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| A business oligarchy consists of corporations with sufficient resources to influence national politics and financial markets to their favour. | A business oligarchy consists of corporations with sufficient resources to influence national politics and financial markets to their favour. | ||
| \<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: | \<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: | ||
| # uses monopolistic tactics to dominate an industry; | |||
| # has sufficient resources to control disproportionate portions of the market; | |||
| # possesses sufficient political power to promote their own interests; | # possesses sufficient political power to promote their own interests; | ||
| # |
# controls multiple businesses, which intensively coordinate their activities.<ref name=Chern2018></ref> | ||
| More generally, an oligarch (from ancient Greek: ὀλίγος (oligos) = 'few' and 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 (from ancient Greek: ὀλίγος (oligos) = 'few' and 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> | ||
Revision as of 19:13, 16 May 2022
Rich industrialists / capitalists of great political influence in post-Soviet statesA business oligarchy consists of corporations with sufficient resources to influence national politics and financial markets to their favour.
\ A business leader can be considered an oligarch if the following conditions are satisfied:
- uses monopolistic tactics to dominate an industry;
- possesses sufficient political power to promote their own interests;
- 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".
The term is commonly used in the Western press to describe Russian business people. According to a study by journalist Alan Macleod on its use by the New York Times, CNN and Fox News, 98% of the mentions of countries linked to oligarchs were related to Russia (overwhelmingly) or countries of the former Soviet Union. American business people were very rarely referred to as oligarchs in the 150 articles included in the study.
See also
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.)
- "Russia Has 'Oligarchs,' the US Has 'Businessmen'". fair.org. September 14, 2019.
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