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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.
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 also faction between the oligarchs and the people.” What are some examples of oligarchies?
The iron law of oligarchy is a political theory first developed by the German-born Italian sociologist Robert Michels in his 1911 book Political Parties. [1] It asserts that rule by an elite, or oligarchy , is inevitable as an "iron law" within any democratic organization as part of the "tactical and technical necessities" of the organization.
President Joe Biden's farewell address included a stark warning about the danger of what he called abuses by the ultra-wealthy, particularly what he called the "tech-industrial complex." "Today ...
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights, freedoms, and a fair shot for everyone to ...
“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 get ahead," Biden said, drawing attention to "a dangerous concentration of power in the hands of a few ultra-wealthy people.
The Russia example. The term “oligarch” has been most associated with Russia in modern times. After the collapse of the Soviet Union in the 1990s, a group of businessmen took advantage of the privatizing of state industries under then-Russian President Boris Yeltsin to quickly snap up vast holdings.