definition of plutocracy
Plutocracy is the rule by the super-rich international capitalists and their retainers; the press, office holders, spies and thugs. In a plutocracy the middle class is controlled though taxation, low-cost imports (free trade) and corrupt politicians and in a communist system the middle class is exterminated. The perfect plutocracy consists of two classes onlyâthe plutocrats and their overseers and the subsistence-level poor. The degree of economic inequality is staggering as is the low level of social mobility. Although the word plutocracy has disappeared from some modern dictionaries, as if it no longer exists, it is in fact the only name to correctly describe many modern governments.