It was Aristotle who first introduced the word oligarchy, arguing that oligarchy is a perverted form of aristocracy, and it occurs when men of power and property have the government in their hands. That is what is known in the recent literature as ‘state capture’, referring to the shaping and manipulation of national laws, regulations, policies, and institutions by the economic and political elite for their own benefit at the expense of the public good .
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State Capture – With Special Reference to Lebanon and Arab Countries