rule by the few

Oligarchy is a form of government where power is held by a small, privileged group. This ruling group, often referred to as an elite, exercises control for their own benefit, sometimes leading to corruption.123

Historically, oligarchies have seen elites recruited from a ruling caste, a hereditary social group set apart from others. In modern times, while recruitment may be based more on skill, new forms of oligarchic rule can emerge, particularly in advanced industrial societies where elites may wield significant power without effective restraints. The concept of the "iron law of oligarchy" suggests that even in democratic organizations, a small group of leaders tends to centralize power.24