(My Take)
- by Hénock Gugsa -
Well, let me start with "Capitalism". It is a set of economic beliefs that holds fast to the notion that a free and untethered market place for goods and services will produce the utmost benefit to both consumers and producers. The guiding principle here is "laissez-faire," which translates as Hands-Off, meaning Government(s) should basically have little or no influence in the production or sale of commodities. The role of Government should be to facilitate and accommodate the marketplace to flourish (by providing defense, protective laws and lax regulations, low taxes, and favorable international trade positions).
Plutocracy and Oligarchy are almost synonymous, in my view. They vary from each other only in size and scope. They are similar in the fact that neither one is an adherent of democracy. A truly representative government that advocates and looks out for the people is considered almost an anathema by both groups!
A plutocracy consists of a small group of economic heavy-weights that have strong influence in the economic and political direction of a nation. These plutocrats can be CEOs of large multinationals, banks, conglomerates, etc. They are shakers and movers ... think of Fortune 500. However, these guys don't necessarily have to be the same folk or corporations for ever. From decade to decade, you may have different guys ruling the roost.
On the other hand, oligarchy is a narrower set of players. It is indeed a very few number of individuals who wield enormous sway on a nation's economy and its political path. They are very powerful because of their enormous and bottomless source of wealth. Two supreme examples are the multi-billionaires of today : The Koch Brothers, and The Walton family. These oligarchs have more staying power than plutocrats. In fact, plutocrats may be working for them.
The above is totally my view and assessment of these matters.
Plutocracy and Oligarchy are almost synonymous, in my view. They vary from each other only in size and scope. They are similar in the fact that neither one is an adherent of democracy. A truly representative government that advocates and looks out for the people is considered almost an anathema by both groups!
A plutocracy consists of a small group of economic heavy-weights that have strong influence in the economic and political direction of a nation. These plutocrats can be CEOs of large multinationals, banks, conglomerates, etc. They are shakers and movers ... think of Fortune 500. However, these guys don't necessarily have to be the same folk or corporations for ever. From decade to decade, you may have different guys ruling the roost.
On the other hand, oligarchy is a narrower set of players. It is indeed a very few number of individuals who wield enormous sway on a nation's economy and its political path. They are very powerful because of their enormous and bottomless source of wealth. Two supreme examples are the multi-billionaires of today : The Koch Brothers, and The Walton family. These oligarchs have more staying power than plutocrats. In fact, plutocrats may be working for them.
The above is totally my view and assessment of these matters.
