Plutocracy Law and Legal Definition

Plutocracy is the rule of the wealthy. In a plutocracy, the degree of economic inequality is high while the level of social mobility is low. The term plutocracy is generally used to describe these two distinct concepts: one of a historical nature and one of a modern political nature. The former indicates the political control of the state by an oligarchy of the wealthy. Before the equal voting rights movement managed to end it in the early 20th century, many countries used a system where rich persons had more votes than poor.