On the other hand, an oligarchy form of government cannot be equated to a dictatorship form of government. Autocracy can at times be equated to the military dictatorship form of government. It is interesting to note that the leader in the autocratic form of government has all the power including legislative and executive power. Sometimes the word ‘autocracy’ refers to the meaning of ‘one who rules by himself’. On the other hand, the word ‘autocracy’ is derived from the Greek word ‘auto’ meaning ‘self’. When the power rests in the hands of a small elite group of people or influential economic entities then it is called by the name of corporate oligarchy. This is because of the fact that the oligarchy power of government rests in the hands of only a few people as apposed to autocracy where the power rests in the hands of a single person. The word ‘oligarchy’ is derived from the Greek word ‘oligos’ meaning ‘a few’. It is interesting to note that the people who have the power to control are normally distinguished by wealth, military positions, family ties or corporate positions. On the other hand, oligarchy is a form of government in which the power rests with a small group of people. The government definitely has a say in all the business arrangements. As a matter of fact, in autocracy, economy is either a command or traditional system. The economy in the case of autocracy differs from that of oligarchy. In Plutocracy, the group exercising control derives their authority or power from their wealth. It is akin to the dictatorship form of government. In Oligarchy, the group that controls the system is not limited to wealthy people alone but includes other privileged individuals or groups of people such as royalty, noblemen, landowners, academics or philosophers, and military officers. The autocracy form of government is characterized by the presence of a single leader who rules the people. government in which one person has uncontrolled or unlimited authority over others the government or power of an absolute monarch. Autocracy and Oligarchy are two forms of government that show difference between them when it comes to the methods of rule and characteristics.
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