An oligarchic system is characterized by power being held by a small group of individuals or families, often distinguished by wealth, race, or political influence. Key characteristics include limited political pluralism, where broader participation is suppressed; an unequal distribution of power that favors elites; and decision-making processes that benefit the ruling group. Typically, such systems lack genuine democratic processes or free elections, and dissent is often quelled. Oligarchies can exist in various forms, including authoritarian regimes or in some interpretations of capitalism, where corporate interests overshadow democratic governance.