Both Oligarchy and Plutocracy are government systems ruled and controlled by minorities.Similarities Between Oligarchy and Plutocracy Moreover, at present, this term is sometimes used in a pejorative sense to refer to societies rooted in state-corporate capitalism which prioritize the accumulation of wealth over other interests. Consequently, there is grave inequality and injustice to the common public in this form of a government. Likewise, this wealthy ruling minority will govern the general public in a way that will increase their wealth in direct or indirect measures. In other words, the source of the governing power of this ruling class is their great income or wealth. Hence, plutocracy means the rule or command by the wealthy class. The term plutocracy is derived from the Greek word Ploutokratia meaning rule of wealth. Hence, being wealthy is the primary necessity to belong to this minority ruling class in this system of government. Plutocracy refers to a government system ruled by a set of people having great wealth and income. They rule in a way their agendas are fulfilled directly or indirectly. Moreover, oligarchies have often been regarded as tyrannical as they disregard the public opinion and exert oppression on the public according to the wishes of this minority ruling group. Moreover, Aristotle used this term to explain the minority rule, especially when it is not by good rulers who rule unjustly. Hence, in brief, oligarchy means the rule or governance by a privileged few. The term oligarchy is derived from the Greek word Oligarkhia, which means ‘to rule of command by a few’. Moreover, their rule is typically passed through inheritance however, inheritance doesn’t always count in this. Hence, the sovereign power of the state or country is vested in this small group of people that may usually comprise of wealthy people, elites, landowners, royalty, noblemen, high-ranking military officers, renowned academics, religious people, or philosophers. In other words, this refers to a minority rule controlling the whole affairs of a country or state. Thus, this ruling system is very limited as they don’t represent the common public. Oligarchy refers to the government system ruled by a small set of people, either social elites, wealthy nobles, religious and martial nobilities, etc. – Comparison of Key Differences Key TermsĪdministration, Government, Oligarchy, Plutocracy, Politics What is the Difference Between Oligarchy and Plutocracy What are the Similarities Between Oligarchy and PlutocracyĤ. In other words, they represent two forms of government systems. Oligarchy and plutocracy describe two forms of the ruling members of a country or an organization. Hence, plutocracy is a form of oligarchy, but plutocracy distinguishes the particular ruling minority by their great income or wealth. The main difference between oligarchy and plutocracy is that oligarchy is the rule by a privileged minority whereas plutocracy is the rule by a wealthy minority.

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