Crossword Genius

Icy world — Arctic winds — run by wealthy people? (11)

Ross

I believe the answer is:

plutocratic

I'm a little stuck... Click here to teach me more about this clue!

'icy' is the definition.
Although both the answer and definition are adjectives, I can't understand how they can define each other.

'world arctic winds run by wealthy people?' is the wordplay.
I cannot quite understand how this works, but
an anagram of 'arctic' is 'cratic' which is within the answer.
The remaining letters 'pluto' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for plutocratic that I've seen before include "With power deriving from wealth" , "using money for power-tool" , "Relating to rule by the rich" , "Powerful and wealthy" , "Like a fat cat" .)

I've seen this clue in The Times.
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