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The Islamic Republic of Iran, established after the 1979 Iranian Revolution, is sometimes described as a clerical oligarchy. Its ruling system, known as Velayat-e-Faqih (Governance of the Jurist), places power in the hands of a small group of high-ranking Shia clerics, led by the Supreme Leader. This group holds significant influence over the ...
The owners of the means of production are entitled to whatever portion of the products of the workers' labor that is agreed upon by the two parties. Colonialism: A system in which a native group (or their lands and resources) is subjugated by an external political power for their own economic and/or political benefit. Communism
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.
More generally, an oligarch (from Ancient Greek ὀλίγος (oligos) 'few' and ἄρχειν (archein) 'rule') is a "member of an oligarchy; a person who is part of a small group holding power in a state". [3]
Means of production which dominate the direct producers as an alien power. Generalized commodity production; The existence of a wage-earning working class which does not hold or have power. The existence of an elite or ruling class which controls the country, exploiting the working population in the technical Marxist sense.
The banks’ bank. The lender of last resort. The orchestrator of the U.S. economy. These words are often used to describe the central bank of the U.S., officially known as the Federal Reserve System.
The dictatorship of the proletariat is the transitional phase from a capitalist to a communist economy, whereby the post-revolutionary state seizes the means of production, mandates the implementation of direct elections on behalf of and within the confines of the ruling proletarian state party, and institutes elected delegates into ...
In sociology, the ruling class of a society is the social class who set and decide the political and economic agenda of society.. In Marxist philosophy, the ruling class are the class who own the means of production in a given society and apply their cultural hegemony to determine and establish the dominant ideology (ideas, culture, mores, norms, traditions) of the society.