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 there repogt a lot of things that can be done. Things like this continue. The lowest quintile did about as well as the highest quintile. In this book, he shows a strong long-term trend toward more concentrated income and wealth. They did what banks were supposed to do in a state capitalist economy: The principle of “one person — one vote”?
For centuries, since the country began, it had been a developing society, and not always in very pretty ways. Comments 26 Leave a comment. Climate Change and Nuclear Weapons.
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Not long ago, President Barack Obama took over the auto industry, which was basically owned by the public. The developments that took place during the s set off a vicious cycle.
The idea of worker takeovers is something which plutonomt, incidentally, very much on the agenda today, and we should keep it in mind. They are richer than ever, more powerful than ever, controlling the political system, disregarding the public.
These economies have seen the rich take lputonomy increasing share of income and wealth over the last 20 years, to the extent that the rich now dominate income, wealth and spending in these countries.
Disruptive technology-driven productivity gains, creative financial innovation, capitalist-friendly cooperative governmentsan international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions. Some economists took issue with this diagnosis. Community This plutohomy is not subject to review by Daily Kos staff. Our whole plutonomy thesis is based on the idea that the rich will keep getting richer.
In the s, unemployed working people could anticipate that their jobs would come back. Invest in the uber-rich,” The Globe and Mail, October 2, http: One of the underlying factors, discussed mainly by economic historian Robert Brenner, was the falling rate of profit in manufacturing.
Plutonomy and the Precariat. As for the rest, we set them adrift. Corporate tax rates could rise, choking off returns to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy.
It took two hours. Yet a new body of research from Citigroup suggests that the rich have other, more-surprising impacts on the economy. Steel decided to close one of its major facilities in Youngstown, Ohio. Christian Arnsperger and Yanis Varoufakis Trade and inequality: Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election.
However this does not mean that governments are incapable of revoking property rights.
Plutonomy – Wikipedia
Perhaps one reason that societies allow plutonomy, replrt because enough of the electorate believe they have a chance of becoming a Plutoparticipant. Notify me of new posts via email. They have succeeded in getting the second plutonomy report removed from Scrib.
Regarding your closing quote about equal voting power with the rich, I would inreasingly question this.
A TomDispatch regularhe is the author of numerous best-selling political works, most recently, Hopes and ProspectsMaking the Futureand Occupypublished by Zuccotti Park Pressfrom which this speech, given last October, is excerpted and adapted. Well I tried to locate the confidential Citigroup reports cited in the film, and think that these next two links are them.
This 35 page report begins:. Plutocrats repent, your end is near. The legislation, essentially bipartisan, drives new plutonnomy policies and tax changes, as well as the rules of corporate governance and deregulation. It was a partial victory because, even though they lost, it set off other efforts.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
Learn how your comment data is processed. From Wikipedia, the free encyclopedia. This cycle resulted in a tremendous concentration of wealth, mainly in the top tenth of one percent of the population. It would have taken a little popular support, but it could have made a major change in the economy.