plutocracy
ploo-TOK-ruh-see
/pluːˈtɒkrəsi/
Government by the wealthy; a country or society governed by the wealthy.
Unlike an oligarchy (which is just 'few'), a plutocracy is specifically defined by the possession of riches.
The story behind the word. Plutus was the Greek god of wealth. In ancient plays, he was often depicted as blind, suggesting that wealth is distributed without regard to merit—a sentiment often echoed by those living under a plutocracy.
Word relationships
- timocracy: A timocracy is rule by property owners; plutocracy is rule by the wealthy specifically.
- egalitarianism: A system where all people are equal, regardless of wealth.
Commonly confused with
- aristocracy: Aristocracy is rule by the 'noble' or 'best' (often hereditary); plutocracy is rule by the 'rich'.
Word family
- plutocrat (noun): A person whose power derives from their wealth.
Collocations
- incipient plutocracy
- corporate plutocracy
- wealthy plutocracy
Example sentences
- "Critics argued that the deregulation of campaign finance was turning the republic into a plutocracy." Social critique.
- "The Gilded Age is often cited as the height of American plutocracy." Historical context.
Memory hook
Pluto was the god of the underworld, where all the gold and gems are. Plutocracy is rule by those with the gold. Pluto's gold: Wealthy rule.
When not to use
Don't use it to describe a wealthy person; use it to describe the system where that wealth buys political power.
Fun facts
- The word 'plutonomy' was coined by Citigroup analysts in 2005 to describe an economy where growth is powered by and consumed by the wealthy few.
Related words
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