Plutocracy and Socialism

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Difference between Plutocracy and Socialism

Plutocracy vs. Socialism

A plutocracy (πλοῦτος,, 'wealth' + κράτος,, 'rule') or plutarchy is a society that is ruled or controlled by people of great wealth or income. Socialism is a range of economic and social systems characterised by social ownership and democratic control of the means of production as well as the political theories and movements associated with them.

Anarchism

Anarchism is a political philosophy that advocates self-governed societies based on voluntary institutions.

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Capitalism

Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Class conflict

Class conflict, frequently referred to as class warfare or class struggle, is the tension or antagonism which exists in society due to competing socioeconomic interests and desires between people of different classes.

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Communist International

The Communist International (Comintern), known also as the Third International (1919–1943), was an international communist organization that advocated world communism.

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Financial capital

Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.

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Joseph Stiglitz

Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University.

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Meritocracy

Meritocracy (merit, from Latin mereō, and -cracy, from Ancient Greek κράτος "strength, power") is a political philosophy which holds that certain things, such as economic goods or power, should be vested in individuals on the basis of talent, effort and achievement, rather than factors such as sexuality, race, gender or wealth.

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Noam Chomsky

Avram Noam Chomsky (born December 7, 1928) is an American linguist, philosopher, cognitive scientist, historian, social critic and political activist.

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Political philosophy

Political philosophy, or political theory, is the study of topics such as politics, liberty, justice, property, rights, law, and the enforcement of laws by authority: what they are, why (or even if) they are needed, what, if anything, makes a government legitimate, what rights and freedoms it should protect and why, what form it should take and why, what the law is, and what duties citizens owe to a legitimate government, if any, and when it may be legitimately overthrown, if ever.

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Progressivism

Progressivism is the support for or advocacy of improvement of society by reform.

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Socialism

Socialism is a range of economic and social systems characterised by social ownership and democratic control of the means of production as well as the political theories and movements associated with them.

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Wealth

Wealth is the abundance of valuable resources or valuable material possessions.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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