ˈ ̷ ̷ ̷ ̷ˌgärkē, -gȧk-, -ki noun
( -es )
Etymology: Greek oligarchia, from olig- + -archia -archy
1.
a.
(1) : despotic power exercised by a privileged clique
a plutocratic oligarchy exercising all the old kingly powers — G.B.Shaw
— compare aristocracy
(2) : government by the few
democracy and oligarchy shade into each other and are chiefly distinguished by the degree of the citizens' participation in government — D.D.McKean
b. : autocratic control of any group or organization by a small faction
the alarming growth of economic oligarchy resulting from corporate concentration — C.C.Rodee
2.
a. : a group or organization that is controlled by a privileged few
high schools are oligarchies … or whatever you like, but not democracies — Saturday Review
b. : the faction in control of such a group or organization
rival oligarchies supporting similar programs within the same party — H.R.Penniman
the Millennium — old domination of the landowning and merchant oligarchy — D.M.Friedenberg