Plutocracy is literally ‘rule by the rich’, the term plutocracy is used to denote a wide range of situations where a group of individuals are able to exert disproportionate power and influence in society and social institutions because of their wealth. Unlike democracy, capitalism, liberalism, socialism, communism or anarchism, plutocracy is not rooted in an established political philosophy. Theocracy and Monarchy are other forms of governments commonly found.
Oligarchy is a form of government where power rests with a small elite segment of society distinguished by royalty, wealth, family, military influence or occult spiritual hegemony. City-states from Ancient Greece were oligarchies. Oligarchs can simply be a privileged group. Oligarchy is not always a rule by wealthy people, but plutocracy is a rule by wealthy people.
Writing in the Financial Times in June 2019, Edward Luce points out that America is moving towards plutocracy: “Studies show that an eighth grade child from a lower income bracket who achieves maths results in the top quarter is less likely to graduate than a kid in the upper income bracket scored in the bottom quarter. This is the reverse of how meritocracy should work.”
From Plutocracy to
Pluralism: Managing the
Emerging Technostructure.
Heterick, Robert C., Jr.; Sanders, William H.
Abstract: Advocates the formulation of an information systems strategy for higher
education in light of trends affecting the information age, including globalization,
networking, restructuring, pluralism, and automation.
Democracy, Plutocracy, and Liberalism in William Graham Sumner - Byrne, William. Abstract: This paper examines William Graham Sumner's views on plutocracy and democracy, tensions within those views, and their relationship to his understanding of liberalism, in an effort to better inform contemporary political-philosophical discourse.
Democracy or Plutocracy? The Case for a
Constitutional Amendment to Overturn Buckley v. Valeo
- JONATHAN BINGHAM.
In the early 1970s the U.S. Congress made a serious effort to stop the abuses of campaign
financing by setting limits on contributions and also on campaign spending. In the 1976
case of Buckley v. Valeo, the Supreme Court upheld the regulation of contributions, but
invalidated the regulation of campaign spending as a violation of the First Amendment.
Herzl and the struggle within the Jewish plutocracy: The Rothschilds, Baron de
Hirsch and Samuel Montagu - GUTWEIN D - Siyywn.
Abstract: Herzl's differentiation between the Rothschilds and the 'medium millionaires'
refutes the conventional interpretation that Herzl considered the Jewish plutocracy to be
a monolithic group with homogenous interests. The article concludes that in
Herzl's view the crucial division in the Jewish community was not class-based, but rather
along the lines of a plutocracy.
THE USA CONFUSES PLUTONOMY AND ECONOMY AND ENDS WITH PLUTOCRACY.
WHY THE CLINTON LEGACY IS PART OF THE PLUTOCRATIC PROBLEM, HAVING BEEN ALL ABOUT
MONEY, AND WAR, NOT ECONOMY AND JUSTICE. - By Patrice Ayme.
Abstract: The USA used to have an economy (say in 1940). Now it has a plutonomy led by a
plutocracy, and it has not been good for the majority of people on the planet, including
average US citizens, who are hurt and mystified. In particular the plutonomy created HMOs,
making money from people's lives.
Plutocracy and the Labor Movement - Braun, Jerome.
Abstract: Liberal cultural values and their political ramifications for meeting
working-class interests through politics are discussed.