Viking2 a regular at Kiwiblog reports today the acceptance of a new word.
Ineptocracy (in-ep-to-cr-acy) :
A system of Government where the least capable of leading 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.
Fits well with Dame Margaret Thatcher's definition of the future of Socialism.
Socialism will only last so long as there is other peoples money to fund it