“Oligarchy” means government by the few, and as a technical matter all government is government by a relative few. What we intend to express with the term is government by the few on behalf of their own interests against or irrespective of the interests of the many, but whether a particular oligarchy is in this sense “oligarchical” will be debatable,

I'll have to think about this post and the preceding one a bit more before I formulate any response, but for now I'd just like to say that the extract above is very well-stated indeed.