History of Oligarchy in Timeline

Oligarchy is a system of government where a small group holds power. This group's dominance isn't tied to a specific trait; they may be distinguished by wealth, nobility, education, or control over sectors like religion, politics, or the military. It contrasts with democracies or monarchies, concentrating authority in the hands of a select few, who may or may not be representative of the broader population's interests.

1907: George Bernard Shaw Coined Intellectual Oligarchy Concept

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

Major Barbara (Dover Thrift Editions: Plays)

Check it on Amazon

1965: Start of Marcos Presidency

In 1965, Ferdinand Marcos began his presidency, during which monopolies, often linked to the Marcos family, arose in the Philippines.

1979: Iranian Revolution

In 1979, after the Iranian Revolution, the Islamic Republic of Iran was established, and is sometimes described as a clerical oligarchy due to power being concentrated in a small group of Shia clerics.

1981: Start of Policy Outcome Analysis

In 1981, Martin Gilens and Benjamin Page began their analysis of policy outcomes which would ultimately conclude in 2002. The analysis suggested that wealthy individuals and business groups held substantial influence over political decisions, often sidelining the majority of Americans.

1986: End of Marcos Presidency

In 1986, the presidency of Ferdinand Marcos came to an end. The period from 1965 to 1986 has been described as an era of oligarchy in the Philippines due to the rise of monopolies linked to the Marcos family.

1991: Ukraine's Independence

In 1991, Ukraine gained independence, leading to the rise of Ukrainian oligarchs who gained control of state assets during rapid privatization.

1991: Dissolution of the Soviet Union

In 1991, the dissolution of the Soviet Union led to the privatization of state-owned assets and the emergence of Russian oligarchs. These oligarchs gained control of significant portions of the economy and maintained close ties with government officials.

2002: End of Policy Outcome Analysis

In 2002, Martin Gilens and Benjamin Page concluded their analysis of policy outcomes, suggesting that wealthy individuals and business groups held substantial influence over political decisions, often sidelining the majority of Americans.

2008: Financial Crisis

Following the 2008 financial crisis, economist Simon Johnson argued that an American financial oligarchy became particularly prominent, wielding significant power over both 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.

2014: Gilens and Page Study

In 2014, a study by political scientists Martin Gilens and Benjamin Page argued that the United States' political system does not primarily reflect the preferences of its average citizens and that policy decisions are disproportionately influenced by economic elites.

2015: Carter Characterizes US as 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 President

In 2016, Rodrigo Duterte was elected president and promised to dismantle the oligarchy. However, corporate oligarchy persisted, and while Duterte criticized some tycoons, corporate figures allied with him also benefitted 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, in an effort to reign in the powerful class of business elites.

January 15, 2025: Biden's Farewell Address

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