What are the pros and cons of an oligarchy system?
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Step 1
I'll provide a structured analysis of the pros and cons of an oligarchy system:

Step 2
: Definition of Oligarchy

An oligarchy is a form of government where political power is concentrated in the hands of a small group of privileged individuals, typically based on wealth, family ties, corporate interests, or military status.

Final Answer

While oligarchies can provide efficient governance and leverage specialized expertise, they fundamentally compromise democratic principles, representation, and economic fairness by concentrating power among a privileged few.