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An oligarchy functions as a form of governance where power resides in the hands of a small, often elite group of individuals or families. This group typically makes decisions that serve their interests, which can be based on wealth, social status, military control, or political influence. Unlike democracies, where power is distributed among the populace, oligarchies tend to prioritize the interests of the few over the needs of the majority, often leading to inequality and limited political participation. The effectiveness and stability of an oligarchy can vary widely depending on the context and the specific individuals in power.

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5d ago

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