Oligarchy

Oligarchy isn’t beneficial to a country’s welfare In modern society is very popular to raise the most scandalous issues of the present, disclose famous politicians and high-ranked officials, we highlight the hidden truth of the power-driven machinations and governmental intrigues. Thankful to the magazine Forbes, which is well known for its rankings of world 's top companies and lists of the richest people all over the world, we know them by sight. Many call these people wealthy, rich, and fortunate, tycoons, business magnates, but we prefer to call them oligarchs. We use this term to describe the huge, fast-acquired wealth of some businessmen of the former Soviet republics (mostly Russia and Ukraine) during privatization in Russia after the dissolution of the Soviet Union in the 1990s. Businessmen with great wealth from these countries were commonly labeled "oligarchs" in Russian regardless of whether they had real political power, as the term "oligarch" would imply. Now we define oligarchy as a form of power structure in which power effectively rests with a small number of people. These people could be distinguished by royalty, wealth, family ties, education, corporate, or military control. Such states are often controlled by a few prominent families who typically pass their influence from one generation to the next. But inheritance is not a necessary condition for the application of this term. However, the main question still remains without the answer: whether oligarchy is beneficial to the welfare of the country.

Kate: People tend to think that oligarchs hog all the country’s money and power for their own good. Let’s recall some examples from the history. In the time of the ancient Greeks, Sparta was an oligarchy that clashed with the democratic city-state of Athens, (these two nations eventually clashed in the Peloponnesian war in which Sparta defeated