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Apr 2, 2024 · oligarchy, government by the few, especially despotic power exercised by a small and privileged group for corrupt or selfish purposes. Oligarchies in which members of the ruling group are wealthy or exercise their power through their wealth are known as plutocracies.
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- Russia
- China
- Saudi Arabia
- Iran
- The United States
Coming from the Greek word oligarkhes, meaning “few governing,” an oligarchy is any power structure controlled by a small number of people called oligarchs. Oligarchs may be distinguished and related by their wealth, family ties, nobility, corporate interests, religion, politics, or military power. All forms of government, including democracies, th...
Though Russian President Vladimir Putin denies it, he functions as part of a wealth-based ruling oligarchy that had its beginnings in the 1400s. In Russia, as in many essentially anti-capitalist countries, accumulating personal wealth requires contacts inside the government. As a result, the Russian government tacitly allows the billionaire oligarc...
The religion-based Chinese oligarchy regained control after the death of Mao Tse-Tungin 1976. Claiming to be descendants of Taoism’s “Eight Immortals,” members of the so-called “Shanghai gang” oligarchs control most state-owned corporations, consult on and profit from business deals, and intermarry in order to maintain their relationship to the Imm...
The reigning monarch of Saudi Arabia is required to share his power with the descendants of the 44 sons and 17 wives of the country’s founder and first monarch, King Abd al-Aziz al-Sa'ud (1853-1953). The current king, Salman bin Abdulaziz has appointed his son, Prince Mohammed bin Salman as defense minister and overseer of Saudi Aramco, the powerfu...
Despite having a popularly elected president, Iran is controlled by a religion-based oligarchy of Islamic clerics and their relatives and friends. The Iranian constitutionstates that “the One God (Allah)” holds “exclusive sovereignty” over the country. The Islamic oligarchs took power after the death of Ayatollah Ruhollah Khomeini in 1989. His repl...
Many economists contend that the United States is now or is becoming an oligarchy. In saying this, they point to the country’s worsening income inequality and social stratification, two of the main characteristics of a wealth-based oligarchy. Between 1979 and 2005, the incomes of the top 1% of U.S. workers rose by 400%. According to a 2014 study by...
Mar 10, 2023 · Ukrainian President Volodymyr Zelenskyy signed a “deoligarchization” law in 2021 that cracks down on monopolies and places limits on the political influence of the elite. China defines itself...
Oct 19, 2023 · noun. a professional who studies sociology. sociology. noun. study of human social behavior and its origins, development, organizations, and institutions. theocracy. noun. form of government in which a religious institution holds power. Oligarchy is a form of government in which a small group of people hold most or all political power.
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few', and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] 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 ...
May 23, 2018 · In contemporary society, oligarchy refers to any small, cohesive class or group that is in a position to make decisions or command others in either political or nonpolitical contexts. However, it also has a specifically political meaning, namely as a kind of constitutional arrangement or political regime in which political power is in the hands ...
Feb 21, 2023 · What Makes Someone an Oligarch? An oligarch typically refers to an individual who is extremely wealthy and exerts significant social or, especially, political power.
