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Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of government in which power rests with a small number of people.
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to ...
The challenge to resisting a new American oligarchy is not to convince the public that there is a problem, but to offer compelling solutions. In that regard, reformers have a lot of work to do.
But unlike an aristocracy, an oligarchy is more closely tied to wealth than nobility and family lineage. The philosopher Aristotle wrote in his book “Politics” that “democracy is safer and more free from civil strife than oligarchy; for in oligarchies two kinds of strife spring up, faction between different members of the oligarchy and ...
The term oligarchy refers to a government that is run by a handful of people, often for their own gain. The president went on to say there could be "dangerous consequences if their abuse of power ...
The U.S. is a long way from Russian-style oligarchy, with a diverse, strong economy and resilient institutions. The risk is that if wealth is increasingly determined by executives' relationships with the government, it can increase inequality and lead to stagnation for most. That's the cautionary tale of Russia.
One of the best known exceptions to the iron law of oligarchy is the now defunct International Typographical Union, described by Seymour Martin Lipset in his 1956 book, Union Democracy. [10] Lipset suggests a number of factors that existed in the ITU that are supposedly responsible for countering this tendency toward bureaucratic oligarchy.
Although Putin was elected with promises to rein in the oligarchs who had emerged in the 1990s, Dawisha writes that Putin transformed "an oligarchy independent of, and more powerful than, the state into a corporatist structure in which oligarchs served at the pleasure of state officials, who themselves gained and exercised economic control ...