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A plutocracy () or plutarchy is a society that is ruled or controlled by people of great wealth or income. The first known use of the term in English dates from 1631. Unlike most political systems, plutocracy is not rooted in any established political philosophy. Usage The term ''plutocracy'' is generally used as a pejorative to describe or warn against an undesirable condition. 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. " Dollarocracy", an anglicised adaptation of the word "plutocracy", may refer to "a specifically American version of plutocracy". Examples Historic examples of plutocracies include the Roman Empire; some city-states in Ancient Greece; the civilization of Carthage; the Italian merchant city-states of Venice, Florence and G ...
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Wealth
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various people in different contexts.Denis "Authentic Development: Is it Sustaina ...
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Italian Renaissance
The Italian Renaissance ( ) was a period in History of Italy, Italian history between the 14th and 16th centuries. The period is known for the initial development of the broader Renaissance culture that spread across Western Europe and marked the transition from the Middle Ages to modernity. Proponents of a "long Renaissance" argue that it started around the year 1300 and lasted until about 1600. In some fields, a Italian Renaissance painting#Proto-Renaissance painting, Proto-Renaissance, beginning around 1250, is typically accepted. The French word (corresponding to in Italian) means 'rebirth', and defines the period as one of cultural revival and renewed interest in classical antiquity after the centuries during what Renaissance humanism, Renaissance humanists labelled as the Dark Ages (historiography), "Dark Ages". The Italian Renaissance historian Giorgio Vasari used the term ('rebirth') in his ''Lives of the Most Excellent Painters, Sculptors, and Architects'' in 1550, bu ...
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Paul Volcker
Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chair of the Federal Reserve, chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely credited with having ended the high levels of inflation seen in the United States throughout the 1970s and early 1980s, with measures known as the ''Volcker shock''. He previously served as the List of presidents of the Federal Reserve Bank of New York, president of the Federal Reserve Bank of New York from 1975 to 1979. President Jimmy Carter nominated him to succeed G. William Miller as Fed chairman and President Ronald Reagan renominated him once. Volcker did not seek a third term at the Fed and was succeeded by Alan Greenspan. After his retirement from the Board, he chaired the Economic Recovery Advisory Board under President Barack Obama from 2009 to 2011 during the subprime mortgage crisis. Early life and education Volcker was born ...
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United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ...
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Jimmy Carter
James Earl Carter Jr. (October 1, 1924December 29, 2024) was an American politician and humanitarian who served as the 39th president of the United States from 1977 to 1981. A member of the Democratic Party (United States), Democratic Party, Carter served from 1971 to 1975 as the 76th governor of Georgia and from 1963 to 1967 in the Georgia State Senate. He was the List of presidents of the United States by age, longest-lived president in U.S. history and the first to reach the age of 100. Born in Plains, Georgia, Carter graduated from the U.S. Naval Academy in 1946 and joined the submarines in the United States Navy, submarine service before returning to his family's peanut farm. He was active in the civil rights movement, then served as state senator and governor before Jimmy Carter 1976 presidential campaign, running for president in 1976 United States presidential election, 1976. He secured the 1976 Democratic National Convention, Democratic nomination as a dark horse li ...
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Noam Chomsky
Avram Noam Chomsky (born December 7, 1928) is an American professor and public intellectual known for his work in linguistics, political activism, and social criticism. Sometimes called "the father of modern linguistics", Chomsky is also a major figure in analytic philosophy and one of the founders of the field of cognitive science. He is a laureate professor of linguistics at the University of Arizona and an institute professor emeritus at the Massachusetts Institute of Technology (MIT). Among the most cited living authors, Chomsky has written more than 150 books on topics such as linguistics, war, and politics. In addition to his work in linguistics, since the 1960s Chomsky has been an influential voice on the American Left, American left as a consistent critic of U.S. foreign policy, Criticism of capitalism, contemporary capitalism, and Corporate influence on politics in the United States, corporate influence on political institutions and the media. Born to Ashkenazi Jew ...
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Zaibatsu
is a Japanese language, Japanese term referring to industrial and financial vertical integration, vertically integrated business conglomerate (company), conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Economy of Japan, Japanese economy from the Meiji period to World War II. A zaibatsu's general structure included a family-owned holding company on top, and a bank which financed the other, mostly industrial subsidiaries within them. Although the zaibatsu played an important role in the Japanese economy beginning in 1868, they especially increased in number and importance following the Russo-Japanese War, World War I, and Japan's subsequent attempt to conquer East Asia and the Pacific Rim during the interwar period and World War II. After World War II, they were dissolved by the Occupation of Japan, Allied occupation forces and succeeded by the ''keiretsu'' (groups of banks, manufacturers, suppliers, and distributors). Equ ...
