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The term plutocracy is generally used as a pejorative to describe or warn against an undesirable condition. [3] [4] Throughout history, political thinkers and philosophers have condemned plutocrats for ignoring their social responsibilities, using their power to serve their own purposes and thereby increasing poverty and nurturing class conflict and corrupting societies with greed and hedonism.
Meritocracy (merit, from Latin mereō, and -cracy, from Ancient Greek κράτος kratos 'strength, power') is the notion of a political system in which economic goods or political power are vested in individual people based on ability and talent, rather than wealth or social class. [1]
A politically unstable and kleptocratic government that economically depends upon the exports of a limited resource (fruits, minerals), and usually features a society composed of stratified social classes, such as a great, impoverished ergatocracy and a ruling plutocracy, composed of the aristocracy of business, politics, and the military. [32]
In Plato's Republic, the character of Socrates is highly critical of democracy and instead proposes, as an ideal political state, a hierarchal system of three classes: philosopher-kings or guardians who make the decisions, soldiers or "auxiliaries" who protect the society, and producers who create goods and do other work. [1]
Kleptocracy is different from plutocracy (rule by the richest) and oligarchy (rule by a small elite). In a kleptocracy, corrupt politicians enrich themselves secretly outside the rule of law , through kickbacks , bribes , and special favors from lobbyists and corporations, or they simply direct state funds to themselves and their associates .
In the United States, people of lower classes are conditioned to believe in meritocracy, despite class mobility in the country being among the lowest in industrialized economies. [25] [22] In the U.S., 50% of a father's income position is inherited by his son. In contrast, the amount in Norway and Canada is less than 20%.
Donald Trump couldn't restrain himself. The former president's aides had promised that his acceptance speech at the Republican National Convention would showcase a “softer,” more conciliatory ...
Noocracies, like technocracies, have been criticized for meritocratic failings, such as potentially upholding a more or less permanent ruling class. Others have highlighted more democratic ideals as better epistemic models of law and policy. Noocracy's criticisms come in multiple forms, two of which are those focused on the efficacy of ...