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The political system run by a group of noble families or wealthy members of society is known as an oligarchy. In an oligarchy, power is concentrated in the hands of a small elite, often based on wealth, social status, or family lineage. This system can lead to the prioritization of the interests of the elite over the general population, often resulting in limited political participation for the broader populace. Examples of oligarchies can be found throughout history in various forms and regions.

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