Plutocracy

Explanation

A plutocracy is a form of governance — formal or informal — where wealth determines political influence. It differs from oligarchy in that the defining criterion is specifically money rather than family, military, or ideological belonging. Critics of campaign finance systems in the United States, for instance, argue that heavy donor influence amounts to plutocratic governance in practice, even within a formally democratic system. No country formally declares itself a plutocracy; the term is used analytically to describe systems where the wealthy exercise disproportionate political power.