Oligarchy is when extreme wealth controls the political process. What’s happening in our country right now? “It’s not a recession, it’s a robbery.”
While many oligarchs are extremely wealthy (or have access to extreme wealth), not all people with extreme wealth are oligarchs. The term oligarch is reserved for those with extreme wealth who also want to control the political process, policy levers and most other aspects of the lives of the citizenry in a top-down tyrannical and undemocratic manner.[…]
The reason the wealth of the richest has doubled since 2009 is because it’s not a recession, it’s a robbery. Central bank and government policy have done this, it is no accident.
— Michael Krieger, Occupy.Com