The wealthy elite refers to a small group of people who hold an outsized share of a society's wealth, power, and influence. They often have significant control over economic resources and political decisions.
Think of the wealthy elite as the "captains" on a soccer team. Just like how these captains have more authority and influence over the game's outcome, the wealthy elite have more control over societal decisions and directions.
Oligarchy: A form of government where power is in the hands of a few people or in a dominant class or group within the society.
Plutocracy: A system where governance is directly correlated with wealth; those with more money have more power.
Income Inequality: The unequal distribution of household or individual income across various participants in an economy.
Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.