Pros: Power is centralized within a leadership team, rather than involving everyone in every decision.
People can participate in activities, relationships, and work while the group in power handles the larger issues of the society.
An oligarchy strives to keep the status quo, which breeds conservatism instead of taking on risky ventures.
It can foster creativity and innovation because people are free from worries about running society.
Cons: The ruling class controls policies and legislation, and ends up with much more wealth than the rest of society.
As the ruling class gains more expertise, it tends to exclude outsiders, making it tough for people to break in.
It prevents new perspectives and diversity.
It can limit available supplies to certain classes, fix prices, provide selective benefits, and restrict the economy by hindering basic supply and demand functions.
When people feel they can't join the ruling class, they may no longer feel compelled to follow the rules set by the ruling class, leading to rebellion, disruption, and war.
