Page "Plutocracy" Paragraph 11

In modern times, the term is sometimes used pejoratively to refer to societies rooted in state-corporate capitalism or which prioritize the accumulation of wealth over other interests.

According to Kevin Phillips, author and political strategist to U. S. President Richard Nixon, the United States is a plutocracy in which there is a " fusion of money and government.

" A similar position was taken by the Fourth International in January 1941, which stated " Roosevelt ’ s administration, which claims to be democratic, is really the representative of these piratic plutocrats " and that " the twin capitalist parties control all the main avenues for reaching the masses ( the press, radio, halls, etcetera ... they collect millions from their wealthy masters and spend them to bamboozle the public and buy elections ".