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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.
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 ]
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 .
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Solon introduced the ideas of timokratia as a graded oligarchy in his Solonian Constitution for Athens in the early 6th century BC. His was the first known deliberately implemented form of timocracy, allocating political rights and economic responsibility depending on membership of one of four tiers of the population.
In political science, a political ideology is a certain set of ethical ideals, principles, doctrines, myths or symbols of a social movement, institution, class or large group that explains how society should work and offers some political and cultural blueprint for a certain social order.
This form of rule (in the non-Biblical sense) is the case of Somalia, ruled by judges with the polycentric legal tradition of xeer. [13] [14] [15] The definition employed by Michael van Notten (based upon one by Frank van Dun [16]) is not, strictly, that of rule by judges, judges not being a formal political class but rather people selected at random to perform that task ad hoc; but rather is ...
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.