Plutocracy is an old biblical proverb about rich nations trying to rid themselves of any change that upsets their empire and creates plutocrats. Plutocracy, or “plutarchy,” is a society governed and controlled by the people with the greatest wealth and income. Aristotle used the term to refer to a small privileged group that exercises despotic power, often for corrupt and selfish purposes. The term “plutocracy” is generally used to describe or warn against undesirable conditions. Although it is almost always used in a derogatory sense, the concept of the plutocratic is often advocated by the richest strata of society.
In most classical oligarchies, the ruling elite is recruited exclusively from a hereditary caste, whose members tend to wield power in the interests of their own class. Wealth and noble birth are, however, indispensable to belong to a plutocracy ruled by the richest members of the community. Sometimes an oligarchy is a privileged group that governs itself, like the aristocracy, which is governed by members of the noble classes.
But the difference between a plutocracy and an aristocracy depends on the group of people in government over which you control. A conspiracy is a government of the rich, while an oligarchy is the rule of an elite of the few. The main differences between plutocracies and aristocracy are that in both cases, when the nobility rules, the richest rule, and when it is the hereditary ruling class that rules. Plutocrats and aristocrats are different from oligarchies, which are called the ruling elite or the few, but they are the same in terms of their rule over the people.
Plutocrats are individuals who, because of their wealth, have political influence and power. Plutocracy refers to a society governed or controlled by the people with the greatest wealth and income. It means a government controlled either by or for the rich, exclusively or directly or indirectly. The United States is defined as a plutocracy or oligarchy rather than democracy. It is a system of government in which the richest people in the country hold power and thus govern directly or indirectly. Ultimately, it depends on the type of people who make up the current presidential and congressional administration.
A plutocracy is created by providing access to important political and educational resources that only the rich can afford. The democratic concern of a plutocracy is that the rich want to retain power and represent the interests of the richest, as opposed to people of all levels of education and income.
America, for example, asserts itself as a nation with elements of a plutocracy, because the rich have a disproportionate influence over the country’s elections and politics – and thus influence the decision-making process. Consider that the Senate, made up of the wealthiest aristocracy, has the power to elect local officials and propose new policies. In the early twentieth century, America was also heavily influenced by New York City – by “plutocrats”. The names and people who are among the people today include celebrities, politicians, and others who have had a disproportionate influence on the political, economic, and social life of the United States.
Plutocracy can mean a government controlled exclusively, directly or indirectly, by rich people. In an indirect form of plutocrats, a country will have regulatory frameworks and programs that benefit only the rich. These rich individuals may not always be directly involved in the country’s administration, but they can influence its decision – through sponsored campaigns and other forms of influence.
Originally in ancient Greece, the monarchy was conceived as the rule of the best qualified citizens and contrasted with the monarchy. In later times, aristocracy was juxtaposed with democracy and was usually regarded as rule by a privileged group of aristocratic classes. Other political structures associated with oligarchy usually include the monarchy, the state, and other forms of government such as a parliament, a legislature, or a judiciary.
In systems like democracy, plutocracy is not rooted in political philosophy and acts like an advocate, but the term is used in a derogatory sense. Compare this to the aristocracy, which is defined as the few who decide their virtue over the rule of the people or the ruling people. This is the example given by Aristotle in his treatise on the nature of power and the role of political power in society. In practice, however, almost all forms of government are led by a small minority of members of society and, in some cases, by the majority of the population.
A dictatorship is defined as an autocratic form of government in which the government is governed by a single dictator, and totalitarianism is an extreme version of authoritarianism. It is a political system in which the state holds total authority over society and tries to control all aspects of public and private life, wherever necessary. A dictatorship or a government without popular consent is any government whose power comes from outside the peoples and whose government controls every aspect of their lives. Unlike pluralism, dictatorship forces governments to allow a diverse lifestyle and a variety of opinions.