A plutocracy or plutarchy is a society that is ruled or controlled by people of great wealth or income. The first known use of the term in English dates from 1631. Unlike systems such as liberal democracy, communism, fascism, or anarchism; plutocracy is not rooted in an established political philosophy.

What is an example of plutocracy?

The definition of a plutocracy is a political system where the wealthy govern. When the richest people have all of the power in a society and make all of the political decisions, this is an example of a plutocracy. Government by the wealthy. ... A group of wealthy people who control or influence a government.

What does a plutocracy do?

A plutocracy allows, either openly or by circumstance, only the wealthy to rule. This can then result in policies exclusively designed to assist the wealthy, which is reflected in its name—the Greek words "ploutos" and "kratos" translate to wealthy and power or ruling, respectively, in English.