![]() Instead, it can be created through the allowance of access to certain programs and educational resources only to the wealthy, thereby making it so that the wealthy hold more sway. Plutocracy doesn't have to be a purposeful, overt format for government. Plutocracy is not to be confused with oligarchy, which defines a political structure in which power is concentrated within a small group of people that are not necessarily wealthy.The Roman Empire was considered a form of plutocracy in which a Senate consisting of the wealthy aristocracy had the power to elect local administration officials and propose new policies. Plutocracy has been present since ancient times.Commentators state that rising income inequality has converted America into a plutocracy, with Congress getting richer on average.Indirectly, plutocracy can take the form of regulatory frameworks and programs designed to benefit only the wealthy.Plutocracy is a system of rule by the wealthy, directly or indirectly.However, lobbies, as pressure groups trying to influence the government, are also an example of plutocracy. A plutocracy that, as we said at the beginning, sometimes becomes a synonym or a variant of the oligarchical system. In this way, by controlling the credit and financing of families and the Government, banks can influence the decisions that these agents must subsequently adopt. ![]() In this way, the rulers, to have the support of these media, yield to the ruling class.Īs these mechanisms are discussed, other scholars have referred to the financial “establishment” as a form of plutocracy.
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