Oligarchy
A form of power structure in which power rests with a small number of people
Real World Example
During the Age of Absolutism (1550-1800), an oligarchy referred to the concentration of power in the hands of a few elite families or individuals, often alongside or instead of a single absolute monarch. This system was important because it allowed powerful nobles or wealthy merchants to influence decisions and maintain control over resources, often responding to the need for a stable, organized governance structure. However, it also led to problems like corruption and inequality, as the interests of the few often overshadowed the needs of the many. Today, the concept of oligarchy still matters because it can manifest in modern societies where a small group of wealthy individuals or corporations hold significant influence over political decisions and economic policies. For example, if a few big companies control the media, it could limit diverse viewpoints and affect public opinion, impacting how people understand important issues in their community.
