oligarchy

From French oligarchie, from Latin oligarchia, from Ancient Greek ὀλιγαρχία (oligarkhía), from ὀλίγος (olígos, “few”) + ἀρχή (arkhḗ, “rule”).
By surface analysis, olig- (“few”) +‎ -archy (“rule, command”).

• (UK) IPA^(key): /ˈɒlɪˌɡɑːki/
• (US) IPA^(key): /ˈɑːlɪˌɡɑɹki/, /ˈoʊlɪˌɡɑɹki/

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oligarchy

Wikipedia

oligarchy (countable and uncountable, plural oligarchies)

1. A government run by and for only a few, often the aristocracy, the wealthy, or their friends and associates.

   Despite the involvement of all classes of society, America's political duopoly and the importance of money to mass-market campaigning has established an oligarchy that is seldom responsive to the citizenry as a whole, when opposed to the wealthy or major interest groups.

   • 1981 September 6, “The Eclipse of the Oligarchs”, in The New York Times‎, →ISSN:

     It's an oligarchy because these families own and run almost everything that makes money in El Salvador. Coffee gave birth to the oligarchy in the late 19th century, and economic growth has revolved around them ever since.

   • 2016 January 17, “Wealthy cabals run America”, in Al Jazeera America, retrieved 18 January 2016:

     The Itasca Project is just one example of existing oligarchy, and a surprisingly open one at that.

2. A state ruled by such a government.

   The 1832 Reform Act aimed to transform the British oligarchy and allow Parliament to represent the interests of a broader range of the population.

3. Those who make up an oligarchic government.

   The modern British oligarchy—particularly during periods of Tory rule—has been called a chumocracy.

• aristocracy (rule by 'the best', particularly a hereditary nobility); meritocracy, technocracy (rule by the qualified); plutocracy (rule by the wealthy); kleptocracy (rule by thieves); chumocracy (rule by nepotism)