An oligarchy is a form of government or power structure in which power is concentrated in the hands of a small group of people. These individuals often derive their authority from wealth, social status, education, military strength, or political influence, and they make decisions that prioritize their own interests over those of the broader population
. Historically, oligarchies have been characterized by inequality, lack of representation, and corruption, as the ruling elite tends to maintain its privileged position at the expense of the majority
. Aristotle described oligarchy as rule by the rich, a corrupted form of aristocracy, where power is exercised unjustly by a few rather than by the best individuals
. Oligarchies can exist in various forms, including political, economic, or corporate oligarchies. For example, ancient Sparta was ruled by a small group of elite leaders controlling the military and government decisions, while in modern times, some large corporations are controlled by a handful of executives and shareholders
. In contemporary contexts, oligarchy often refers to the fusion of wealth and political power, where ultra-rich elites exert disproportionate influence over democratic institutions and policymaking, as observed in countries like the United States and Russia
. In summary, an oligarchy is a system where a small elite group holds significant power and influence, often leading to governance that serves their interests rather than the public good
