Plutocracy and democracy

Someone on a facebook page asked what is plutocracy.  I don't remember whether it was about all the money in politics or not.  I answered that plutocracy meant rule of the wealthy.  We certainly see it with the Koch brothers and Michael Bloomberg.  The greatest danger of plutocracy is that it drives out participation by ordinary people, the essence of democracy.

I looked up plutocracy on Wiktionary and found this wonderful quote by G.K. Chesterton:

"Modernity is not democracy; machinery is not democracy; the surrender of everything to trade and commerce is not democracy. Capitalism is not democracy; and is admittedly, by trend and savour, rather against democracy. Plutocracy by definition is not democracy. But all these modern things forced themselves into the world at about the time, or shortly after the time, when great idealists like Rousseau and Jefferson happened to have been thinking about the democratic ideal of democracy."