Plutonomy
/pluːˈtɒnəmi/noun
An economic system or society in which wealth and political influence are concentrated among the rich.
Did you know?The word was coined in the 17th century and resurfaced dramatically in a 2005 Citigroup report describing economies driven by affluent consumers.
Etymological Timeline
Proto-Indo-European
PIE
*pleu-
“A reconstructed root associated with flowing or abundance, often linked to Greek ploutos, “wealth.””
Proto-Indo-European
PIE
*nem-
“To distribute, allot, or assign; the root behind Greek nomos, “custom, law, or organized arrangement.””
Ancient Greek
Greek
ploûtos
“Wealth, riches, or abundance.”
Ancient Greek
Greek
nomos
“Law, custom, rule, or an organized system of management.”
17th Century
English
plutonomy
“A coined term for the management or political economy of wealth.”
Modern English
English
plutonomy
“An economy or social order dominated by wealthy people and their interests.”