Kleptocracy (κλέπτω kléptō, “I steal”, and -κρατία -kratía from κράτος krátos, “power, rule”) is a government with corrupt leaders that use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and political powers.
Kleptocrats may use political leverage to pass laws that enrich them or their constituents and they usually circumvent the rule of law.
Plutocracy is when a society that is ruled or controlled by people of great wealth or income.
Oligarchy is a form of power structure in which power rests with a small number of people distinguished by wealth, education, religious status etc.
Kleptocracies are generally associated with dictatorships, oligarchies, military juntas, or other forms of autocratic and nepotist governments in which external oversight is impossible or does not exist. This lack of oversight can be caused or exacerbated by the ability of the kleptocratic officials to control both the supply of public funds and the means of disbursal for those funds.
Kleptocratic rulers often treat their country’s treasury as a source of personal wealth, spending funds on luxury goods and extravagances as they see fit. Many kleptocratic rulers secretly transfer public funds into hidden personal numbered bank accounts in foreign countries to provide for themselves if removed from power.
There is 5 Myth about Kleptocracy:
- Kleptocracies exist mostly in the developing world.
The United States is already a kleptocracy.
American institutions will shield us from kleptocracy.
Donald Trump is setting himself up to rule as a kleptocrat.