ATS Words of the Day - Plutocracy and Kleptocracy, page 1

Concepts we should all be aware of. If we do not put a stop to lobbying of all forms, this is where we will be. I could argue that we are already in a Plutocracy but I prefer to retain a little optimism. If we allow it to go further, it will result in a Kleptocracy. I suppose some could/will argue that we are already in a Kleptocracy but I am not one of those.

Plutocracy

A Plutocracy is a government controlled by a minuscule proportion of extremely wealthy individuals found in most societies. In many forms of government, those in power benefit financially, sometimes enough to belong to the aforementioned wealthy class.

Classically, a plutocracy was an oligarchy, which is to say a government controlled by the wealthy few. Usually this meant that these ‘plutocrats’ controlled the executive, legislative and judicial aspects of government, the armed forces, and most of the natural resources. To a certain degree, there are still some situations in which private corporations and wealthy individuals may exert such strong influence on governments, that the effect can arguably be compared to a plutocracy.

If there are no forms of control within the society, the plutocracy can easily collapse into a kleptocracy, "reign of thieves", where the powerholders attempt to confiscate as much public funds as possible as their private property. A kleptocratic state is usually thoroughly corrupt, has very little production and its economy is unstable. Many failed states represent kleptocracies.

Kleptocracy

Kleptocracy, alternatively cleptocracy or kleptarchy, from Greek klepto (theft) and kratos (rule), is a term applied to a government that extends the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats) at the expense of the population, sometimes without even the pretense of honest service.

reply to post by Iamonlyhuman

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what do you want to talk about?
the words and definitions pretty much sum up how things work.

reply to post by warrenb

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Lol, ok. But, do you think we're there or not and, if you do, which one?

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