What is oligarchy in simple terms?

What is oligarchy in simple terms?

From Simple English Wikipedia, the free encyclopedia. Oligarchy is a form of government. In an oligarchic system, all the power is held by a small group of people. It is usually the most powerful people who govern the state. It was used in Sparta, where the kingship alternated between three leading families.

What is a sentence for oligarchy?

Oligarchy sentence example. This governing oligarchy was known as " the patricians." In the rest of the Midlands and in East Anglia they were only a governing oligarchy of scanty numbers. The regal government was at a later time exchanged for an oligarchy or a democracy.

What is the root word of oligarchy?

Answer: The word oligarch has Greek roots, and comes from oligoi for "few” and arkhein "to rule." When a country is ruled by an oligarchy, power isn't in the hands of one person (like a monarchy) or the people (like a democracy) but a small group of people.

What is rule by the rich called?

A plutocracy (Greek: πλοῦτος, ploutos, 'wealth' and κράτος, kratos, 'power') or plutarchy is a society that is ruled or controlled by people of great wealth or income. ... Unlike systems such as democracy, liberalism, socialism, communism or anarchism, plutocracy is not rooted in an established political philosophy.

What is the oldest democracy in the world?

Athens is often regarded as the birthplace of democracy and remains an important reference-point for democracy. Literature about the Athenian democracy spans over centuries with the earliest works being The Republic of Plato and Politics of Aristotle, continuing with Discourses of Niccolò Machiavelli.

What is a government run by corporations called?

Corporatocracy (/ˌkɔːrpərəˈtɒkrəsi/, from corporate and Greek: -κρατία, romanized: -kratía, lit. 'domination by'; short form corpocracy) is a term used to refer to an economic and political system controlled by corporations or corporate interests.

What is the meaning of plutocracy?

What does plutocracy mean? Plutocracy is a term for a government in which wealthy people use their wealth to rule. ... A wealthy person who rules or influences leaders in a plutocracy can be called a plutocrat.

What is the most powerful corporation in the world?

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RankCompanyCountry
1AppleU.S.
2Saudi AramcoSaudi Arabia
3AmazonU.S.
4MicrosoftU.S.

What is it called when a government controls everything?

Totalitarian - a government that seeks to subordinate the individual to the state by controlling not only all political and economic matters, but also the attitudes, values and beliefs of its population.

What power do corporations have?

Section 3.

What are 4 types of corporations?

When it comes to types of corporations, there are typically four that are brought up: S corps, C corps, non-profit corporations, and LLCs.

Why are large corporations bad for the economy?

Big businesses generally provide high-paying jobs and generate tax revenues for different levels of government. However, some of them may become "too big to fail," meaning that the failure of any one of them can cause widespread economic havoc. ... Governments often provide bailouts, which could lead to deficits.

How do corporations affect the economy?

Large businesses are important to the overall economy because they tend to have more financial resources than small firms to conduct research and develop new goods. And they generally offer more varied job opportunities and greater job stability, higher wages, and better health and retirement benefits.

What are the negative effects of big business?

So the facts are that big businesses create recessions and depressions, are national security threats, have proven to be net job destroyers, require government bailouts, encourage politicians to create bad regulations, and are infamous for crony industrialism and lack innovation.

How does small business help the economy?

Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.

What are the negative effects of multinational corporations?

Disadvantages of Multinational Corporations in developing countries

  • Environmental costs. Multinational companies can outsource parts of the production process to developing economies with weaker environmental legislation. ...
  • Profit repatriated. ...
  • Skilled labour. ...
  • Raw materials. ...
  • Sweat-shop labour.

Why are multinationals bad?

Some criticisms of MNCs may be due to other issues. For example, the fact MNCs pollute is perhaps a failure of government regulation. Also, small firms can pollute just as much. MNCs may pay low wages by western standards but, this is arguably better than the alternatives of not having a job at all.

Are TNCS good or bad?

Participant of TNC in trading not only provide advantages but disadvantages as well. One of the disadvantage that TNC involve in trading include exploiting cheap labour . Most of the TNC decided to move production into low wage countries or developing countries intend to exploit cheap labour as well as Nike.

What are the top 10 multinational companies?

Top 10 Multinational Companies

  • Microsoft.
  • Nestle.
  • PepsiCo.
  • HP- Hewlett & Packard.
  • Coca-Cola.
  • Sony.
  • Procter & Gamble.
  • Citigroup.