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A plutocracy (from Ancient Greek πλοῦτος (ploûtos) 'wealth' and κράτος (krátos) 'power') or plutarchy is a society that is ruled or controlled by people of great wealth or income. The first known use of the term in English dates from 1631. [1] Unlike most political systems, plutocracy is not rooted in any established political ...
Plutonomy entered the language as late as the 1850s in the work of John Malcolm Forbes Ludlow. [2] John Ruskin is quoted as having referred to plutonomy as a "base or bastard science". [3] Citigroup analysts have also used the word plutonomy to describe economies "where economic growth is powered by and largely consumed by the wealthy few."
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).
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.
Plutus is most commonly the son of Demeter [1] and Iasion, [2] with whom she lay in a thrice-ploughed field. He is alternatively the son of the fortune goddess Tyche. [3]Two ancient depictions of Plutus, one of him as a little boy standing with a cornucopia before Demeter, and another inside the cornucopia being handed to Demeter by a goddess rising out of the earth, perhaps implying that he ...
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]
Later Polybius in his analysis of the Roman Constitution used the concept of aristocracy to describe his conception of a republic as a mixed form of government, along with democracy and monarchy in their conception from then, as a system of checks and balances, where each element checks the excesses of the other.
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.