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Plutocracy - Essay Example

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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…
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Download file to see previous pages... 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 ...Download file to see next pagesRead More
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