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" "[O]ligarchy, strictly speaking, is a regime "in which a rich minority rules for the advantage of the rich minority and in which the people composing that political society are ranked...because the ruling principle of that regime is the principle of natural inequality." Aristotle called it a deviant form of aristocracy (in the same way that tyranny is a deviant form of monarchy), and in practical terms, it exhibits its form through excessive concentrations of property in the hands of a few, the reservation of education to the elite, and the organization of government to serve the purposes of the oligarchs.
Allen Carl Guelzo (born 1953) is an American historian.
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[D]o not expect Americans to believe that freedom of speech is some disguised puppetry of the powerful. It is, to the contrary, an indispensable ingredient in the recipe for preventing tyrannies, be they of the left or right, be they in the name of the Fatherland, the Volk, or the workers. To say otherwise is merely to perform what Michael Polanyi called a “moral inversion”—an intellectual juggling act in which we are asked, in Orwellian terms, to regard freedom as slavery, discrimination as nondiscrimination, and truth as power.
At the end of the Civil War, the "Slave Power" had been destroyed, free-labor Republicanism was triumphant, and the freed slave was poised on the verge of assuming an equal place in American society with every other citizen. Fifteen years later, the one-time slaveholders were back in control of the South, free-labor Republicanism was coping with the first stresses of mass industrialization in its own Northern backyard, and the freedmen were consigned to an economic peonage that offered little practical improvement on enslavement. It began to seem that a great opportunity had been bobbled away.
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Trying to plant such an oligarchy in the midst of what was otherwise the world's most successful republican regime was no small task, and it required the invention of ideological monstrosities to justify it. In the Southern case, the monstrosities included race-based rationales for the enslavement of Africans.