In a plutocracy, the plutocrats may be the actual leaders, or they may influence or control the decisions that the leaders make. a government in which wealthy people use their wealth to rule. Rules or influences leaders in a plutocracy Technocracy is a form of government in which the decision-maker or makers are selected on the basis of their expertise in a given area of responsibility, particularly with regard to scientific or technical knowledge. An autocracy is a society that is governed by one person, all power is concentrated on this one person’s hands. An autocrat is a person who rules with absolute power. The word plutocrat is derived from the Greek word ploutokratia, which means the authority and power of those who are wealthy. What’s the difference between an autocrat and a plutocrat? In the early 20th century Robert Michels developed the theory that democracies, like all large organizations, tend to turn into oligarchies. Who invented plutocracy?Īristotle pioneered the use of the term as meaning rule by the rich, for which another term commonly used today is plutocracy. Was Sparta a Timocracy?Ĭrete and Sparta are two examples of timocracies given in Plato’s Republic. Is America a corporatocracy?Įconomist Jeffrey Sachs described the United States as a corporatocracy in The Price of Civilization (2011). Following the disposition of the last Roman king Lucius Tarquinius Superbus, Rome became an oligarchic Republic. One of the most distinguished and, perhaps, long-lived examples of a stratocratic state, is Ancient Rome, though the stratocratic system developed over time. What is Plutocracy? (Meaning of Plutocracy, Plutocracy Defined, Plutocracy Explained)Ģ4.0 similar questions has been found Was Rome a Stratocracy? What country has a dictatorship now?Ĭhina, Cuba, Eritrea, Laos, North Korea, and Vietnam Hence, plutocracy is a form of oligarchy, but plutocracy distinguishes the particular ruling minority by their great income or wealth. The main difference between oligarchy and plutocracy is that oligarchy is the rule by a privileged minority whereas plutocracy is the rule by a wealthy minority. Both plutocracy and aristocracy are two forms of oligarchy, which refers to the rule by an elite few. The main difference between plutocracy and aristocracy is that plutocracy is the government by the wealthy, whereas aristocracy is the government by the nobility, the hereditary ruling class. What is the difference between aristocracy and plutocracy? a class or group ruling, or exercising power or influence, by virtue of its wealth. a government or state in which the wealthy class rules. the rule or power of wealth or of the wealthy. Who are the plutocrats?Ī plutocrat is an individual who has political influence or power because of their wealth. Historic examples of plutocracies include the Roman Empire, some city-states in Ancient Greece, the civilization of Carthage, the Italian merchant city states of Venice, Florence, Genoa, the Dutch Republic and the pre-World War II Empire of Japan (the zaibatsu).
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