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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.
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]
Plutonomy (from Ancient Greek πλοῦτος (ploûtos) 'wealth' and νόμος (nómos) 'law'; a portmanteau of plutocracy and economy) is the science of production and distribution of wealth. [ 1 ]
One of the primary characteristics of the age of techno-capitalist-feudalism, according to Bellemare, is "the degeneration of the old modern class-system into a post-modern micro-caste-system, wherein an insurmountable divide and stratum now exists in-between the "1 percent" and the "99 percent", or more specifically, the state-finance ...
Freeland argues that the rise of plutocracy is due to advances in information technology and expansion of free trade. She explains that, within a global perspective, free trade has been overwhelmingly positive within the developing countries, citing per capita income growth in China and India between 1973 and 2002, but that income inequality ...
The concept of a "proletarian nation" was later adopted by fascists after World War I, and it was used to attempt to draw the working class away from socialism and communism by arguing that the struggle between classes could be replaced by a struggle between nations, specifically between "proletarian nations" and plutocracies. [4]
A review in The Guardian, while generally praising Plutocrats, noted that it was "short of solutions" to the problems it identifies. [7] According to Anthony Gould, Plutocrats argues that the American Dream is "apparently over", because American society no longer rewards entrepreneurs who produce useful or valuable goods and instead favours financial chicanery as a way to get rich.
Almond, Gabriel Abraham. "Plutocracy in Politics in New York City" (PhD dissertation, University of Chicago ProQuest Dissertations Publishing, 1938. T-00324). Almond, Gabriel A. "The Political Attitudes of Wealth" Journal of Politics (1945) 7#3 pp. 213-255 online; Almond, Gabriel A. 1950. The American People and Foreign Policy. Harcourt, Brace.