Unlike systems such as democracy, capitalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy. The first known use of the term was in 1631. Plutocracy (Greek: πλοῦτος, ploutos, ‘wealth’ + κράτος, kratos, ‘rule’) or plutarchy, is a form of society defined as being ruled or controlled by a function of wealth or higher income. They even used lots for posts, such as judges and jurors in the political courts (nomothetai), which had the power to overrule the Assembly. He also believed that oligarchy resulted with degeneration. He believed aristocracy to be the best form of governance with tyranny being the worst. The other forms of government discussed by him are Timocracy, democracy, and tyranny. The main difference between Oligarchy and Plutocracy is that Oligarchy is a government system ruled by powerful people, who can be unjust or corrupt while Plutocracy is the form of government ruled by wealthy people only.
They drew lots from large groups of adult volunteers to pick civil servants performing judicial, executive, and administrative functions (archai, boulē, and hēliastai). Oligarchy and aristocracy are classical regimes or forms of government discussed by Plato, the Greek philosopher.
#OLIGARCHY VS PLUTOCRACY PROFESSIONAL#
Aristotle pioneered the use of the term as a synonym for rule by the rich, for which another term commonly used today is plutocracy.Įspecially during the fourth century BCE, after the restoration of democracy from oligarchical coups, the Athenians used the drawing of lots for selecting government officers to counteract what the Athenians saw as a tendency toward oligarchy in government if a professional governing class were allowed to use their skills for their own benefit. Throughout history, oligarchies have often been tyrannical, relying on public obedience or oppression to exist. Oligarchy definition, a form of government in which all power is vested in a few persons or in a dominant class or clique government by the few. Such states are often controlled by families who typically pass their influence from one generation to the next, but inheritance is not a necessary condition for the application of this term. These people might be distinguished by nobility, wealth, family ties, education or corporate, religious or military control. The main difference between Oligarchy and Plutocracy is that the Oligarchy is a power structure and Plutocracy is a society or system ruled and dominated by. Oligarchy: 'a government in which a small group exercises control especially for corrupt and selfish purposes'. Plutocracy: 'a government or state in which the wealthy class rules' (). Since it is a government of a few, the deciding factor here is what constitutes this few. Corruption, Plutocracy, Oligarchy, Kleptocracy, Corporatocracy Solutions: Reasoning & Alternatives. Oligarchy (from Greek ὀλιγαρχία (oligarkhía) from ὀλίγος (olígos), meaning ‘few’, and ἄρχω (arkho), meaning ‘to rule or to command’) is a form of power structure in which power rests with a small number of people. Autocracy, democracy and oligarchy are terms used to define different systems of government. On the contrary, an oligarchy has a much wider scope.