An oligarchy is a small group of people who control and run a particular country or organization. You can also refer to a country which is governed in this way as an oligarchy.
Athens was suffering under the rule of an oligarchy.
2. uncountable noun
Oligarchy is a situation in which a country or organization is run by an oligarchy.
...a protest against imperialism and oligarchy in the region.
oligarchy in British English
(ˈɒlɪˌɡɑːkɪ)
nounWord forms: plural-chies
1.
government by a small group of people
2.
a state or organization so governed
3.
a small body of individuals ruling such a state
4. mainly US
a small clique of private citizens who exert a strong influence on government
Derived forms
oligarchic (ˌoliˈgarchic) or oligarchical (ˌoliˈgarchical) or oligarchal (ˌoliˈgarchal)
adjective
oligarchically (ˌoliˈgarchically)
adverb
Word origin
C16: via Medieval Latin from Greek oligarkhia, from olígos few + -archy
oligarchy in American English
(ˈɑlɪˌgɑrki)
nounWord forms: pluralˈoliˌgarchies
1.
a form of government in which the ruling power belongs to a few persons
2.
a state governed in this way
3.
the persons ruling such a state
Derived forms
oligarchic (ˌoliˈgarchic)
adjective or ˌoliˈgarchical
Word origin
Gr oligarchia: see oligo- & -archy
Examples of 'oligarchy' in a sentence
oligarchy
Thus to avoid descent into despotism or oligarchy, republics had to possess an equitable distribution of wealth.
Marius, Richard A Short Guide to Writing About History (1995)
Though in form it may be democratic because its formation follows an election, its spirit is that of an oligarchy.
Times, Sunday Times (2007)
He was owed at least nominal allegiance by his restive brothers, and ruled by a volatile combination of dictatorship and oligarchy.
Ben Macintyre JOSIAH THE GREAT: The True Story of The Man Who Would Be King (2004)