This term is often used to describe the (*) Russian speculators who bought former state enterprises during the 1990s privatization.
Gaetano Mosca stated that all governments were facades for this type of government. A case study of Germany's labor-oriented Social Democratic party was used by Robert Michaels to show that, due to organizational needs, this type of government will always arise, in a theory called the "iron law" of this. This term is often used to describe the (*) Russian speculators who bought former state enterprises during the 1990s privatization. For 10 points, give this term which describes government by a small, non-aristocratic class.
Gaetano Mosca stated that all governments were facades for this type of government.
{oligarchy} [accept word forms]