The rise of political parties and the costs invested during their electoral campaign is one of the ways in which the plutocracy exerts its dark influence. Financing of political parties and their electoral campaigns In general, in any society, those who have more purchasing power will always be a minority compared to those who have less.Ģ. This means that the domain falls into the hands of a few, who are placed above the others to exert their influence. To help make the term more understandable, we can limit the essential characteristics of the plutocracy in the following points.īy its very nature, plutocracy is a type of oligarchic system. You may be interested: Technocracy: what it is, simple definition and examples.Thus, democracy would be nothing more than a theater to keep the inhabitants of these nations under the false belief that they have the power of choice over their rulers, when in reality the plutocrats care little or nothing, since they will continue to take their decisions regardless of what the people demand or vote at the polls and acting through their political puppets.įor this reason, the term plutocracy (or ‘plutarchy’) is sometimes used with derogatory connotations, since it can easily be considered the misrepresentation, or corruption, if you prefer, of a fair system (at least on paper) such as democracy. Precisely for this reason, we said above that it does not matter so much who ends up being elected to govern, but who is behind it. Many consider that, behind the veil of a supposed representative democracy, this form of oligarchy is actually hidden, which has nothing to do with the hackneyed “government of the people and for the people.” After all, if those elected by the people (democracy) are actually puppets of the powerful rich and must act at their whim, we are already talking about plutocracy. Plutocracy: the prostitution of democracy? In addition, in a plutocracy, the ruling class holds all the material goods that a country has, something that reinforces the factual power that, by its nature, they already possess. Thus, the governed would live subject to and conditioned by the will of the few who were in power, whose interests would prevail over those of the majority. This power elite would seek the monopolization of all the resources and tools available to a system, regardless of the form of citizen participation or whichever political system it governed to get the most out of it and guarantee its maintenance. ? We call ‘plutocracy’ a form of government that is based on control of the population, exercised by a minority of inhabitants with a higher economic level. You may be interested: Ochlocracy: what it is, definition and 4 examples.? And most importantly: what does it mean to live in a plutocracy? In this sense, what would a system based on plutocracy look like?Īt a time when democracy seems so questionable, would it really be such a bad option Frequently, at a certain existential point, and considering certain living conditions, citizens question what would be the ideal style of government that would guarantee greater social welfare.
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