Plutocracy. It is a word that was used on a news radio talk show the other day. I have to be honest with you. I wasn't sure what the word meant. I finished listening to the radio show, in an effort to divine the words definition from the conversations depths alas it was to no avail. After the show I looked it up.
Plutocracy describes a society or a system ruled and dominated by the small minority of the wealthiest citizens. The first known use of the term was in 1652. Unlike systems such as democracy, capitalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy.
That is an excerpt from a wikipedia article about the word.
Are you still a little confused? Me too.
I guess I understand a plutocracy is a society in which the minority of the wealthiest citizens make the decisions for everyone. What is confusing is that in the United States we have a democracy and yet we are ruled by the men and women on capitol hill and unless you make 174 000 a year you are not being represented by someone who is, when elected, in the same socio economic place as you. That is right the salary for men and women on capitpol hill doubles the median income of the United States. Why? Why not index the salary to the median income of the nation?
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