A new big word....

[observe]

Ineptocracy -:

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.:sting:

 

[Diamondhitch]

Obviously this is not a new development but more of a reclassification of a well established system!