Sentence:  Modernity is not democracy; machinery is not democracy; the surrender of everything to trade and commerce is not democracy. Capitalism is not democracy; and is admittedly, by trend and savour, rather against democracy. <WSD>Plutocracy</WSD> by definition is not democracy. But all these modern things forced themselves into the world at about the time, or shortly after the time, when great idealists like Rousseau and Jefferson happened to have been thinking about the democratic ideal of democracy. 
Meaning of the word marked with <WSD> tags:  Government by the wealthy.