2 ms·
Petrocracy is a weird term because it is not oil itself the one ruling but the ones who control the oil. We have a term for that, oligarchy.
by 29athrowaway 1y ago
Petrocracy is a weird term because it is not oil itself the one ruling but the ones who control the oil. We have a term for that, oligarchy.
- cyberax 1y agoIt's actually now used in a lot of political science papers. It means a particular combination of autocracy and oil-dependence. It results in especially toxic regimes, that can be kept stable for quite a long time.