Pronunciation: [ˈɒlɪɡˌɑːki] (IPA) 
The correct spelling of the word "oligarchy" can be somewhat confusing due to its Greek origins. The first syllable, "olig," is pronounced as /ˈɑːlɪɡ/ with a long "o" sound followed by a short "i" sound. The second syllable, "archy," is pronounced as /ˈɑːrkɪ/ with a long "a" sound and a hard "ch" sound at the end. The word refers to a form of government where a small group of people have control over a country or organization.
Oligarchy is a noun that refers to a form of government where power is vested in a small group of individuals who belong to the ruling class or elite. It is derived from the Greek words "oligos," which means "few," and "arkhein," which means "to rule."
In an oligarchy, the governing authority typically consists of wealthy and influential individuals who maintain their control through social, economic, or political means. This elite group can be based on hereditary factors, wealth, social status, or connections. Oligarchies can arise in various systems, including democracies, republics, and monarchies, and they frequently overlap with other forms of government such as plutocracy (rule by the wealthy) or aristocracy (rule by the nobility).
The essential characteristic of an oligarchy is the concentration of power and decision-making in the hands of a few, leading to a limited participation of the broader population in the governance process. This lack of broad representation can result in policies that favor the interests of the ruling class rather than the majority of citizens, leading to social inequality and potential abuses of power.
Throughout history, oligarchies have been criticized for their tendency to prioritize self-interests and perpetuate their rule at the expense of the common good. However, not all small groups wielding power can be classified as oligarchies. The term specifically refers to a ruling class that exercises control over a state or organization, making decisions that profoundly impact the lives of the governed.
A state in which the government is placed in the hands of a few; the rule of an aristocracy.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word "oligarchy" is derived from the Greek term "oligarkhia", which is a combination of two Greek words: "oligos" meaning 'few,' and "arkhein" meaning 'to rule' or 'to govern.' Thus, the literal translation of "oligarkhia" is 'rule by a few.' The term was first used in ancient Greece to describe a form of government where power was held by a small, privileged group or elite. Over time, the term "oligarchy" has come to refer to any system of government or organization where power is concentrated in the hands of a few individuals or a dominant ruling class.
