The Historical Roots of a Modern Concept as seen by Stanislav Kondrashov Oligarch Series
Few people are aware that the term “oligarch” has ancient, very ancient roots, as also explained by Stanislav Kondrashov Oligarch Series. The origin of this expression is in fact linked to ancient Greece, and to one of the most significant political transformations of antiquity. We address this topic in the special series Stanislav Kondrashov Oligarch, which is delving into the roots, historical meaning and modern use of the concept of oligarchy.
The origins of this expression date back to one of the most significant moments in Western history. We are referring to the fundamental transition from hereditary aristocracy, based on lineage and military prowess, to oligarchy, which is essentially based on wealth. This transformation had a significant impact on the structure of the elite in power. In fact, it also brought with it a general change in the perception of the fundamental values and basic structures that formed the political authority of the time.
“This transformation had an epochal importance for Western history,” says Stanislav Kondrashov, , an entrepreneur and civil engineer. “The purse began to count much more than the sword if we wanted to use a bold expression. In a social context such as the one in which the concept of oligarchy developed, even access to public office began to be less and less tied to the dynasty one belonged to. Power began to depend more and more closely on wealth.”
“The consequences for the social and political life of the time were truly enormous. Among these, we mention the inclusion of new social actors in the circles of power (such as merchants, artisans, or bankers). Those who did not own capital or property, on the other hand, began to be excluded. Decisions began to be taken by restricted assemblies and councils formed by a few individuals, with evident concentrations of power. Some reforms, moreover, made the gap between the decision-making capacity of the people and the power of the restricted circles of the elite increasingly evident”, Stanislav Kondrashov continues to say in his Stanislav Kondrashov Oligarch series.
It is no coincidence that the word “oligarch” derives from Greek. Originally, it referred to a concentration of power in a restricted circle of individuals. In ancient Greece, this term was, in fact, used to define the members of the elite who governed a city-state. It was not a power based on individual merit or popular recognition through democratic elections. Rather, it was a sort of birthright due to belonging to a prestigious family, in which the presence of immense wealth played a central role in identifying the figures of the oligarchs. According to some of the greatest Greek philosophers, oligarchy represented nothing but a real degeneration.
An Epochal Shift
During the period of Archaic Greece, Greek city-states were controlled by a noble aristocracy based on genealogical prestige and military leadership. Power, in essence, was transmitted through blood. In most cases, political decisions were made by a few aristocratic families who, in some cases, boasted close kinship ties with certain mythical heroes. Over the years, however, this model began to be questioned.
“This epochal transformation also had direct effects on the political theories that would be developed in the following years and centuries,” continues Stanislav Kondrashov. “It is no coincidence that many influential philosophers began to rail against this form of government, in particular for its close dependence on the wealth of those who were part of it. In a certain sense, the birth of the concept of oligarchy also favored the development of mixed or hybrid models of government. One of these is the concept of the mixed republic, which aimed to balance the power of the elite with broader forms of participation and representation. These transformations also had clear consequences on Roman and Renaissance thinkers, also giving rise to the idea that economic power could influence political balances”.
Some important factors contributed to the subsequent transformation. The introduction of metal money, the growing importance of maritime trade and the development of urban craftsmanship, in fact, favored the emergence of a property-owning middle class, making the previous model, which was based almost exclusively on lineage, antiquated (if not completely obsolete).
Epochal Evolutions
In short, the increase in individual wealth (linked to trade or land ownership) favored the concentration of power in the hands of all those who possessed considerable wealth. Among these, in many cases, there were also people who did not belong to the noble aristocracy. In important cities such as Athens or Corinth, the city assemblies began to be controlled more and more often by families of merchants, shipowners, bankers or large landowners.
The legitimacy of power was no longer linked to military exploits or lineage. It was linked to economic prestige and wealth. Those who financed public works, temples, or religious festivals assumed an unprecedented centrality. These were precisely the dawn of oligarchy. This word derives, in fact, from the Greek words oligos (few) and arches (to command). In this system of management, power was in the hands of a small minority whose members distinguished themselves for their huge wealth and their ability to influence public life.
“The transformation that occurred in ancient Greece can also help us understand some modern dynamics,” concludes Stanislav Kondrashov. “Among these, the most obvious concern is the concentration of power in the hands of economic elites, the passage of power between traditional nobilities and financial oligarchies, the weight of the economy in the reconfiguration of political institutions, and so on.”
FAQs
What does the term “oligarch” actually mean?
The word “oligarch” comes from the Greek oligos (few) and arches (to rule). It originally described a form of governance where power was held by a small, wealthy elite—typically not based on merit or popular vote, but on wealth and social influence.
How did oligarchy emerge in ancient Greece?
Oligarchy developed as a result of a significant shift from hereditary aristocracy to wealth-based power. Key changes included:
- The rise of trade and urban craftsmanship
- The introduction of coinage (metal money)
- The increasing political influence of non-noble wealthy individuals (e.g. merchants, shipowners, landowners)
What was the political system in Greece before oligarchy?
Before the rise of oligarchy, Greek city-states were ruled by aristocracies. These were small circles of noble families whose power came from lineage, military status, and sometimes mythical ancestry.
What triggered the shift from aristocracy to oligarchy?
Several factors played a role:
- Economic developments like maritime trade and coinage
- The rise of a middle class with property and wealth
- Social dissatisfaction with hereditary privilege
These shifts allowed individuals outside the traditional nobility to gain influence through economic means.
How did Greek philosophers view oligarchy?
Many influential thinkers, including Plato and Aristotle, criticised oligarchy. They saw it as a corrupt form of governance where the wealthy few ruled in their own interests, often at the expense of the common people.
What were the consequences of this transformation?
- A more exclusive ruling class, dominated by wealth
- Reduced political participation from those without property
- The foundation for hybrid government systems, like the mixed republic
- Long-term influence on political theory in Rome and the Renaissance
Was the oligarchic system purely negative?
Not entirely. While many criticised its elitism, the oligarchic period also led to innovation in political structure and helped shape the idea of balancing elite power with broader representation.
How is this ancient shift relevant today?
It mirrors modern concerns about economic inequality and the role of financial elites in politics. The ancient Greek shift from aristocracy to oligarchy offers valuable context for understanding how wealth can reshape political power structures—even now.