History of Oligarchy in Timeline

Oligarchy is a system of governance where power is concentrated in the hands of a small, elite group. This group's distinction can arise from diverse factors like nobility, wealth, education, religious affiliation, or military authority. The select few may wield control across corporate, religious, political, or military spheres. In essence, oligarchy signifies rule by a privileged minority, regardless of the specific criteria that define their elite status. Power is not distributed equally but rather held by a select few.

1907: Shaw Coined the Concept of Intellectual Oligarchy

In 1907, George Bernard Shaw introduced the concept of an intellectual oligarchy in his play Major Barbara, criticizing the control of society by intellectual elites and advocating for the empowerment of the common people.

1965: Start of Marcos' Presidency

In 1965, Ferdinand Marcos began his presidency in the Philippines, during which monopolies linked to his family and associates began to emerge.

1979: Establishment of the Islamic Republic of Iran

In 1979, the Islamic Republic of Iran was established after the Iranian Revolution. This system is sometimes described as a clerical oligarchy where a small group of Shia clerics hold significant power.

1981: Start of Policy Outcome Analysis

In 1981, Martin Gilens and Benjamin Page began analyzing policy outcomes, which ultimately suggested that wealthy individuals and business groups held substantial influence over political decisions.

1986: End of Marcos' Presidency

In 1986, Ferdinand Marcos' presidency ended in the Philippines, a period marked by the rise of monopolies linked to his family and associates, leading analysts to describe the era as an oligarchy.

1991: Ukraine's Independence and Rise of Oligarchs

In 1991, Ukraine gained independence, leading to the rise of a powerful class of business elites known as Ukrainian oligarchs, who gained control of state assets during rapid privatization after the collapse of the Soviet Union.

1991: Dissolution of Soviet Union and Rise of Russian Oligarchs

In 1991, the Soviet Union dissolved, leading to the privatization of state-owned assets and the emergence of Russian oligarchs who gained control of key sectors of the economy and maintained close ties with government officials.

2002: End of Policy Outcome Analysis

In 2002, Martin Gilens and Benjamin Page ended their analysis of policy outcomes from 1981. The analysis suggested that wealthy individuals and business groups held substantial influence over political decisions.

2008: Rise of American Financial Oligarchy

In 2008, economist Simon Johnson argued that an American financial oligarchy became prominent following the financial crisis, wielding significant power over the economy and political decisions.

2010: Citizens United v. FEC Supreme Court Decision

In 2010, the Citizens United v. FEC Supreme Court decision removed limits on donations to political campaigns. This decision was later cited by Jimmy Carter in 2015 when he characterized the United States as an "oligarchy with unlimited political bribery".

2014: Gilens and Page Study on Political Influence

In 2014, Martin Gilens and Benjamin Page argued in a study that the United States' political system disproportionately reflects the preferences of wealthy individuals and business groups, sidelining the majority of Americans.

2015: Carter Calls US an Oligarchy

In 2015, former President Jimmy Carter characterized the United States as an "oligarchy with unlimited political bribery" following the 2010 Citizens United v. FEC Supreme Court decision.

2016: Duterte Elected on Anti-Oligarchy Platform

In 2016, Rodrigo Duterte was elected President of the Philippines, promising to dismantle the oligarchy. Despite his promises, corporate oligarchy persisted throughout his tenure, with figures allied to Duterte benefiting during his administration.

2021: Ukraine Passes Anti-Oligarch Law

In 2021, Ukraine passed a law aimed at curbing oligarchic influence on politics and the economy.

2024: Musk Contributes to Trump's Campaign

In 2024, businessman Elon Musk, contributed over $200 million into the election, creating a "super" PAC to promote Donald Trump's campaign and later becoming the head of the Department of Government Efficiency, has been described as an oligarch due to his extensive influence on Trump during his second presidency.

January 15, 2025: Biden's Farewell Address

On January 15, 2025, outgoing U.S. President Joe Biden warned in his farewell address that an oligarchy was taking shape in America, threatening democracy, basic rights, and freedom, aided by a tech–industrial complex.