Hence, in brief, oligarchy means the rule or governance by a privileged few. The term oligarchy is derived from the Greek word Oligarkhia, which means ‘to rule of command by a few’. Moreover, their rule is typically passed through inheritance however, inheritance doesn’t always count in this. Hence, the sovereign power of the state or country is vested in this small group of people that may usually comprise of wealthy people, elites, landowners, royalty, noblemen, high-ranking military officers, renowned academics, religious people, or philosophers. In other words, this refers to a minority rule controlling the whole affairs of a country or state. Thus, this ruling system is very limited as they don’t represent the common public. Oligarchy refers to the government system ruled by a small set of people, either social elites, wealthy nobles, religious and martial nobilities, etc. – Comparison of Key Differences Key TermsĪdministration, Government, Oligarchy, Plutocracy, Politics What is the Difference Between Oligarchy and Plutocracy What are the Similarities Between Oligarchy and PlutocracyĤ. In other words, they represent two forms of government systems. Oligarchy and plutocracy describe two forms of the ruling members of a country or an organization.
Hence, plutocracy is a form of oligarchy, but plutocracy distinguishes the particular ruling minority by their great income or wealth. The main difference between oligarchy and plutocracy is that oligarchy is the rule by a privileged minority whereas plutocracy is the rule by a wealthy minority.
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