What is the definition of oligarchy?

The definition of oligarchy refers to a form of government in which power resides with a small elite group of individuals or families. This elite may hold power due to wealth, social status, military control, or other forms of influence that set them apart from the general population. In an oligarchy, decision-making is typically concentrated among this small group, allowing them to govern without broad input from the populace.

This concept contrasts sharply with other forms of governance. For example, a government ruled by a single individual represents a dictatorship or autocracy, while a system where power is distributed among many aligns more closely with democracy or representative government. Additionally, a government characterized by democratic principles involves widespread participation from the citizenry and often includes checks and balances, which is fundamentally different from the concentrated power structure of an oligarchy. Understanding oligarchy is crucial in studying how different governance structures can impact the distribution of power and influence within a society.