define plutocracy.
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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 systems such as democracy, liberalism, socialism, communism or anarchism, plutocracy is not rooted in an established political philosophy.
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Plutocracy is a government controlled exclusively by the wealthy either directly or indirectly. A plutocracy allows, either openly or by circumstance, only the wealthy to rule.
Famous examples of plutocracies include Ancient Rome, the pre-World War II Empire of Japan, and the pre-Revolutionary Kingdom of France.
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