What is an oligarchy?

An oligarchy is characterized by a government or organizational structure where power is concentrated in the hands of a small, elite group of individuals. This group often shares similar interests, social status, or wealth and exerts significant control over political decisions and policies, often sidelining the broader population's influence. In an oligarchy, the ruling group may not be elected by the general public but instead maintains power through various means, such as wealth, military control, or social connections.

Understanding oligarchy as a system led by a small group helps clarify the distinctions between various governmental structures, such as democracies, where power is distributed more widely among citizens, or authoritarian regimes, which may not be organized by a small elite but rather by a single leader or party. This definition emphasizes the exclusivity and concentrated power typical of oligarchic systems.