The group is chosen because of favorable factors such as military capability, wealth, race, political connections, religion, and education. Plutocracy, unlike the other terms, is usually derogatory as a rule it implies concentration of power in the hands of the wealthy and, in consequence, a withholding of power from those to whom it properly belongs, either the people or their representatives. An oligarchy is a system of government in which a small group runs the government. Its more common implication is power vested in a privileged class, especially in a nobility that is regarded as superior by birth and breeding and that by owning or controlling much of the land exercises direct control over a large portion of the population in this sense Great Britain was until recent generations an aristocracy. However, the main difference between plutocracy and aristocracy is their ruling class plutocracy is the government by the wealthy whereas aristocracy is the government by the nobility, the hereditary ruling class. On the other hand, oligarchy is a form of government in which the power rests with a small group of people. Plutocracy and aristocracy are two forms of oligarchy, which refers to the rule by an elite few.
The government definitely has a say in all the business arrangements. As a matter of fact, in autocracy, economy is either a command or traditional system. The meaning of plutocracy differs in that only wealthy people, irrespective of the type of influences they hold, rule the system. Oligarchy defines a political structure in which power is concentrated within a small group of people. Oligarchy is the most inclusive term referable to a government or state where the power is openly or virtually in the hands of a few men.Īristocracy basically and historically suggests the rule of the best citizens, but it retains this implication chiefly when it is used in distinction from oligarchy and the latter connotes power seized or held for selfish or corrupt reasons. The economy in the case of autocracy differs from that of oligarchy. Oligarchy refers to a government system where the governance is under the control of a small group of privileged people. The terms are often applied to governments or states that are ostensibly monarchies or republics but are, in the opinion of the user, actually governed by a clique.
OLIGARCHY VS. PLUTOCRACY FREE
After the Supreme Court ruled in favor of Citizens United, the United States became a country where money replaced free speech and corporations replaced people. Some American politicians seem to want this form of government. Oligarchy, aristocracy, plutocracy are comparable when they mean government by, or a state governed by, the few. An Oligarchy is a government in which a small group exercises control especially for corrupt and selfish purposes.
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