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The term plutocracy is generally used as a pejorative to describe or warn against an undesirable condition. [3] [4] Throughout history, political thinkers and philosophers have condemned plutocrats for ignoring their social responsibilities, using their power to serve their own purposes and thereby increasing poverty and nurturing class conflict and corrupting societies with greed and hedonism.
Rule by the wise; a system of governance in which decision making is in the hands of philosophers (as advocated by Plato) Plutocracy: Rule by the wealthy; a system wherein governance is indebted to, dependent upon or heavily influenced by the desires of the rich. Plutocratic influence can alter any form of government.
The Pyramid of Capitalist System is a common name of a 1911 American cartoon caricature critical of capitalism, copied from a Russian flyer of c. 1901. [1] [2] The graphic focus is on stratification by social class and economic inequality. [3] [4] The work has been described as "famous", [5] "well-known and widely reproduced". [3]
Both studies — and many others like them — found that at least one-third of the country now has a negative view of capitalism, with the youngest Americans ages 24 and under either evenly split ...
For Amazon, Google, Facebook and all of what he calls “cloud capitalists,” there is no conversation of economic exchange that isn’t mediated by the algorithm, “which is owned by one man ...
Finance capitalism is the subordination of processes of production to the accumulation of money profits in a financial system. In their critique of capitalism, Marxism and Leninism both emphasise the role of finance capital as the determining and ruling-class interest in capitalist society, particularly in the latter stages. [149] [150]
Although laissez-faire has been commonly associated with capitalism and anarcho-capitalists advocate such a system, there is a similar left-wing or socialist laissez-faire [218] [219] system called free-market anarchism, also referred to as free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism.
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.The defining characteristics of capitalism include private property, capital accumulation, competitive markets, price systems, recognition of property rights, self-interest, economic freedom, work ethic, consumer sovereignty, decentralized decision-making, profit motive, a ...