Definition: Oligarchy is a political system characterized by a small, powerful group of individuals or groups who hold all power and control over the government. In this context, an "oligarch" refers to an individual or group that owns or controls most, if not all, of the wealth, property, and resources in a society. This type of oligarchy is often characterized by a lack of checks and balances, where the interests of the oligarchs are prioritized over those of the citizens.
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