Definition, Meaning & Synonyms

plutonomy

noun

ploo-TON-uh-mee

Definition

An economic system or condition where the economy is heavily influenced by the wealthy and the concentration of wealth among a small elite.

Examples

The rapid rise of plutonomy in certain countries has led to increased wealth inequality.
Critics argue that plutonomy undermines democracy by giving disproportionate power to the wealthy.

Meaning

Plutonomy refers to a situation where the rich have significant control over economic policy and fiscal power, affecting the distribution of resources and wealth in society.