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Nov 21, 2017 · Here is a pros and cons list that looks at the other aspects of an oligarchy. List of the 5 Pros of an Oligarchy. 1. It consolidates power with those who have expertise. In an oligarchy, those who have the skills and experience are given the most power because they are the best at what they do.
- Oligarchy Definition
- 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 1, 2018 · Here are the top pros and cons of an oligarchy that are worth consideration. List of the Top Pros of an Oligarchy. 1. An oligarchy keeps power consolidated. With an oligarchy, there is never the uncertainty that comes with a transition of power. That is because power never really transitions.
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.
- The Editors of Encyclopaedia Britannica
Feb 21, 2023 · The term “oligarch” derives from “oligarchy,” a system of government in which a small number of people maintain power. ... Varieties, History, Pros & Cons, Socialism. Capitalism is an ...
Oct 19, 2023 · elite group of people based on wealth or social status. cleric. noun. clergy member. communist. noun. person or group of people who support communism, a type of economy where all property, including land, factories and companies, is held by the government. democratic.
Mar 10, 2023 · The general definition of an oligarchy is a form of government involving the rule of a few persons or families. According to National Geographic, Greek philosopher Aristotle used the term in ...
