Definition of Oligarchy

What does the term "oligarchy" mean? What is the definition of the term "oligarchy"?

Oligarchy is from the Ancient Greek word "oligarkhia", which means "rule by few".

In an oligarchy, control of the government lies in the hands of just a few people.

President Biden, in his outgoing speech, said that the United States was turning into an oligarchy, where the power lay in the hands of just a few key people.

The people who believe that the United States is an oligarchy will say that the power in the country lies in the hands of essentially two men - President Trump and Elon Musk.

With his immense wealth and influence, Elon Musk has quickly transformed himself into one of the most powerful people in the world, as he is involved with DOGE (Department of Government Efficiency), which has been recommending massive cuts within the US government.

President Trump, of course, is considered part of the oligarchy as well, as he currently wields enormous power. The Republicans control both the House and the Congress, as well as the Supreme Court.

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