Conclusion
In both plutocracy and oligarchy, power is concentrated in a few hands; however, the source of this power differs.
In a plutocracy, wealth is the only means through which the ruling leaders gain control. Oligarchy, on the other hand, can involve religion, race, or any other factor through which a small group gains power.
While both terms often carry a pejorative sense, some scholars also see them as being inevitable—organizations always lead to oligarchy. However, despite this, scholars like Michels believe that we must always fight against oligarchy, promoting ideals of democracy & fairness.
References
Kertscher, T. & Borowski, G. (2011). “The Truth-O-Meter Says: True – Michael Moore says 400 Americans have more wealth than half of all Americans combined”. PolitiFact. Poynter Institute.
Written by Sourabh Yadav (MA)
Reviewed byChris Drew (PhD)
Be a Seed for Change 
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