I came across this term ineptocracy this morning while watching CNBC. The hosts had lots of fun with the word saying it is redundant. Here is the definition they quoted and a website with more:
A system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
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