Plutocracy

Plutocracy is rule by the wealthy, or power provided by wealth.

In a plutocracy, the degree of economic inequality is high while the level of social mobility is low. This can apply to a multitude of government systems, as the key elements of plutocracy transcend and often occur concurrently with the features of those systems.

The word plutocracy (Modern Greek: πλουτοκρατία - ploutokratia) is derived from the ancient Greek root ploutos, meaning wealth and kratein, meaning to rule or to govern.

The term plutocracy is generally used to describe two distinct concepts: one of a historical nature and one of a modern political nature. The former indicates the political control of the state by an oligarchy of the wealthy. Examples of such plutocracies include some city-states in Ancient Greece, the civilization of Carthage, the Italian merchant republics of Venice and Florence, and Genoa.

Kevin Phillips, author and political strategist to U.S. President Richard Nixon, argues that the United States is a plutocracy in which there is a "fusion of money and government."

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