Quick Answer: What Does Plutocracy Mean?

What is an example of plutocracy?

Historic examples of plutocracies include the Roman Empire, some city-states in Ancient Greece, the civilization of Carthage, the Italian city-states/merchant republics of Venice, Florence, pre-French Revolution Kingdom of France, Genoa, and the pre-World War II Empire of Japan (the zaibatsu)..

What is the meaning of the word plutocrat?

A plutocrat is someone who uses their wealth to buy political power. … Wealthy groups and people can do this by making large donations to political campaigns, with the expectation of favors in return. The Greek root of plutocrat is ploutos, “wealth.”

Is America an oligarchy or plutocracy?

The modern United States has also been described as an oligarchy because economic elites and organized groups representing special interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence.

How did oligarchs get power?

During the 1990s, once Boris Yeltsin became President of Russia in July 1991, the oligarchs emerged as well-connected entrepreneurs who started from nearly nothing and became rich through participation in the market via connections to the corrupt, but elected, government of Russia during the state’s transition to a …

What does plutocracy mean in government?

Plutocracy is a government controlled exclusively by the wealthy either directly or indirectly. A plutocracy allows, either openly or by circumstance, only the wealthy to rule.

What country has an oligarchy?

Several nations still use oligarchy in their governments, including: Russia. China. Saudi Arabia.

What exactly is an oligarch?

More generally, an oligarch is a “member of an oligarchy; a person who is part of a small group holding power in a state”. Aristotle gave the concept of oligarchy some negative connotations, but the term does not necessarily imply wealth.

Who holds power in an oligarchy?

Oligarchy, government by the few, especially despotic power exercised by a small and privileged group for corrupt or selfish purposes. Oligarchies in which members of the ruling group are wealthy or exercise their power through their wealth are known as plutocracies.

What is it called when corporations run a country?

Corporatocracy (/ˌkɔːrpərəˈtɒkrəsi/, from corporate and Greek: -κρατία, romanized: -kratía, lit. ‘domination by’; short form corpocracy) is a recent term used to refer to an economic and political system controlled by corporations or corporate interests.

What are the 8 types of government?

Terms in this set (8)Theocracy. Government in which priests rule in the name of God or a god.Traditional Monarchy. monarch has absolute power.Constitutional Monarchy. A King or Queen is the official head of state but power is limited by a constitution.Oligarchy. … Communism. … Democracy. … Dictatorship. … Fascism.

What is a fact about oligarchy?

Oligarchy is a form of government. In an oligarchic system, all the power is held by a small group of people. It is usually to the most powerful people who govern the state. It was used in Sparta, where the kingship alternated between three leading families.

What are the two types of oligarchies?

Oligarchy is where a small group of people have control over a country or organization. Theocracy is a system of government where the priests rule in the name of God.

What countries are a republic?

The countries with “Republic” as part of their official names include:Arab Republic of Egypt.Argentine Republic.Bolivarian Republic of Venezuela.Central African Republic.Co-operative Republic of Guyana.Czech Republic.Democratic People’s Republic of Korea.Democratic Republic of the Congo.More items…

What are the advantages of an oligarchy?

Pros of an Oligarchy An oligarchy allows most people to focus on their day-to-day lives without too much involvement in the issues that concern society as a whole. They can spend their time doing other things, such as working on their chosen career, cultivating relationships with their families, or engaging in sports.

What is the role of a citizen in an oligarchy?

Oligarchy Oligarchy – government by the few. Sometimes a small group exercises control for selfish purposes. Citizen has very limited role. the real power is vested in a cabinet composed of members of the legislature who are individually responsible to the legislature.