarchy in the US

Some contemporary authors have characterized current conditions in the United States as oligarchic in nature. Simon Johnson wrote that “the reemergence of an American financial oligarchy is quite recent,” a structure which he delineated as being the “most advanced”…

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