Definition: In political science, an oligarchy is a form of government where one party or group has complete control over the government. This type of government often leads to a lack of transparency and accountability, as well as a significant power imbalance between the ruling and non-ruling classes. Oligarchs are individuals who hold significant positions in power within a particular oligarchy, such as politicians, businessmen, or wealthy individuals. They typically have access to vast amounts of wealth and resources that allow them to exert influence over