What Is an Oligarchy?

By jamie

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In short, an oligarchy is system of government where just a relative few people are in control over the rest of the population. Those at the top are often a family, or just a few families, but that is not always the case. At other times, it might be a number of otherwise unconnected business people that exert power over the people due to their vast wealth.

Oligarchies are often oppressive, but not always. They can be compatible with different forms of government, ranging from fascism, to communism, and even democracies. There have been various examples of oligarchies throughout history, while there are still examples of oligarchies in existence today.

1. Russia

Russia has been an oligarchy since around the 1400s, with those in control having a tight grip over the rest of the country. The country’s leader, including the current President, Vladimir Putin, are propped up by some extremely wealthy and powerful backers that get to pull the strings and influence policies in their favor. The Russian oligarchy has a very tight grip over the wealth of its citizens. In order to become wealthy themselves, citizens will have to toe the line with the country’s leading factions. Some of Russia’s wealthiest citizens make investments abroad to protect their wealth from sanctions and similar that might be imposed by the oligarchs.

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