OLIGARCHY

CONTENT

1. Definition of Oligarchy
2. Features of Oligarchy
3. Types of Oligarchy

Definition of Oligarchy

Oligarchy can be defined as government by few privileged and powerful people. It is a very selfish type of government because the government is ruling for the interest of the few people in government. Also, oligarchy can be defined as a form of government in which the power to rule and direct the affairs of a society or country is vested in the hands of few people.

Features of Oligarchy

The following are the features of oligarchy:

1. Power is concentrated in the hands of a few rich or influential people.
2. It is a government steered by the minority over the majority.
3. Oligarchy may take various forms such as gerontocracy, autocracy etc.
4. The system favours the rich at the expense of the poor.
5. There is no rule of law.
6. Wealth and nobleness become the main criteria for attaining to political offices

Types of Oligarchy

Oligarchy is manifested in the following systems of government where power and authority resides in a few people:

1. Aristocracy: It is a government ruled by persons of the highest social rank called nobles.