plutonomy
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9.9
- noun
- /pluˈtɑːnəmi/
:
plutonomía
- Many argue that the rise of plutonomy leads to greater inequality and social tension within society.
Examples
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They reached the conclusion that the United States was no longer really a democracy, but had become a plutonomy-- a society controlled exclusively by and for the benefit of the top 1% of the population who now had more financial wealth than the bottom 95% combined.
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The most advanced plutonomies in the world are the most advanced industrial and technological nations, where the major corporations and banks are highly subsidized and protected by the state, as is typical for a state-capitalist society.
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The plutonomy is largely characterized by a lack of a consuming and vibrant middle class.
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Budget deficits are going to become a manifestation of a plutonomy.
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Plutonomies are likely to grow in the future, fed by capitalist-friendly governments, more technology-driven productivity, and globalization.
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In a plutonomy, economic policies favor the wealthy, leaving the middle class struggling to keep up.
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The defining feature of a plutonomy is that the benefits of economic growth are concentrated among a small elite.
Synonyms
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9.0
A society where rich people control the government
Antonyms
How Unequal
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8.9
- Literature
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9.0
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- Specialized
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4.1
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2.2
Surface Forms
Morphology
plutonomy = pluto + nomy
Formally composed of the combining form 'pluto-' (wealth) and the suffix '-nomy' (rule/management); the parts are visible but are not common standalone English words and the meaning is specialized, so an average learner may only partly infer the sense.
Etymology
Plutonomy comes from the Greek root ploutos meaning 'wealth' and the ending -nomy meaning a 'system' or 'rule', as in economy. So a plutonomy is a system where 'wealth' rules and most benefits go to the rich.