One of the most well-known oligarchies is Russia, which historians say has been ruled by one authoritative oligarchy or another since at least the 1400s. For example, while North Korea's one-party system qualifies it as an oligarchy, it could also be classified as a hereditary Stalinist dictatorship and even an absolute monarchy. Note that oligarchy is not necessarily an exclusive term. However, a strong case could be made for each of the following countries: China, Iran, Saudi Arabia, North Korea, Russia, Turkey, Ukraine, United States (debated), Venezuela, and Zimbabwe. List of countries that are oligarchies*:īecause 'oligarchy' is a slightly amorphous, subjective term, there is no definitive list of which countries are and are not oligarchies. Lastly, an oligarchy can result in puppet leaders-weak politicians who present as strong leaders, but are in fact mere figureheads controlled by the oligarchs who funded their election campaigns. Additionally, a soured oligarchy tends to inhibit economic growth and creative agility due to a ruling class focused on maintaining the status quo, typically at the expense of actions that would benefit the middle and lower classes. The middle class shrinks as the rich get richer and the poor grow poorer. Income inequality tends to increase as wealth is funneled towards rulers instead of those in the working class. When oligarchy governments become more self-serving, they typically become more authoritative and take on controlling, sometimes even oppressive or exploitative governmental policies. The impact of an oligarchy government on its people

In other words, an oligarchy only becomes 'evil' if and when the oligarchs act to remove the checks and balances on their own power, violate (or ignore) the rule of law, and put their own self interests ahead of those of the country's people-but they have a historic tendency to do so. However, many theorists, from Aristotle to influential Italian sociologist Robert Michels have observed that in the overwhelming majority of cases in which a few people are given power over a larger group, those few will eventually choose to establish policies that benefit themselves at the expense of the people as a whole. Most people would consider that a 'good' oligarchy. For example, an oligarchy in which the ruling people always made the same decisions that the population at large would make would be governing in parallel to the will of the people. In theory, oligarchies are neither good nor evil. A plutocracy is an oligarchy in which the ruling class is made up of extremely wealthy individuals who use their money to influence policy, typically with the goal of making even more money. Oligarchy is actually an umbrella term that encompasses at least 13 specific variations of 'rule of the few.' For example, an aristocracy is an oligarchy in which the ruling class is made up of aristocrats or nobles. Several modern countries could be described as oligarchies, including Russia, China, and arguably even the United States. Oligarchies in which a family rules often result in power being passed down from generation to generation. However, oligarchs may also gain influence through their social status/nobility fame education or political, religious, or military connections. The term 'oligarch' comes from an ancient Greek word, 'oligarkhia', which means 'the rule of the few.' Oligarchs typically gain control through financial means, such as donating heavily to politicians who, in turn, rule in ways dictated by the oligarchs. An oligarchy is a governmental system in which the government is controlled by a small group of people, or oligarchs.

Oligarchical plutocracy