One of the most well-known oligarchies is Russia. An oligarchy has ruled Russia since the 1400s. Those who are wealthy in Russia have to maintain contacts within the government or lose their power.

How is oligarchy practiced?

oligarchy, government by the few, especially despotic power exercised by a small and privileged group for corrupt or selfish purposes. Oligarchies in which members of the ruling group are wealthy or exercise their power through their wealth are known as plutocracies.

What is an example of a oligarchy?

Examples of oligarchies

Examples of a historical oligarchies are Sparta and the Polish-Lithuanian Commonwealth. A modern example of oligarchy could be seen in South Africa during the 20th century. ... Capitalism as a social system, exemplified most notably by the United States, is sometimes described as an oligarchy.