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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 ]
This class exercises minority rule, often as a landed timocracy, wealthy plutocracy, or oligarchy. Many monarchies were aristocracies, although in modern constitutional monarchies, the monarch may have little effective power. The term aristocracy could also refer to the non-peasant, non-servant, and non-city classes in the feudal system.
It has, under the regime of Vladimir Putin, been variously characterized as a kleptocracy, [11] an oligarchy, [12] and a plutocracy; owing to its crony capitalism economic system. [ 13 ] [ 14 ] Spread of corruption in Russia
This is seen in many parts of Africa and is sometimes called plutocracy (rule by wealth) or kleptocracy (rule by theft). Kenyan economist David Ndii has repeatedly brought to light how this system has manifested over time, occasioned by the reign of Uhuru Kenyatta as president.
A lunar eclipse above Lofer, Austrian province of Salzburg, in the early hours of Monday, Sept. 28, 2015. (AP Photo/Kerstin Joensson)
It hated the plutocracy but believed in rights for labor and a severely militarized state with strong controls over commercial monopolies and a hierarchical system, leading to the imperial conquest of vast new territories, providing wealth and successful careers for its members. The Assassins of the Brotherhood of Blood are aided, and receiving ...