PLUTOCRACY

Plutocracy

Plutocracy, also known as plutonomy or plutarchy, defines a society or a system ruled and dominated by the small minority of the wealthiest citizens. The first known use of the term is 1652. Unlike systems such as democracy, capitalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy and has no formal advocates. The concept of plutocracy may be advocated by the wealthy classes of a society in an indirect or surreptitious fashion, though the term itself is almost always used in a pejorative sense.

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plutocracy

Noun

  1. Government by the wealthy.
  2. A controlling class of the wealthy.


The above text is a snippet from Wiktionary: plutocracy
and as such is available under the Creative Commons Attribution/Share-Alike License.

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