Sometimes, we need a new word to describe new trends. But to describe recent events that mirror the rise of demagogues and dictators in the past, an old word will do. Many thanks to my friend, Canadian economist Larry Willmore, for posting the following on his blog “Thought du Jour.”
1829, “government by the worst element of a society,” coined on analogy of its opposite, aristocracy, from Greek kakistos “worst,” superlative of kakos “bad” (which perhaps is related to the general IE word for “defecate;” see caco- ) + -cracy.
Source: Online Etymology Dictionary. Retrieved November 25, 2016 from Dictionary.com website