Vocabulary Day !!

Oligarchy v Plutocracy

We are hearing the word “oligarchy” bandied about with abandon, so feel the need to revisit this issue. Let’s look at the definitions:

Plutocracy: government by the wealthy.

Oligarchy: a small, elite group of people having control of a country, organization, or institution.

The latter “elite” CAN be an elite of wealth, but the specific term for rule of a wealthy elite is plutocracy. Plato, for example, favored rule by an educated and intellectual elite. He advocated a rule of the best; wise leaders trained in how to run a state, just as ships’ captains are trained to navigate. Iran is ruled by a religious elite; a class of mullahs. These are oligarchies ruled by a distinguished elite. The USA, on the other hand, is ruled by nothing but wealth; distinguished neither by ability, intellectual achievement, education, wisdom, or talent. .Just money. We live in a plutocracy. Why not amaze your friends and challenge the common wisdom? Don’t take “oligarchy” for an answer when “plutocracy” is the right term.

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