ol ‧ i ‧ gar ‧ chy /ˈɒləɡɑːki, ˈɒlɪɡɑːki $ ˈɑːləɡɑːrki/ BrE AmE noun ( plural oligarchies )
[ Date: 1400-1500 ; Language: Greek ; Origin: oligarchia , from oligos 'few' + -archia ( ⇨ ↑ -archy ) ]
1 . [countable usually singular] a small group of people who run a country or organization, or a country that is run by a small group of people
2 . [uncountable] when a country or organization is run by a small group of people:
Eventually oligarchy took over from democracy.