Oligarchy
A system of government where power is concentrated in the hands of a small, elite group — often defined by wealth, family, or military control.
Explanation
In an oligarchy, a small number of people exercise control over a country, typically for their own benefit. The ruling group may be defined by wealth (plutocracy), military rank, family lineage, or religious authority. Oligarchies can exist within formally democratic systems — where elections occur but wealthy or connected elites dominate outcomes regardless. Russia after the Soviet collapse is frequently cited as an oligarchic system, as is much of Latin America historically. The concept was first analyzed by Aristotle, who described oligarchy as the corrupt form of aristocracy.
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