Plutarchy is a term that refers to a society or government controlled by the wealthy. Its spelling can be explained using the International Phonetic Alphabet (IPA) as "pluːtɑːki" (PLOO-tahr-kee). The "pl" sound is pronounced with the lips together and the "uː" sound is a long vowel sound. The "tɑː" sound is a combination of a "t" and a long "a" sound. Finally, the "ki" sound is pronounced with the lips closing together in a short "i" sound.
Plutarchy is a noun that refers to a form of government or social system in which power and influence are primarily held by the wealthy or ruling class. Derived from the words "pluto," meaning wealth, and "archy," meaning rule, the term describes a society where economic resources and financial status determine political power and decision-making.
In a plutarchy, the wealthy elite control and manipulate the political institutions and policies to protect their own interests, often at the expense of the majority. The privileged class typically becomes synonymous with political leadership and representatives, perpetuating a system that favors the wealthy minority. The economic power held by this elite group often allows them to shape policies and laws in their favor, while marginalizing the lower socioeconomic classes.
Plutarchy can lead to significant wealth inequality, as the wealthy use their power to maintain and increase their financial advantages. This can result in the majority of the population experiencing limited social mobility and diminished access to opportunities. Critics argue that plutarchies can exacerbate social divisions and perpetuate systemic injustices.
The term "plutarchy" is sometimes used interchangeably with terms such as oligarchy or aristocracy, which also describe systems where a privileged few hold political power. However, "plutarchy" specifically highlights the centrality of wealth in determining political authority and control.