What is the Greek meaning of oligarchy?
It comes from the Greek oligarchía and is formed from oligo-, meaning “few,” and -archy, meaning “rule” (the same ending is used in words like monarchy and anarchy). The word oligarchy does not imply a specific political doctrine or philosophy.
What is oligarchy a good government?
One of the main pros of oligarchy is that it puts power in the hands of people who are often experts and can make informed decisions for the populous or company. It therefore is more efficient than every single person being able to make decisions, and can often free up people to focus on their own work or lives.
How do oligarchies work?
A business group might be defined as an oligarchy if it satisfies all of the following conditions: Owners are the largest private owners in the country. It possesses sufficient political power to promote its own interests. Owners control multiple businesses, which intensively coordinate their activities.
How is power transferred in an oligarchy?
How is power transferred in a oligarchy? Power isn’t transferred; the people (citizens) always maintain the power (the position of chief executive is chosen by the people).
Is Oligarchal a word?
ol′i·gar′chic, ol′i·gar′chi·cal adj.
What are pros and cons of oligarchy?
List of the 5 Pros of an Oligarchy
- It consolidates power with those who have expertise.
- It reduces societal pressures.
- It encourages creative endeavors.
- It encourages a conservative approach.
- It still allows anyone to join.
- It encourages income inequality.
- It inhibits growth over time.
- It can disrupt the economy.
How does oligarchy get power?
Throughout history, oligarchies have often been tyrannical, relying on public obedience or oppression to exist. In his “Iron law of oligarchy” he suggests that the necessary division of labor in large organizations leads to the establishment of a ruling class mostly concerned with protecting their own power.
Who rules an oligarchy?
Broadly speaking, an oligarchy is a form of government characterized by the rule of a few persons or families. More specifically, the term was used by Greek philosopher Aristotle in contrast to aristocracy, which was another term to describe rule by a privileged few.
What are two types of oligarchies?
What are two types of oligarchies answer? The correct answer is D (theocracy and communism) because the definition of an oligarchy is when a group of people rules over a majority.