Definition of “oligarchy” - English Dictionary

“oligarchy” in American English

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oligarchynoun [ C ]

us /ˈɑl·ɪˌɡɑr·ki, ˈoʊ·lɪ-/

world history a government in which power is held by a small group of people

(Definition of “oligarchy” from the Cambridge Academic Content Dictionary © Cambridge University Press)

“oligarchy” in Business English

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oligarchynoun

uk /ˈɒlɪɡɑːki/ us plural oligarchies GOVERNMENT, ECONOMICS

[ U ] the fact of a country being ruled or controlled by a small group of powerful people:

The real difference between oligarchy and democracy is wealth.

[ C ] a country or industry that is controlled by a small group of powerful people, or these people considered as a group:

The electricity industry has moved from being a state monopoly to being a de facto oligarchy.

(Definition of “oligarchy” from the Cambridge Business English Dictionary © Cambridge University Press)