/ɒlɪˈɡɑːrki/ (OL-i-GAR-kee)

Definitions

1. noun

A system of government where power is held by a small group of people, often the wealthy or well-born.

“The country’s transition from a democracy to an oligarchy was a major concern for human rights activists.”

2. noun

A small group of people who control a particular organization or activity.

“The board of directors was accused of being an oligarchy, favoring the interests of the majority shareholder.”