![]() The first records of the word plutocracy come from around 1650. 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. 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. Accessed July 26, 2021.Plutocracy is a term for a government in which wealthy people use their wealth to rule. " Report of the Committee Appointed Pursuant to House Resolutions 429 and 504 to Investigate the Concentration of Control of Money and Credit,". Ayanna Pressley Calls for 'Unrest in the Streets' Over the Failures of the Trump Administration." Accessed July 26, 2021.įederal Reserve Bank of St. " Kamala Harris Tweeted Support for a Bail Fund, But the Money Didn’t Just Assist Protesters," Accessed July 26, 2021.īlack Enterprise. " Small Businesses Already Hurt by Coronavirus Face More Devastation Due to Looting." Accessed July 26, 2021. " Tech’s Top Seven Companies Added $3.4 trillion in Value in 2020." Accessed July 26, 2021.ĪBC News. Job Losses and Pandemic Profiteers." Accessed July 26, 2021.ĬNBC. ![]() " The Effects of the COVID-19 Pandemic on Small Businesses," Accessed July 26, 2021. " Pandemic Revives Calls To Ban Lawmakers From Bunking In Their Offices," Accessed July 26, 2021. " Majority of Lawmakers in 116th Congress Are Millionaires." Accessed July 26, 2021. " How Increasing Wealth Concentration and Inequality Leads to Less Generous State Welfare Policies." Accessed July 26, 2021.Ĭenter for Responsive Politics. " Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens." Accessed July 26, 2021. " American Plutocracy." Accessed July 26, 2021.Ĭambridge University. " Wealth of Congress: Richer Than Ever, but Mostly at the Very Top." Accessed July 26, 2021. The concern of inadvertently creating a plutocracy is that the regulatory focus will be narrow and concentrated on the goals of the wealthy, creating even more income and asset-based inequality. ![]() Instead, it can be created through the allowance of access to certain programs and educational resources only to the wealthy, thereby making it so that the wealthy hold more sway. Plutocracy doesn't have to be a purposeful, overt format for government.
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