Meaning of Oligarch

Author: Florence Bailey
Date Of Creation: 23 March 2021
Update Date: 23 January 2025
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What is Oligarchy? | Robert Reich
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What is an Oligarch:

Oligarch he is one of the people who have power within an oligarchy. An oligarch, therefore, is part of an oligarchic government in which a minority holds the political and / or economic power of a society.

This word is used in a negative or derogatory way. It comes from ancient Greek ὀλιγάρχης (oligarchs), word formed by ὀλίγος (oligos, in Spanish ’few’) and ἀρχός (arkhos, 'chief', 'ruler').

Aristotle used the term 'oligarchy' as the rule of the rich, although this idea would literally correspond to the word 'plutarchy'.

Some words that have a similar meaning are 'cacique' and 'tyrant'.

See also Oligarchy.

Examples of oligarchs

There are many examples at the international level, belonging to history but also current, oligarchies and oligarchs.

In the Ancient Greece, the so-called Government of the Thirty Tyrants, is a model of oligarchic government composed of 30 magistrates during the 5th century BC. C. in Athens. One of these oligarchs, for example, was Critias, a sophist and uncle of the philosopher Plato. One of Plato's dialogues is known by the name of Critias in which a character with the same name tells a story about Atlantis.


At the time of Italian Renaissance, an example of a more recent oligarchy can be identified. Power in the Republic of Florence was in the hands of the Florentine family of the Albizzi. One of the members of this family was Rinaldo degli Albizzi, who faced Cosimo de 'Medici.

From the dismemberment of the Soviet Union a number of businessmen enriched themselves with companies dedicated especially to oil, natural gas and metals. Sometimes the terms 'Russian oligarchs' or 'Russian magnates' are used to refer to these types of people who have great economic power. It applies in this case especially to entrepreneurs with great economic rather than political power. As an example, some people, considered oligarchs, such as Boris Berezovsky and Roman Abramovich can be cited.

The Government of the People's Republic of China, concentrated in the Communist Party of China, is identified in many cases as an example of oligarchy. Former Chinese Prime Minister Wen Jiabao is considered in some cases an oligarch. In the same way, it is often said that in United Arab Emirates the political system and economic resources are in the hands of a group of people and they represent an oligarchy.


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