#Citizens against plutocracy update#

That is true even in a country controlled by billionaire and also by a Congress with a total wealth Roll Call of at least $2.43 billion. Although various people discuss the widening gap existing between the rich and poor in the U.S., plutocracy is more of a concept than it is a governing model in any modern country. Roosevelt wrote this when the wealthy paid small or no income tax and they could afford summer homes in Newport making the White House look ragged. Modern UsageĪccording to President Theodore Roosevelts writing in his autobiography, of all tyranny forms, the least attractive, as well as, the most offensive is the tyranny of mere wealth, a plutocracy's tyranny. The concern of unintentionally creating a plutocracy is that the focus of regulation would be narrow and centered on the objective of the wealthy, generating more income, as well as, asset-based inequality. Instead, it can be created via allowing process to specific programs, as well as, educational resources only to the wealthy and makes it such that the wealthy have more authority. Back to: ECONOMIC ANALYSIS & MONETARY POLICY How Does a Plutocracy Arise?Ī plutocracy does not have to be a purposeful, open format for government. This can then bring about policies designed to help the wealthy, which is portrayed in its name (originates from the Greek words ploutos or wealthy, and kratos ruling, power). A plutocracy permits, either by circumstance or openly, only the wealthy to rule. Plutocracy is a government which the wealthy control exclusively either directly or indirectly.

#Citizens against plutocracy update#

Update Table of Contents What is a Plutocracy? How Does a Plutocracy Arise? Modern Usage Academic Research on Plutocracy What is a Plutocracy?