Tuesday, October 25, 2011

Plutonomy

New term for me here, not quite the same as a plutocracy.

Plutonomy -
Economic growth that is powered and consumed by the wealthiest upper class of society. Plutonomy refers to a society where the majority of the wealth is controlled by an ever-shrinking minority; as such, the economic growth of that society becomes dependent on the fortunes of that same wealthy minority. source

Democratic Underground: Citigroup's Shocking 'Plutonomy' Reports

2 Comments:

Blogger GlennK said...

How many homes, yachts, jewels and whores can a really rich guy use anyway is the big ? on every merchant to the wealthys lips

7:34 PM  
Blogger Sande said...

Apparently there is never enough homes, yachts, islands, or whores. It could be that the super rich are the most mentally impoverished group ever.

8:42 PM  

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