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- The pros of oligarchy include long-term solutions and less citizen responsibility. The cons are many and include there being no single leader, the propensity for tyrannical power, monopolies, no free press, stifled innovation and more.
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Nov 21, 2017 · Learn the benefits and drawbacks of an oligarchy, a government or business structure where a small group of people have control over everyone else. See examples of oligarchy in history and current society, and how it affects income inequality, creativity, and stability.
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
- Oligarchy Definition
- Russia
- China
- Saudi Arabia
- Iran
- The United States
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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...
An oligarchy is a power structure controlled by a few elite individuals, families, or corporations. Learn about the characteristics, evolution, and modern examples of oligarchies, as well as their advantages and disadvantages.
Feb 21, 2023 · An oligarch is a wealthy and powerful individual who controls or influences politics or society. Learn about the origins, characteristics, and controversies of oligarchs in Russia, China, and other countries.
Oct 19, 2023 · Oligarchy is a form of government by a few persons or families, often for corrupt and unjust purposes. Learn about the examples of oligarchy in China and Iran, and the contrast with aristocracy and democracy.
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.
Mar 10, 2023 · An oligarchy is a form of government, just as a democracy or monarchy is. Here's how it works and a few examples of countries some say it applies to.
