Meaning of Oligarchy
As an oligarchy it is called a political system or form of government in which power is concentrated in a small group of peopleusually belonging to the same family, social class, economic group or political party.
This small group is characterized because it tends to control the social and economic policies of the State in favor, above all, of its own interests.
The term also applies to social groups that monopolize the economy, political power and cultural influence of a country, regardless of whether democracy is the current political system. However, an oligarchic regime is more similar to a dictatorship or tyranny than to a democracy.
Thus, there are different types of oligarchy: financial oligarchywhich controls the economic system; landed oligarchycomposed of the main landowners (such as, for example, that of the Porfiriato, in Mexico); Creole oligarchyformed by families privileged by the colonial system.
Another example of oligarchy, very common in our times, occurs when members of the same political party occupy the highest positions in the government and occupy the highest positions in the public administration.
These oligarchic social schemes have occurred throughout history in many civilizations, both European, African, Asian and American, and continue to be in force in many places in the world.
The word, as such, comes from the Greek ὀλιγαρχία (oligarchy), which is composed of the Greek roots ὀλίγος (olígos), which means ‘few’, and ἄρχω (arko), which we can translate as ‘govern’ or ‘command’. In short, it would mean “government of a few.”
See also Oligarch, Dictatorship and Tyranny.
Oligarchy according to Plato
In Ancient Greece, Plato identified oligarchy as a degenerate form of aristocracy. Aristocracy, which means ‘the government of the best’ in Greek, was the political system where a small group of nobles, respectful of the laws, governed the State for the common good.
Oligarchy, on the contrary, meant the degeneration of the aristocracy. It was also made up of a few, who were the ones who would direct the destinies of the State, but, unlike the aristocracy, they acted without respecting the laws, and only sought to satisfy their personal ambitions.
See also: Aristocracy.