While traditionally associated with the control of the state by wealthy individuals, oligarchic power may also derive from political nepotism or military influence, with these powers intertwining to support each other. Growing economic inequality has exacerbated the influence of economic elites. Their financial clout enables them to fund campaigns, control media narratives, shape public opinion and even directly run for office.

In more competitive democratic systems, oligarchic power is often split between antagonistic factions, often referred as polyarchy. In this format, distinct groups of elites compete with each other to obtain political power. However, neither group has an incentive to change the overarching system, so as economic inequality accelerates, policies that directly counter these interests become more difficult to enact.

Watch this video to learn how oligarchic politics is becoming entrenched and accelerating worldwide.