timocracy

Timocracy is a form of government where a certain amount of property is required to hold office, or where love of honor is the ruling principle. The term originates from Greek words meaning "price, value, honor" and "rule".1

Plato, in his work The Republic, discussed various forms of government, including timocracy. He analyzed how wealth and the pursuit of honor could lead to societal divisions and instability within a state. His philosophical explorations into ideal governance and critiques of existing systems laid groundwork for Western political thought.23