Broadly speaking, an oligarchy is a form of government characterized by the rule of a few persons or families. More specifically, the term was used by Greek philosopher Aristotle in contrast to aristocracy, which was another term to describe rule by a privileged few.

Who has the power in an oligarchy?

In an oligarchy (OH-lih-gar-kee), a small group of people has all the power. Oligarchy is a Greek word that means “rule by a few.” Sometimes this means that only a certain group has political rights, such as members of one political party, one social class, or one race.

Is oligarchy ruled by a king?

In an oligarchy government, the power to make decisions is in the hands of two to three rich men, usually called oligarchs or kings. The word oligarchy comes from the Greek root words oligos (which means “few”) and arkhein (which means “rule”).