Kleptocracy

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Kleptocracy, alternatively cleptocracy or kleptarchy, from Greek: κλέπτης (thieve) and κράτος (rule), is a term applied to a government subject to control fraud that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats), via the embezzlement of state funds at the expense of the wider population, sometimes without even the pretense of honest service. The term means "rule by thieves". Not an "official" form of government (such as democracy, republic, monarchy, theocracy) the term is a pejorative for governments perceived to have a particularly severe and systemic problem with the selfish misappropriation of public funds by those in power.

Contents

Characteristics

Kleptocracies are generally associated with corrupt forms of authoritarian governments, particularly dictatorships, oligarchies, military juntas, or some other form of autocratic and nepotist government in which no outside oversight is possible, due to the ability of the kleptocrat(s) to personally control both the supply of public funds and the means of determining their disbursal. Kleptocratic rulers typically treat their country's treasury as though it were their own personal bank account, spending the funds on luxury goods as they see fit. Many kleptocratic rulers also secretly transfer public funds into secret personal numbered bank accounts in foreign countries in order to provide them with continued luxury if/when they are eventually removed from power and forced to flee the country.

Kleptocracy is most common in third-world countries where the economy (often as a legacy of colonialism) is dominated by resource extraction. Such incomes constitute a form of economic rent and are therefore easier to siphon off without causing the income itself to decrease (for example, due to capital flight as investors pull out to escape the high taxes levied by the kleptocrats).

Effects

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