Plutocracy

See also: Government | Democracy

A Plutocracy is a government system where wealth is the principal basis of power. A common phrase for plutocracy is “government by the rich.”

A capitalist liberal democracy can sometimes be described as a stealth plutocracy. Democracy, capitalism and industrialism (all integrated into a form of plutocracy) are major forces driving for globalization.

“Abolish plutocracy if you would abolish poverty. As millionaires increase, pauperism grows. The more millionaires, the more paupers.” – Rutherford Birchard Hayes (1822�1893), U.S. president.

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