/ ˈɒlɪgɑːki; NAmE ˈɑːləgɑːrki/ noun ( pl. -ies )
1.
[ U ] a form of government in which only a small group of people hold all the power
2.
[ C +sing./pl. v . ] the people who hold power in an oligarchy
3.
[ C ] a country governed by an oligarchy
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WORD ORIGIN
late 15th cent.: from Greek oligarkhia , from oligoi few and arkhein to rule.