comparelooki.blogg.se - Plutocracy examples

Unlike other democratic systems, the plutocracy is not adapted to an established political philosophy. The plutocracy impedes the good functioning of a democracy and thus promotes the creation of many hidden interests within the field of politics which can generate different struggles between groups and economic tensions that leave aside the real needs of a country. Among the consequences that a plutocracy can cause are social inequalities, the lack and bad distribution of wealth since there are favoritism, acts of corruption and preference for the economic elite.The media help to create a weakening of institutions and help to build the plutocracy.They use the media to favor the elite and public opinion.At present, it is considered a corruption crime in many countries of the world.

The concept is linked to oligarchy because the economic elites are minorities in relation to people in general.The public powers are managed in favor of the particular interests of the local economic elite.The economic elites have mechanisms capable of enacting laws that benefit their interests, regardless of whether or not they affect the rest of the population.Public authorities are subject to binding instructions from the elite.The people who governed were therefore, accountable to plutocrats, as they were more important than to the population itself.The plutocrats were able to revoke the mandate of the governments that had been elected.

The government rewards the support of the economic elites by benefiting their needs over and above the general will of the population.

Characteristics of the plutocracyĪmong the main characteristics of the plutocracy we can mention the following: The word was first used by the Greek historian and philosopher Xenophon, and he used it to refer to the Athenian society that existed before the Solon reforms, whose political congress was under the control of the big landowners and owners of most of the slaves, forcing the enactment of measures that excluded the lower classes from the government. It is formed by the words “ ploutos” meaning wealth and “ krathos” meaning power and government. The term plutocracy comes from ancient Greek.