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The word for today is…
oligarchy (noun):
1 : government by the few
2 : a government in which a small group exercises control especially for corrupt and selfish purposes
3 : an organization under oligarchic control
Source : Merriam -Webster
Etymology : Oligarchy is one of numerous English words for a type of rule or government. Some of these words, such as plutocracy, have an exceedingly similar meaning (both may be used to refer to rule by an economic elite, but oligarchy often has the additional connotation of corruption). Besides these two, we have meritocracy “a system in which the talented are chosen and moved ahead on the basis of their achievement,” monarchy “a form of government in which a country is ruled by a king or queen,” ochlocracy “government by the mob,” and gerontocracy “rule by elders,” among many others.
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