👉 Oiligarchy is a concept that refers to a society where wealth and power are concentrated in the hands of a few, often through a system of rent-seeking or pyramid schemes. This can lead to a lack of diversity and competition among individuals and businesses, as well as a concentration of economic resources in the hands of a small group of people. In some cases, oiligarchy has been linked to political instability, social unrest, and environmental degradation.
