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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.
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Conversely, many anarchists do not believe that anarcho-capitalism can be considered to be a part of the anarchist movement due to the fact that anarchism has historically been an anti-capitalist movement and see anarchism as fundamentally incompatible with capitalism because capitalism produces an economic hierarchy.
Kleptocracy is different from plutocracy (rule by the richest) and oligarchy (rule by a small elite). In a kleptocracy, corrupt politicians enrich themselves secretly outside the rule of law , through kickbacks , bribes , and special favors from lobbyists and corporations, or they simply direct state funds to themselves and their associates .
The Politically Incorrect Guide to Capitalism is a 2007 book by Austrian school economist Robert P. Murphy. [1] It is the ninth book in the Regnery Publishing The Politically Incorrect Guides (P.I.G.) series.
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as: Early / monopoly / state monopoly capitalism ; Free trade / monopoly / finance capitalism
The Intelligent Woman's Guide to Socialism and Capitalism is a non-fiction book written by the Irish playwright George Bernard Shaw. The book employs socialist and Marxist thought. It was written in 1928 after his sister-in-law, Mary Stewart Cholmondeley , asked him to write a pamphlet explaining socialism. [ 1 ]
In their study "Piketty and Plutonomy: The Revenge of Inequality" they state that in the long term the drivers of the further concentration of wealth are intact, including globalization and capitalism-friendly governments. However, they warn that in the short-term there is potential for a backlash.