technocracy

[tek-nok-ruh-see]
noun, plural technocracies for 2, 3.
1.
a theory and movement, prominent about 1932, advocating control of industrial resources, reform of financial institutions, and reorganization of the social system, based on the findings of technologists and engineers.
2.
a system of government in which this theory is applied.
3.
any application of this theory.

Origin:
1919; techno- + -cracy

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
technocracy (tɛkˈnɒkrəsɪ)
 
n , pl -cies
1.  a theory or system of society according to which government is controlled by scientists, engineers, and other experts
2.  a body of such experts
3.  a state considered to be governed or organized according to these principles
 
technocrat
 
n
 
techno'cratic
 
adj

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

technocracy
1919, coined by W.H. Smyth in "Industrial Management" as a name for a new system of government by technical experts, from techno- + Gk. kratia "rule of" (see -cracy).
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
technocracy [(tek-nok-ruh-see)]

A type of society marked by the dominant role of people with specialized technical skills, particularly engineers.

technocracy [(tek-nok-ruh-see)]

The control of government and society by people with technical skills, especially engineers.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Encyclopedia Britannica
Encyclopedia

technocracy

government by technicians who are guided solely by the imperatives of their technology. The concept developed in the United States early in the 20th century as an expression of the Progressive movement and became a subject of considerable public interest in the 1930s during the Great Depression. The origins of the technocracy movement may be traced to Frederick W. Taylor's introduction of the concept of scientific management. Writers such as Henry L. Gannt, Thorstein Veblen, and Howard Scott suggested that businessmen were incapable of reforming their industries in the public interest and that control of industry should thus be given to engineers.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
Technocracy actually advocates an economic system in which cost is directly
  calculated in terms of energy inputs.
Dukakis has both gut-level values and a mastery of management technocracy.
Because they really are trying to opt out of the technocracy and regain more
  supposedly authentic values.
We have a good balance of democracy and technocracy.
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