OLIGARCHY
CONTENT
- Definition of Oligarchy
- Features of Oligarchy
- 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:
- Power is concentrated in the hands of a few rich or influential people.
- It is a government steered by the minority over the majority.
- Oligarchy may take various forms such as gerontocracy, autocracy etc.
- The system favours the rich at the expense of the poor.
- There is no rule of law.
- 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:
- Aristocracy: It is a government ruled by persons of the highest social rank called nobles.
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