nacocracia

Best definition
nacocracia
Rule by nacos, as in ignorant or populist leaders who appeal to the lower classes to advance their political agendas.

Primarily refers to Latin American populist leaders such as Andres Manuel Lopez Obrador, Evo Morales, Hugo Chavez, etc.

All over Latin America populist demagogues are taking over; es la nacocracia!
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