What is the concept of plutocracy?

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What is the concept of plutocracy?

The concept of plutocracy refers to a form of government or society in which power is primarily held by the wealthy or the ruling class, who possess significant economic resources and influence. In a plutocracy, the interests and decisions of the wealthy elite often take precedence over the needs and desires of the general population. This system can lead to an unequal distribution of wealth and power, potentially resulting in social and economic disparities.