The bulk of that money came from campaign contributions from fewer than 1 percent of eligible voters. expenditure-inelastic goods and services, the difference between the democratic and plutocratic indices was only about one point for every ten percent. In contrast to the low voter participation, almost $4 billion were spent on the 2014 mid-terms. The argument I put forward in this essay is a simple one: liberals almost universally conceive of plutocracy as a problem that in principle will be. Senate in states that had elections for those seats. Election Project, 19 percent of voters determined the makeup of the U.S. The 2014 mid-term elections are a case in point with the lowest turnout since 1942. If anything, it turns most citizens away from participating in our democratic process. The worlds largest company, The Company, has seized power on a planetary scale and runs the world as if it were a business. This partisanship on steroids only serves to cement the gridlock in Washington, rather than benefit our nation as a whole. Rather than debate the issues and offer viable alternatives to the problems that face our country, they spew inflammatory rhetoric guaranteed to fire up their ultra-conservative base. Plutocracy is often used alongside other critical terms for corrupt or unjust forms of government, such as oligarchy (a system in which power is held by a small group of people) and autocracy (a government in which one person has unlimited power).Some GOP politicians’ refusal to condemn Rudy Giuliani’s inappropriate comments on the President’s patriotism shows their penchant for sinking into the cesspool of low-ball politics knows no bounds. Instead, the term is often used to imply that such a system leads to corruption and oppression-no matter what the official form of government is or what the specific politics of its leaders are. Plutocracy does not imply a specific political doctrine or philosophy. The business simulator Plutocracy gives you the chance to become wealthy and powerful to take control over the world. In a plutocracy, rich people have the power. The first part of the word comes from ploûto(s), meaning “wealth.” (The name of the god Pluto of Greek mythology-for whom the dwarf planet is named-comes from the related Greek Ploutōn, meaning “the rich one.”) The second part of the word comes from the Greek -kratia, which means “rule” or “power” and gives us the suffix -cracy, which is used in many terms for forms of government, such as democracy and bureaucracy. The first records of the word plutocracy come from around 1650. Meticulously researchedabsolutely brilliant on numerous levels, Scott Noble’s Plutocracy series is the story of the American working class. A 2011 study found that US citizens across the political spectrum dramatically underestimate the current US wealth inequality and would prefer a far more egalitarian distribution of wealth.ref>Norton, M.I. The first known use of the term in English dates. It can also refer to the wealthy class that is using wealth to rule, as in The businessman was accused of being a member of the plutocracy.Ī wealthy person who rules or influences leaders in a plutocracy can be called a plutocrat.Įxample: Average citizens are angry because they believe billionaires have turned the government into a plutocracy to benefit themselves. A plutocracy or plutarchy is a society that is ruled or controlled by people of great wealth or income. Plutocracy can also refer to the power that this kind of wealth can allow, as in His latest column explains his belief that the government has been corrupted by plutocracy. It is frequently used as a way of pointing out inequality and the powerful influence of the wealthy in politics and government.Ī country that is thought to have a plutocratic government can also be referred to as a plutocracy, as in Many outsiders saw the nation as an oppressive plutocracy. Plutocracy is never used as an official term for a form of government (like democracy is, for example)-it’s almost always applied as a criticism of such situations. This can mean that wealthy people are the actual leaders, or that they influence or control the decisions that the leaders make. Plutocracy is a term for a government in which wealthy people use their wealth to rule.
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