Oligarchy is a form of government where power rests with a small, privileged group, often referred to as an elite. This ruling class typically distinguishes itself through attributes such as immense wealth, military strength, noble lineage, or specialized knowledge. The concentration of power in an oligarchy means that political, economic, and social decisions are made by a select few, rather than being broadly distributed among the populace as in a democracy. This often results in policies that primarily benefit the interests of the ruling group, potentially leading to widespread inequality and limited representation for the general population.
Historically, oligarchies have appeared in various forms, including aristocracies where power is inherited, and plutocracies where wealth is the primary determinant of influence. In such systems, the ruling minority often employs mechanisms like control over resources, information, and sometimes repression to maintain its dominance and prevent challenges to its authority. The lack of broader public participation and accountability in an oligarchy can contribute to political instability and social unrest over time.
