plutocrats

A plutocrat is an individual who holds political power or exerts decisive influence primarily through wealth. The word derives from the Greek ploutos, wealth, and kratos, rule. In theory, a plutocracy is a system in which wealth determines political power, and a plutocrat may be a key actor within such a system or a member of a ruling class defined by wealth rather than birth.

Plutocrats influence public policy through various channels, including campaign contributions, ownership or control of media and large corporations, lobbying, and philanthropy. Historically, periods of rapid wealth accumulation have been accompanied by heightened political influence of business leaders; in the United States during the late 19th and early 20th centuries, industrial magnates were viewed as critical political actors. In contemporary democracies, critics argue that wealth concentration can translate into outsized sway over legislation and regulatory outcomes, while supporters contend that wealth owners can be productive, create jobs, and drive innovation.

Scholars describe a spectrum from formal plutocracy to informal influence within larger political systems. Quantitative studies often use campaign finance data, media ownership, or corporate lobbying as indicators of plutocratic power. The term is frequently used in public discourse to critique governance perceived as favoring the wealthy.

Plutocracy is distinct from oligarchy (rule by a small elite), although the two concepts overlap. It is also distinct from technocracy (rule by experts) and from meritocratic ideals. The label is often normative, applied to criticism of perceived unequal influence rather than a formal constitutional arrangement.