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Timocracy
A timocracy (from Greek τιμή ''timē'', "honor, worth" and -κρατία ''-kratia'', "rule") in Aristotle's ''Politics'' is a state where only property owners may participate in government. More advanced forms of timocracy, where power derives entirely from wealth with no regard for social or civic responsibility, may shift in their form and become a plutocracy where the wealthy rule. Greece Solon introduced the ideas of ''timokratia'' as a graded oligarchy in his Solonian Constitution for Athens in the early 6th century BC. His was the first known deliberately implemented form of timocracy, allocating political rights and economic responsibility depending on membership of one of four tiers of the population. Solon defined these tiers by measuring how many bushels of produce each man could produce in a year, namely: * Pentacosiomedimnoi – "Men of the 500 bushel", those who produced 500 bushels of produce per year, could serve as generals in the army * Hippeis &nda ...
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Thetes
The Solonian constitution was created by Solon in the early 6th century BC. At the time of Solon the Athenian State was almost falling to pieces in consequence of dissensions between the parties into which the population was divided. Solon wanted to revise or abolish the older laws of Draco. He promulgated a code of laws embracing the whole of public and private life, the salutary effects of which lasted long after the end of his constitution. Under Solon's reforms, all debts were abolished and all debt-slaves were freed. The status of the ''hectemoroi'' (the "one-sixth workers"), who farmed in an early form of serfdom, was also abolished. These reforms were known as the ''Seisachtheia''. Solon's constitution reduced the power of the old aristocracy by making wealth rather than birth a criterion for holding political positions, a system called ''timokratia'' (timocracy). Citizens were also divided based on their land production: pentacosiomedimnoi, hippeis, zeugitae, and thetes ...
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Oligarchy
Oligarchy (; ) is a conceptual form of power structure in which power rests with a small number of people. These people may or may not be distinguished by one or several characteristics, such as nobility, fame, wealth, education, or corporate, religious, political, or military control. Throughout history, power structures considered to be oligarchies have often been viewed as tyrannical, relying on public obedience or oppression to exist. Aristotle pioneered the use of the term as meaning rule by the rich, for which another term commonly used today is plutocracy. In the early 20th century Robert Michels developed the theory that democracies, like all large organizations, tend to turn into oligarchies. In his "Iron law of oligarchy" he suggests that the necessary division of labor in large organizations leads to the establishment of a ruling class mostly concerned with protecting their own power. Minority rule The exclusive consolidation of power by a dominant religious or e ...
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Nicomachean Ethics
The ''Nicomachean Ethics'' (; ; grc, Ἠθικὰ Νικομάχεια, ) is Aristotle's best-known work on ethics, the science of the good for human life, which is the goal or end at which all our actions aim. (I§2) The aim of the inquiry is political science and the master art of politics. (I§1) It consists of ten books or scrolls, understood to be based on notes from his lectures at the Lyceum. The title is often assumed to refer to his son Nicomachus, to whom the work was dedicated or who may have edited it (although his young age makes this less likely). Alternatively, the work may have been dedicated to his father, who was also called Nicomachus. The work plays a pre-eminent role in explaining Aristotelian ethics. The theme of the work is a Socratic question previously explored in the works of Plato, Aristotle's friend and teacher, about how men should best live. In his ''Metaphysics'', Aristotle describes how Socrates, the friend and teacher of Plato, had turned philo ...
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Zeugitae
The Solonian constitution was created by Solon in the early 6th century BC. At the time of Solon the Athenian State was almost falling to pieces in consequence of dissensions between the parties into which the population was divided. Solon wanted to revise or abolish the older laws of Draco. He promulgated a code of laws embracing the whole of public and private life, the salutary effects of which lasted long after the end of his constitution. Under Solon's reforms, all debts were abolished and all debt-slaves were freed. The status of the ''hectemoroi'' (the "one-sixth workers"), who farmed in an early form of serfdom, was also abolished. These reforms were known as the ''Seisachtheia''. Solon's constitution reduced the power of the old aristocracy by making wealth rather than birth a criterion for holding political positions, a system called ''timokratia'' (timocracy). Citizens were also divided based on their land production: pentacosiomedimnoi, hippeis, zeugitae, and thetes ...