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Empire Of Japan
The Empire of Japan, also known as the Japanese Empire or Imperial Japan, was the Japanese nation state that existed from the Meiji Restoration on January 3, 1868, until the Constitution of Japan took effect on May 3, 1947. From Japan–Korea Treaty of 1910, 1910 to Japanese Instrument of Surrender, 1945, it included the Japanese archipelago, the Kuril Islands, Kurils, Karafuto Prefecture, Karafuto, Korea under Japanese rule, Korea, and Taiwan under Japanese rule, Taiwan. The South Seas Mandate and Foreign concessions in China#List of concessions, concessions such as the Kwantung Leased Territory were ''de jure'' not internal parts of the empire but dependent territories. In the closing stages of World War II, with Japan defeated alongside the rest of the Axis powers, the Japanese Instrument of Surrender, formalized surrender was issued on September 2, 1945, in compliance with the Potsdam Declaration of the Allies of World War II, Allies, and the empire's territory subsequent ...
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World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the world's countries participated, with many nations mobilising all resources in pursuit of total war. Tanks in World War II, Tanks and Air warfare of World War II, aircraft played major roles, enabling the strategic bombing of cities and delivery of the Atomic bombings of Hiroshima and Nagasaki, first and only nuclear weapons ever used in war. World War II is the List of wars by death toll, deadliest conflict in history, causing World War II casualties, the death of 70 to 85 million people, more than half of whom were civilians. Millions died in genocides, including the Holocaust, and by massacres, starvation, and disease. After the Allied victory, Allied-occupied Germany, Germany, Allied-occupied Austria, Austria, Occupation of Japan, Japan, a ...
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Dutch Republic
The United Provinces of the Netherlands, commonly referred to in historiography as the Dutch Republic, was a confederation that existed from 1579 until the Batavian Revolution in 1795. It was a predecessor state of the present-day Netherlands and the first independent Dutch people, Dutch nation state. The republic was established after seven Dutch provinces in the Spanish Netherlands Dutch Revolt, revolted against Spanish Empire, Spanish rule, forming a mutual alliance against Spain in 1579 (the Union of Utrecht) and declaring their independence in 1581 (the Act of Abjuration). The seven provinces it comprised were Lordship of Groningen, Groningen (present-day Groningen (province), Groningen), Lordship of Frisia, Frisia (present-day Friesland), Lordship of Overijssel, Overijssel (present-day Overijssel), Duchy of Guelders, Guelders (present-day Gelderland), lordship of Utrecht, Utrecht (present-day Utrecht (province), Utrecht), county of Holland, Holland (present-day North Holla ...
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Republic Of Genoa
The Republic of Genoa ( ; ; ) was a medieval and early modern Maritime republics, maritime republic from the years 1099 to 1797 in Liguria on the northwestern Italy, Italian coast. During the Late Middle Ages, it was a major commercial power in both the Mediterranean Sea, Mediterranean and Black Sea. Between the 16th and 17th centuries, it was one of the major financial centres of Europe. Throughout its history, the Genoese Republic established Genoese colonies, numerous colonies throughout the Mediterranean and the Black Sea, including Corsica from 1347 to 1768, Monaco, Gazaria (Genoese colonies), Southern Crimea from 1266 to 1475, and the islands of Lesbos and Chios from the 14th century to 1462 and 1566, respectively. With the arrival of the early modern period, the Republic had lost many of its colonies, and shifted its focus to banking. This was successful for Genoa, which remained a hub of capitalism, with highly developed banks and trading companies. Genoa was known as ' ...
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Republic Of Florence
The Republic of Florence (; Old Italian: ), known officially as the Florentine Republic, was a medieval and early modern state that was centered on the Italian city of Florence in Tuscany, Italy. The republic originated in 1115, when the Florentine people rebelled against the Margraviate of Tuscany upon the death of Matilda of Tuscany, who controlled vast territories that included Florence. The Florentines formed a commune in Rabodo's (Matilda’s successor) successors' place. The republic was ruled by a council known as the Signoria of Florence. The signoria was chosen by the (titular ruler of the city), who was elected every two months by Florentine guild members. During the Republic's history, Florence was an important cultural, economic, political and artistic force in Europe. Its coin, the florin, was the dominant trade coin of Western Europe for large scale transactions and became widely imitated throughout the continent. During the Republican period, Florence was al ...
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