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. An oligarchy is a form of government in which power is vested in the hands of a small group, because of factors which favor them, like wealth, race, political connections, military capability, education, etc. Sometimes the word ‘autocracy’ refers to the meaning of ‘one who rules by himself’. A plutocracy is a form of government run, or influenced by, the wealthiest members of society. Do you know what oligarchy and plutocracy mean If someone asked us to define oligarchy and plutocracy, indeed. Before detailing this difference between oligarchy and plutocracy, give a truthful answer. City-states from Ancient Greece were oligarchies. On the other hand, the word ‘autocracy’ is derived from the Greek word ‘auto’ meaning ‘self’. Oligarchy vs Plutocracy The exact status of the group that controls the government marks the whole difference between oligarchy and plutocracy. Oligarchy is a form of government where power rests with a small elite segment of society distinguished by royalty, wealth, family, military influence or occult spiritual hegemony. 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. Hence, plutocracy is a form of oligarchy, but plutocracy distinguishes the particular ruling minority by their great income or wealth. The word ‘oligarchy’ is derived from the Greek word ‘oligos’ meaning ‘a few’. The main difference between oligarchy and plutocracy is that oligarchy is the rule by a privileged minority whereas plutocracy is the rule by a wealthy minority. 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. This group 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 economy in the case of autocracy differs from that of oligarchy. An Oligarchy refers to a government or political system controlled and ruled by a small and elite group of people. It is akin to the dictatorship form of government. The autocracy form of government is characterized by the presence of a single leader who rules the people. Autocracy and Oligarchy are two forms of government that show difference between them when it comes to the methods of rule and characteristics.

Oligarchy vs plutocracy