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Pentacosiomedimnoi
The Solonian constitution was created by Solon in the early 6th century BC. At the time of Solon the Athenian State was almost falling to pieces in consequence of dissensions between the parties into which the population was divided. Solon wanted to revise or abolish the older laws of Draco. He promulgated a code of laws embracing the whole of public and private life, the salutary effects of which lasted long after the end of his constitution. Under Solon's reforms, all debts were abolished and all debt-slaves were freed. The status of the ''hectemoroi'' (the "one-sixth workers"), who farmed in an early form of serfdom, was also abolished. These reforms were known as the ''Seisachtheia''. Solon's constitution reduced the power of the old aristocracy by making wealth rather than birth a criterion for holding political positions, a system called ''timokratia'' (timocracy). Citizens were also divided based on their land production: pentacosiomedimnoi, hippeis, zeugitae, and thetes ...
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Solonian Constitution
The Solonian constitution was created by Solon in the early 6th century BC. At the time of Solon the Athenian State was almost falling to pieces in consequence of dissensions between the parties into which the population was divided. Solon wanted to revise or abolish the older laws of Draco. He promulgated a code of laws embracing the whole of public and private life, the salutary effects of which lasted long after the end of his constitution. Under Solon's reforms, all debts were abolished and all debt-slaves were freed. The status of the ''hectemoroi'' (the "one-sixth workers"), who farmed in an early form of serfdom, was also abolished. These reforms were known as the '' Seisachtheia''. Solon's constitution reduced the power of the old aristocracy by making wealth rather than birth a criterion for holding political positions, a system called ''timokratia'' ( timocracy). Citizens were also divided based on their land production: pentacosiomedimnoi, hippeis, zeugitae, and thetes. ...
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Plutocracy
A plutocracy () or plutarchy is a society that is ruled or controlled by people of great wealth or income. The first known use of the term in English dates from 1631. Unlike most political systems, plutocracy is not rooted in any established political philosophy. Usage The term ''plutocracy'' is generally used as a pejorative to describe or warn against an undesirable condition. Throughout history, political thinkers and philosophers have condemned plutocrats for ignoring their social responsibilities, using their power to serve their own purposes and thereby increasing poverty and nurturing class conflict and corrupting societies with greed and hedonism. Examples Historic examples of plutocracies include the Roman Empire, some city-states in Ancient Greece, the civilization of Carthage, the Italian merchant city states of Venice, Florence, Genoa, the Dutch Republic and the pre-World War II Empire of Japan (the '' zaibatsu''). According to Noam Chomsky and Jimmy Carter, ...
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Government
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixe ...
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Personal Property
property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another. Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings). Movable property on land (larger livestock, for example) was not automatically sold with the land, it was "personal" to the owner and moved with the owner. The word ''cattle'' is the Old Norman variant of Old French ''chatel'', chattel (derived from Latin ''capitalis'', “of the head”), which was once synonymous with general movable personal property. Classifications Personal property may be classified in a variety of ways. Intangible Intangible personal property or "intangibles" refers to personal property that cannot actually be moved, touched or felt, but instead repr ...
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Graduated Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.Sommerfeld, Ray M., Silvia A. Madeo, Kenneth E. Anderson, Betty R. Jackson (1992), ''Concepts of Taxation'', Dryden Press: Fort Worth, TX The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor ...
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Connecticut Pound
The pound was the currency of Connecticut until 1793. Initially, sterling coin circulated along with foreign currencies. This was supplemented by local paper money from 1709. Although the local currency was denominated in £sd, it was worth less than sterling, with 1 Connecticut shilling = 9 pence sterling. This rated the Spanish dollar at 6 Connecticut shillings (compared to 4 shillings 6 pence sterling). The first issue of notes is known as the "Old Tenor" issue. Due to over issue, the value of the Old Tenor notes fell relative to silver coins. In 1740, a second series of paper money was introduced, known as the "New Tenor" issue. These were worth 3½ times as much as the same denomination of Old Tenor notes. A further issue of 1755, known as "Lawful Money", replaced the Old and New Tenor issues at the rates of 1 Lawful Money shilling = 2.1 New Tenor shillings = 7.33 Old Tenor shillings. The State of Connecticut issued Continental currency denominated in both £sd and Spanish ...
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£sd
£sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the British Empire and subsequently the Commonwealth. The abbreviation originates from the Latin currency denominations '' librae'', ''solidi'', and ''denarii''. In the United Kingdom, these were referred to as '' pounds'', '' shillings'', and '' pence'' (''pence'' being the plural of ''penny''). Although the names originated from popular coins in the classical Roman Empire, their definitions and the ratios between them were introduced and imposed across Western Europe by the Emperor Charlemagne. The £sd system was the standard across much of the European continent (France, Italy, Germany, etc.) for nearly a thousand years, until the decimalisations of the 18th and 19th centuries. As the United Kingdom remained one of the few countries re ...
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