Understand that 'oligarchy' emphasizes control by few often due to wealth or family status. Philanthropic as it was, the city's foundation rested on an oligarchy.
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Negative Connotations
'Oligarchy' usually suggests unfairness or lack of democracy. Citizens protested the oligarchy that ignored their voices.
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Context Specific
Used in discussions about politics, power structures, or historical governments. The debate focused on the transition from monarchy to oligarchy.