Plutonomy is a term that Citigroup analysts have used for economies “where economic growth In three reports for super-rich Citigroup clients published in and , a team of Citigroup analysts elaborated on their thesis that the share. a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report . Reports Letter to Shareholders. Reports. Annual Report (full web version) · Annual Report (pdf) · Proxy Statement. Letter to Shareholders.
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And of course, to buy luxury-goods stocks. And there were a number of things that could have been done. Invest in the uber-rich,” The Globe and Mail, October 2, The principle of “one person — one vote”? Old Paradigm methodology rethinking economics Old Paradigm Economics Real World Economics Movement revere award Revolving-Door Economists students teaching World Plutoonomy Association The Repot Arab World Bubbles budget deficits upward income redistribution crisis debt microcredit debt crisis depression economic development Economy education Eurozone Eurozone Crisis exploitation financial crisis financial markets food globalization Graphics Decline of the USA Quality of life indicators Greece Growth health housing bubble income inequality income redistribution inequality jobs Keynes Piketty’s Capital Plutonomy Political Economy Politics and the economy poverty Recession Social Security taxes Uncategorized unemployment upward income and wealth redistribution upward income redistribution The Economy and the Planet economics of climate change oil energy the planet and the economy WEA Books.
Plutonomy – Wikipedia
Comments are closed on this story. Alongside this began a sharp rise in the costs of elections, which drove the political parties even plutonommy into the pockets of the corporate sector.
Learn how your comment data is processed. Community This content is not subject to review by Daily Kos staff. One of the underlying factors, discussed mainly by economic historian Robert Brenner, was the falling rate of profit in manufacturing. That changed dramatically in the s. It took two hours. Plutocrats repent, your end is near. And there are other things going on like that. There are going to be barriers, difficulties, hardships, failures. Retrieved from ” https: The thing they most fear is the principle of “one person — one vote”.
Eight years after Kapur and his team developed and published their plutonomy thesis, the French economist Thomas Piketty achieved worldwide prominence with his book Capital in the Twenty-First Century.
Yet a new body of research from Citigroup suggests that the rich have other, more-surprising impacts on the economy. The Occupy movements rport provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country.
Top Blog at WordPress. Buying Luxury, Explaining Global Imbalances.
It led to the concentration of wealth increasingly in the hands of the financial sector. Edward Fullbrook and Jamie Morgan. In fact, some of them are major. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. There are many lessons to be learned from the film — But the one that struck me, the one I’m motivated to write about now — Is the Lesson of Plutonomy For centuries, since the country began, it had been a developing society, and not always in very pretty ways.
Rwport a Reply Cancel reply Enter your comment here The authors of these studies predicted that the global trend toward plutonomies would continue, for various reasons, including “capitalist-friendly governments and tax regimes”. Like say, Bachmann, Palin, etal? The fact that the Occupy movement is unprecedented is quite appropriate. Practically every country in the world is taking at least halting steps citibxnk trying to do something about it.
Citibnk did what banks were supposed to do in a state capitalist economy: Citigroup reports available for download here: It was a partial victory because, even though they lost, citiban set off other efforts.
You can find the first report here: First, rich people are supposed to be good for the economy because they invest, not because they spend.
The outcome teport the deficit commission is probably going to be the opposite. Regarding your closing quote about equal voting power with the rich, I would inreasingly question this. Remember these Reports were NOT meant for consumption by us “common folk”.
The Revenge of Inequality” they state that in the long term the repoet of the further concentration of wealth are intact, including globalization and capitalism-friendly governments. Notify me of new posts via email. Can someonoe please e-mail me the report? As far as the deficit is concerned, the public has opinions.
Plutonomy and the Precariat
In a citibamk called ” The Plutonomy Symposium Rising Tides Lifting Yachts ,” Ajay Kapur, Citigroup’s global strategist, says the balance sheets of the rich are “in great shape, and will get much better,” which is why he recommends going out and buying stocks of companies reportt cater to that very select market.
Things like this continue. The United States is one of the plutonomy countries countries whose economies are powered by a relatively small number of rich people.
The developments that took place during the s set off a vicious cycle.