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1.
1) Rule by those who are of average or below average competence.
2) A society in which people with little (if any) talent and skill are dominant and highly influential.
3) A social or administrative system which is like an antithesis to a meritocracy.

Eg 1) "With the presidency of George W. Bush, America has completed its transition from democracy to mediocracy."

2)"The success of Big Brother is indicative of our present society being a in a state of mediocracy."
by St.O. June 14, 2006
 
2.
1- Rule of and by the mediocre.

2- Any society whose system of government is a mediocracy.
The 41st through 44th presidents of the United States--George Herbert Walker Bush, William Jefferson Clinton, George W. Bush and Barack Hussein Obama--make up the mediocracy that governed the U.S. for the last part of the 20th and early 21st Centuries.
by MondoReb January 15, 2011
 
3.
a comedy web series about college, careers, and the mediocre fluff in between, featuring a dopey film student, a hot latina, and a whole bunch of other misfits
"Hey Steve, did you happen to catch the last episode of Mediocracy on MediocracyTV.com? I heard it was a real knee-slapper."
by allthethings87 March 05, 2013
 
4.
(mediocre & -cracy), government of & responsive to mediocrity; rule by the most exceptionally average, superfluously adequate, or quintessentially ordinary citizens; government of the average, by the average, & for the average.
Is this leadership of the best & the brightest, or is this Mediocracy?
by Darth Johnny December 02, 2010
 
5.
a system of government by mediocre people.
A mediocracy cannot make headway.
by uttam maharjan May 29, 2012
 
6.
What occurs when the Bears and Saints play on Thursday Night Football.
The Bears and Saints put on a stunning display of mediocracy, with no victor emerging after four quarters of play.
by Sexy Bob K December 11, 2008