The term “oligarch,” derived from the Greek word “oligarkhia,” describes a governance system where a small, elite group holds power, contrasting with democracy and monarchy. In ancient Greece, oligarchy was evident in city-states like Sparta, where a few warriors controlled decisions, while Athens criticized it for being unjust.
During the Middle Ages and Renaissance, oligarchy evolved as noble families and merchants governed cities like Venice and Florence, often without public election. The “patriciate” of Venice exemplified this, as power was passed through generations.
By the early modern period, oligarch began to signify individuals holding influence through wealth and social standing. Enlightenment thinkers expressed concern over this concentrated power, linking it to corruption.
In literature, oligarchs became archetypal figures, reflecting real power brokers, from Shakespearean characters to modern tycoons. The 19th and early 20th centuries saw a new breed: industrialists like Carnegie and Rockefeller, who wielded substantial economic influence.
Today, “oligarch” retains its historical meaning, highlighting the ongoing tension between the many and the few. Understanding its evolution provides a nuanced view of concentrated power throughout history.
