From Longman Dictionary of Contemporary Englisholigarchyol‧i‧gar‧chy /ˈɒləɡɑːki $ ˈɑːləɡɑːrki/ noun (plural oligarchies) 1 [countable usually singular]PG a small group of people who run a country or organization, or a country that is run by a small group of people2 [uncountable]PG when a country or organization is run by a small group of people Eventually oligarchy took over from democracy.
Examples from the Corpus
oligarchy• Perhaps inevitably, with such wealth and diversity an oligarchy of local tradesman emerged, organised into a merchant guild.• The struggle is probably better understood as one between a dominant oligarchy and those whom they excluded from power.• However, because of the opposition of a still-powerful landed oligarchy, the effects of the legislation were diluted.• But the municipal oligarchy was too weak to pursue its course for long, and eventually came to terms with the state.• In Britain the big cities were notoriously in the hands of the oligarchy of local businessmen.• These educational institutions suffer from very poor standards and give tacit or open support to the oligarchy.• The corrupt types include tyranny, oligarchy, and democracy.• Whenever oligarchy took over from democracy, pay for office was one of the first things to be abolished.From Longman Business Dictionaryoligarchyol‧i‧gar‧chy /ˈɒləgɑːkiˈɑːləgɑːrki, ˈoʊ-/ noun (plural oligarchies)1[uncountable] when a country is ruled or controlled by a small group of people, usually from the same social classOligarchy took over from democracy.2[countable] a country, organization, industry etc controlled by a small group of people, or the group who control itThe industry is dominated by an oligarchy of three oil companies. —oligarch noun [countable]the changing alliances of Russia’s corporate oligarchs —oligarchic (also oligarchical) adjectivethe dominance of a small oligarchical group of businessmenOrigin oligarchy (1400-1500) Greek oligarchia, from oligos “few” + -archia ( → -ARCHY) 