Plutocracy - What and How. Plutocracy. Plutocracy (from Greek πλοῦτος, ploutos, meaning "wealth", and κράτος, kratos, meaning "power, dominion, rule") or plutarchy, is a form of oligarchy and defines a society or a system ruled and dominated by the small minority of the wealthiest citizens.
The first known use of the term was in 1652.[1] Unlike systems such as democracy, capitalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy. The concept of plutocracy may be advocated by the wealthy classes of a society in an indirect or surreptitious fashion, though the term itself is almost always used in a pejorative sense.[2] A Brief History of Plutocracy [28C3] History of Economics progress.flv. How an Economy Grows and Why It Doesn't (by Irwin Schiff) Wealth And Inequality In America. Military History Online.