Oligarchy
Oligarchy is a form of government in which the political power is centralized within a small group or faction of a few persons, called oligarchs. The ruling faction is usually a wealthy and privileged group. When the oligarchs are nobles, it is called an aristocracy; when they are men of wealth, it is called a plutocracy.
Examples of oligarchy
Historically, many city-states of ancient Greece were oligarchies. The most prominent one was Sparta, which was ruled by the military elite. Other examples include the Etruscans who ruled Italy in pre-Roman era, the Roman Republic, and the Italian city-states, including Venice and Genoa, during the Middle Ages.[1]
Modern usage
The United States has sometimes been accused of being oligarchical that the political power is essentially manipulated by the wealthy and big businesses.[2] The PRC regime in China is sometimes referred as an oligarchy that a small cadre of Communist party leaders dictatorially rule the country.[3] The Soviet Union's ruling class, the "nomenklatura", was in nature oligarchical. Multinational corporations have also been accused as constituting a global oligarchy.[4]
Iron law of oligarchy
The German sociologist Robert Michels formulated the famous "Iron law of oligarchy", that all political and organizational institutions, no matter what structure they are established as, will eventually devolve into oligarchies.[5]
References
- ↑ Oligarchy History for kids
- ↑ How Rich is Too Rich For Democracy? Thom Hartmann
- ↑ China's possible rethink on Taiwan Sushil Seth
- ↑ How the Rich Are Destroying the Planet: A Review Leslie Thatcher
- ↑ Excerpt from The Sociology of Organizations: Basic Studies Oscar Grusky and George A. Miller