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Analysis of Plutocracy - Essay Example

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This essay discusses a definition of a system or a society which is dominated and ruled by the negligible minority of the citizens who are the wealthiest as plutarchy. In this paper, the focus shall be laid on the views that are held by different individuals…
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Analysis of Plutocracy
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Analysis of Plutocracy
Plutocracy, which is also referred to as plutarchy is a definition of a system or a society which is dominated and ruled by negligible minority of the citizens who are the wealthiest. The term has in most cases been used pejoratively in attempt to explain certain conditions which are undesirable. In this paper, focus shall be laid on the views that are held by different individuals as displayed in the article.
The first article is by Michael Brenner, a Senior Fellow at the Center for Transatlantic Relations. According to Brenner, Plutocracy is the rule of the rich. He notes that such rule can take varied forms. First, that some of the individuals who are at the helm of authority are rich and it is the wealth they possess that defines why they are in the high offices. The authority which such people exercise works in favor and the interest of the rich people. The actions that individuals in offices take are influenced by them since they have the primary influence on who hold the offices. Brenner notes that these aspects of plutocracy would not necessarily be exclusive. At some point, the government of the rich and for the rich may not be actually run by the rich.
Brenner identifies certain circumstances in which United States may be seen to be practicing plutocracy. One of the features of USA for the past decade is the gross income redistribution. He points at the statistics that points that since 1973, approximately 80% of the wealth generated nationally has gone to the 2% of the upper class America. Brenner points a few matters that define Plutocracy, including the suspension of equal application and protection by the law and when mega banks make profits which are illicit through laundering of money for the drug cartels.
The second article that the study needs to examine is the Robert Reich article in which he discusses The Koch Brothers and the Danger of American Plutocracy. In his argument, he points that blame should not be directed towards Charles and David Koch for having more wealth compared to the 40% of the Americans at the bottom put together. He notes that the two individuals have played by the rules and have obeyed the law, even with their petrochemical empire. Reich points that the point of departure from the rules is the efforts that the two brothers are making to use their wealth to change those particular rules in their favor. This action would be directly undermining the democracy that America has endeavored to protect.
Reich does not see any problem with the accumulation of wealth as the Koch brothers have, but he notes that problem always arise with the political system, which always has a tendency to bend towards where money is. As such, there is a continual combination of the two, leads to even greater accumulation of wealth and concentration of political power. This is what had tilted the playing field in favor of the Koch brothers against other Americans.
References
Brenner, M. (2013, April 1). Plutocracy in America. The Huffington Post. Retrieved May 6, 2014, from http://www.huffingtonpost.com/michael-brenner/plutocracy-in-america_b_2992965.html
Reich, R. (2014). The Koch Brothers and the Danger of AmericanPlutocracy. BillMoyerscom. Read More
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