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| {{short description|Rich industrialists / capitalists of great political influence |
{{short description|Rich industrialists / capitalists of great political influence}} | ||
| A '''business oligarch''' is generally a ] who controls sufficient resources to influence national politics.<ref>{{cite journal|last1= Guriev |first1= Sergei |last2= Rachinsky |first2= Andrei |title= The role of oligarchs in Russian capitalism |journal= Journal of Economic Perspectives |date=2005|pages=131–150|doi= 10.1257/0895330053147994|volume=19|issue=1|url= http://spire.sciencespo.fr/hdl:/2441/1cu21pio6c90g9i5oedr5hnaa3 |doi-access= free }}</ref><ref name=Chern2018>{{cite journal|last1= Chernenko|first1= Demid |title= Capital structure and oligarch ownership |journal= Economic Change and Restructuring |date=2018|volume= 52 |issue= 4 |pages=383–411|doi= 10.1007/S10644-018-9226-9|s2cid= 56232563 |url= https://mpra.ub.uni-muenchen.de/83641/1/MPRA_paper_83641.pdf }}</ref> A business leader can be considered an ] if the following conditions are satisfied: | A '''business oligarch''' is generally a ] who controls sufficient resources to influence national politics.<ref>{{cite journal|last1= Guriev |first1= Sergei |last2= Rachinsky |first2= Andrei |title= The role of oligarchs in Russian capitalism |journal= Journal of Economic Perspectives |date=2005|pages=131–150|doi= 10.1257/0895330053147994|volume=19|issue=1|url= http://spire.sciencespo.fr/hdl:/2441/1cu21pio6c90g9i5oedr5hnaa3 |doi-access= free }}</ref><ref name=Chern2018>{{cite journal|last1= Chernenko|first1= Demid |title= Capital structure and oligarch ownership |journal= Economic Change and Restructuring |date=2018|volume= 52 |issue= 4 |pages=383–411|doi= 10.1007/S10644-018-9226-9|s2cid= 56232563 |url= https://mpra.ub.uni-muenchen.de/83641/1/MPRA_paper_83641.pdf }}</ref> A business leader can be considered an ] if some of the following conditions are satisfied: | ||
| # uses monopolistic tactics to dominate an industry; | # uses monopolistic tactics to dominate an industry; | ||
| # possesses sufficient political power to promote their own interests |
# possesses sufficient political power to promote their own interests, often exacerbating income inequality and corruption, particularly through policies that benefit the elite at the expense of the majority. | ||
| # controls multiple businesses, which intensively coordinate their activities.<ref name=Chern2018></ref> | # controls multiple businesses, which intensively coordinate their activities.<ref name=Chern2018></ref> | ||
| More generally, an oligarch ({{Etymology|grc|''ὀλίγος'' (oligos)|few||''ἄρχειν'' (archein)|rule}}) is a "member of an ]; a person who is part of a small group holding power in a state".<ref>{{cite OED | oligarch}}</ref> | More generally, an oligarch ({{Etymology|grc|''ὀλίγος'' (oligos)|few||''ἄρχειν'' (archein)|rule}}) is a "member of an ]; a person who is part of a small group holding power in a state".<ref>{{cite OED | oligarch}}</ref> | ||
| == See also == | == See also == | ||
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| == References == | == References == | ||
Latest revision as of 10:43, 9 January 2025
Rich industrialists / capitalists of great political influenceA business oligarch is generally a business magnate who controls sufficient resources to influence national politics. A business leader can be considered an oligarch if some of the following conditions are satisfied:
- uses monopolistic tactics to dominate an industry;
- possesses sufficient political power to promote their own interests, often exacerbating income inequality and corruption, particularly through policies that benefit the elite at the expense of the majority.
- controls multiple businesses, which intensively coordinate their activities.
More generally, an oligarch (from Ancient Greek ὀλίγος (oligos) 'few' and ἄρχειν (archein) 'rule') is a "member of an oligarchy; a person who is part of a small group holding power in a state".
See also
- Gilded Age
- Russian oligarchs
- Ukrainian oligarchs
- Oligarchy
- Tai-pan
- Chaebol
- Zaibatsu
- Plutocracy
- Capitalist (disambiguation)
References
- Guriev, Sergei; Rachinsky, Andrei (2005). "The role of oligarchs in Russian capitalism". Journal of Economic Perspectives. 19 (1): 131–150. doi:10.1257/0895330053147994.
- ^ Chernenko, Demid (2018). "Capital structure and oligarch ownership" (PDF). Economic Change and Restructuring. 52 (4): 383–411. doi:10.1007/S10644-018-9226-9. S2CID 56232563.
- "oligarch". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)
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