Word of the Day: plutocratThis word has appeared in three articles on NYTimes.com in the past year. Can you use it in a sentence
plutocrat /ˌpludəˈkræt/ nounOne who exercise powet of virtue of wealth
The word plutocrat has appeared in three articles on NYTimes.com in the past year, including on April 11 in the Opinion essay
When rich people can afford to buy and operate big yachts, they do. Indeed, yachts are a highly visible indicator of inequality, the concentration of income and wealth in the hands of the few. The Gilded Age was marked by a proliferation of ever bigger, ever more elaborately furnished yachts; when J.P. Morgan built a large steam yacht, its 1898 launch was featured in The New York Times.
… Owning and operating a really big yacht is, however, as clear an example as you’re likely to find of Thorstein Veblen’s theory of conspicuous consumption — spending intended to demonstrate one’s wealth and status, rather than for the direct satisfaction it yields. Indeed, the New Yorker article suggests that demand for superyachts really took off once owning your own plane stopped being an effective status symbol: “Once it seemed that every plutocrat had a plane, the thrill was gone.”