OLIGARCH Meaning and
Definition
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An "oligarch" refers to an individual who possesses significant economic and political power, often as a result of their immense wealth or inheritance. Derived from the Greek words "oligos" meaning "few" and "archy" meaning "rule," an oligarch is frequently associated with a small group of individuals who wield substantial influence and control over a particular industry or even an entire nation.
Oligarchs are generally characterized by their ability to manipulate and shape the political landscape due to their substantial financial resources. They typically exert their authority in various ways, such as funding political campaigns, influencing public opinion through media ownership, or building extensive networks of connections and alliances within the government.
The term oligarch is often used in a negative or critical context, primarily due to concerns of unequal wealth distribution and its potential impact on democracy. Critics argue that the power wielded by oligarchs can create an environment conducive to corruption, cronyism, and favoritism, as their interests often take precedence over the needs and welfare of the general populace.
While the concept of oligarchy has existed throughout history, the term has gained particular attention in contemporary discourse, especially in reference to post-Soviet countries where the rise of oligarchs has been a significant feature. Consequently, governments and societies often grapple with the challenge of striking a balance between the influence of oligarchs and citizen empowerment to ensure fair and equitable governance.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for OLIGARCH
Etymology of OLIGARCH
The word "oligarch" originated from the Greek word "oligarkhēs". Its etymology can be broken down as follows:
1. "Oligos" - This Greek word means "few" or "small in quantity". It is derived from the Proto-Indo-European root "oligu-", which conveyed a similar meaning.
2. "Arkhein" - This Greek word means "to rule" or "to command".
By combining these two elements, the term "oligarkhēs" was formed, referring to someone who holds power or authority in a government or society by being part of a small group or elite. Over time, the word evolved into "oligarch", and it came to be associated with individuals who possess considerable wealth and influence, often in the realm of politics or business.
Similar spelling words for OLIGARCH
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