If only the wealthy can afford to run for public office, are we more a plutocracy than a democracy?
corporate greed and America's growing plutocracy
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Ploutos was Greek for "wealth", and Plouton, or Pluto, was one of the names used for the Greek god of the underworld, where all the earth's mineral wealth was stored. So a plutocracy governs or wields power through its money. The economic growth in the U.S. in the late 19th century produced a group of enormously wealthy plutocrats. Huge companies like John D. Rockefeller's Standard Oil gained serious political power, and Rockefeller was able to influence lawmakers in states where his businesses operated. For this reason, it was said in 1905 that Ohio and New Jersey were plutocracies, not democracies.
First Known Use: 1631
in the meaning defined at sense 1
See Words from the same year: government by the richest people
: a country that is ruled by the richest people
: a group of very rich people who have a lot of power
Spanish Central: Translation of plutocracy Nglish: Translation of plutocracy for Spanish speakers
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