Oligarchy is a system of governance in a country that allows a few influential families, individuals or businesses to rule a country. Their power comes through their relationships with each other. An oligarchy can coexist alongside a democracy, kingdom or theocracy. Their enormous wealth and connections to others allow them a great deal of influence over public policy behind the public eyes.
COUNTRIES WHERE OLIGARCHY EXIST
The ruling royal family in Saudi Arabia is an oligarchy since it is controlled by numerous people. The current or ruling family must share its power with descendants of the founder of the country. The founder is called King Abd al- Aziz al-Saud who left 17 wives and 44 sons after his death. The current ruler, King Salman bin Abdul Aziz has appointed his sons in very key positions in order to consolidate his rule.
Iran is run by an oligarchy of Islamic clerics, business associates, and relatives. They gained power after the death of Ayatollah Ruhollah Khomeini who led a revolution that toppled the then time ruler of the country Shah Pahlavi. He did not pave way for his family to rule but his successor did the opposite of that.
Ayatollah Ali Khameini fixed his family and friends into government positions especially the key ones. The elected president in Iran owes his power to these oligarchs. The five Larijani brothers’ relatives and friends of Khameini and his inner circle. They have become heads of critical government posts in the country.
A lot of people think Vladimir Putin is in total charge of Russia but he is just part of a large oligarch system that has ruled Russia for centuries since the 1400s. To be wealthy in Russia, you need to have contacts within the government and maintain these contacts else you lose your power. Due to this, many Russian billionaires buy numerous assets in other countries where the rule of law protects their property.
Today`s circle of oligarchs include Igor Sechin who is the chief of Rosneft, which is the state oil company. Gennady Timochenko who headed the country`s largest oil trading company is his main rival.
Like Putin, the ruler of the country before the revolution in 1917 known as the Czar owed his rule to a group of aristocratic bureaucrats. The Russian oligarchy hasn’t changed much since the period of the 1400s because regardless of the system of government that operates it still works.
A group of oligarchs took over the country after the demise of Mao Zedong. They are about 103 members who descended the eight immortals families. They run most of the State-owned Enterprises, even intermarry amongst themselves and collaborate on business deals.
UNITED STATES OF AMERICA
Martin Gilens of Princeton and Benjamin Page of Northwestern realized that policies that favored the richest 10% in America were often passed than that of those that favored the 50% poorest. If the 10% oppose the policy then it is unlikely to be passed. It doesn’t matter whether numerous middle-class members support it or not.
The Koch brothers are an example. They generally influence elections by contributing cash to the Libertarians and Republicans. They support less intervention by the government on the general populace. They supported the Tea party and want to abolish Obama care.
The Koch brothers oppose new taxes. Due to this, they are against plans to build mass transit but support taxes that provide funding to construct new bridges and roads. Perhaps due to David and Charles Koch`s net worth of $100bn which was attained through oil derivatives.,