Light

Merchant Oligarchies

Definition

A merchant oligarchy is a form of government where political power is in the hands of a small group of wealthy merchants or business leaders.

Analogy

Think of a school club where only the richest students get to make all the decisions. They have the most resources, so they control what happens in the club. That's how merchant oligarchies work - it's like an exclusive club run by rich merchants.

Related terms

Trade Monopolies: These are exclusive rights granted to certain businesses or individuals to trade specific goods or services, often leading to wealth accumulation and potential for political influence.

Bourgeoisie: This term refers to the middle class, typically with reference to its perceived materialistic values or conventional attitudes. In many societies, these were often successful merchants who could potentially be part of an oligarchy.

Feudalism: This was a hierarchical system prevalent in medieval Europe which structured society around relationships derived from holding land in exchange for service or labor. It contrasts with merchant oligarchies as power here is based on land ownership rather than wealth from trade.