What is the term for a government in which a small elite group holds power?

The term "oligarchy" is used to describe a government structure where power is concentrated in the hands of a small, elite group. This elite could be composed of individuals from the same socioeconomic class, political faction, or other defining characteristics. In an oligarchy, the ruling class has significant influence over the governance and decision-making processes, often prioritizing their interests above those of the larger population.

Understanding oligarchy is essential in distinguishing it from other forms of government. For example, while democracy emphasizes participation by the general populace in decision-making, oligarchy excludes a significant portion of the public from power and influence. In a monarchy, power is typically held by a single ruler or royal family, whereas anarchy refers to the absence of any formal government structure. This nuanced understanding of various governmental forms helps clarify why oligarchy is identified specifically as a system of minority rule. Recognizing the implications of an oligarchic system is crucial for analyzing political dynamics and issues of representation in society.