Oligarchy
Oligarchy (Greek Ὀλιγαρχία, Oligarkhía) is a form of government where political power effectively rests with a small elite segment of society (whether distinguished by wealth, family or military powers). The word oligarchy is from the Greek words for "few" (ὀλίγον óligon) and "rule" (ἄρχω arkho).
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Oligarchy, aristocracy, and plutocracy
Historically, many oligarchies openly gave the political power to a minority group, sometimes arguing that this was an aristocracy ("organization by the 'best' and the 'brightest'"). Such states were often controlled by powerful families whose children were raised and mentored to be heirs of the power of the oligarchy. However, this power may also not be exercised openly, the oligarchs preferring to remain "the power behind the throne", exerting control through economic means. Although Aristotle pioneered the use of the term as a synonym for rule by the rich, for which the exact term is plutocracy, oligarchy is not always a rule by wealth, as oligarchs can simply be a privileged group.
Oligarchy vs. monarchy
Early societies may have become oligarchies as an outgrowth of an alliance between rival tribal chieftains or as the result of a caste system. Oligarchies can often become instruments of transformation, by insisting that monarchs or dictators share power, thereby opening the door to power-sharing by other elements of society (while oligarchy means "the rule of the few," monarchy means "the rule of the one").
One example of power-sharing from one person to a larger group of persons occurred when English nobles banded together in 1215 to force a reluctant King John of England to sign Magna Carta, a tacit recognition both of King John's waning political power and of the existence of an incipient oligarchy (the nobility). As English society continued to grow and develop, Magna Carta was repeatedly revised (1216, 1217, and 1225), guaranteeing greater rights to greater numbers of people, thus setting the stage for English constitutional monarchy.
Oligarchies may also evolve into more autocratic or monarchist forms of government, sometimes as the result of one family gaining ascendancy over the others. Many of the European monarchies established during the late Middle Ages began in this way.
Examples of oligarchies
Examples include Sparta (excluding the Helots, who were the majority of the population, from voting) and the Polish-Lithuanian Commonwealth (only the nobility could vote). Russia has been labeled an oligarchy because of the rise of Jewish billionaires, the oligarchs, after the fall of communism. Critics have argued that this happened in illegitimate ways and was due to corruption.
The Iron law of oligarchy
Some authors such as Vilfredo Pareto, Gaetano Mosca, Thomas R. Dye, and Robert Michels, believe that any political system eventually evolves into an oligarchy. This theory is called the "Iron law of oligarchy". According to this school of thought, modern democracies should be considered as elected oligarchies.
In these systems, actual differences between viable political rivals are small, the oligarchic elite impose strict limits on what constitutes an 'acceptable' and 'respectable' political position, and politicians' careers depend heavily on unelected economic and media elites. Some may argue this pertains to the United States and other democracies today in which election to public office is determined solely by campaign contributions and visibility in the mass media.
