“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire [[Democracy]], our basic rights and freedoms, and a fair shot for everyone to get ahead,” Biden said. The term oligarchy comes from the Greek word ὀλιγαρχία (oligarchía), which is a compound of two elements: • ὀλίγος (olígos), meaning “few” or “small in number.” • ἀρχή (arché), meaning “rule,” “authority,” or “government.” Thus, the original sense of the word in ancient Greek was “rule by the few.” It was used to describe a form of government where power is concentrated in the hands of a small group of individuals, typically those who are wealthy, privileged, or otherwise dominant in society. The word entered English in the late 15th century via Middle French (oligarchie) or directly from the Latinised form of the Greek word. `Concepts:` `Knowledge Base:`