Oligarchy and Plutocracy
Vocabulary Day
Plutocracy: government by the wealthy.
Oligarchy: a small, elite group of people having control of a country, organization, or institution.
There is a difference, people. So which is it ?
Keep learning. Stay sharp. Get ready.
Well, Ken, it seems that over the centuries since the first Europeans set foot on land in North America that the seeds of both oligarchy and plutocracy were planted. The frontier provided a safety valve for those hardy enough to try to survive in a wilderness populated by tribal peoples who thought of the territory as their own. But, as Frederick Jackson Turner explained at the beginning of the 20th century, the frontier was long gone. Oligarchy and Plutocracy were expanding with every year. One might argue that Roosevelt's "New Deal" mitigated the outcomes at least for awhile. The organization Redefining Progress looked at the data of how people lived and concluded that the quality of life for the majority of Americans has declined since the mid-1970s and for some has declined significantly.