In an oligarchy, who usually holds the power?

In an oligarchy, power is concentrated in the hands of a small group of wealthy elites. This structure is characterized by the fact that these elites typically have significant economic resources and influence, which they leverage to maintain control over political decisions and governance. The interests and privileges of this select group take precedence over the general population, resulting in limited democratic representation or participation for the broader society.

In contrast to democratic systems where power is distributed among the populace, an oligarchic system restricts decision-making to a few individuals or families, often creating a hierarchy that prioritizes their interests. This can lead to policies that favor the elite's wealth and power, further entrenching their position.

Oligarchies can take different forms, and while military or religious leaders may align with or support the elite's interests, they do not constitute the defining feature of an oligarchy. The core element remains the dominance of a small, privileged class that exerts control over political power and resources.