In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors. Maybe I’m the last person who’s hearing about the Citigroup “plutonomy memos”, but they’re blowning me away. Wait, now that I look around. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1.

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Concentration of wealth yields concentration of political power.

OWSfinancerant. Thanks for posting — you might like this one too: My email is civileconomies gmail.

It took two hours. This site uses cookies.

Wealth concentration Economic inequality. On the History of the U. This equal voting power seems to be a pretty serious concern for their plans. More info about that campaign here.


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There was a pretty constant expectation that it was going to go on like this.

That is not true. One of the underlying factors, discussed mainly by economic historian Robert Brenner, was the falling rate of profit in manufacturing. To stay on top of important citibznk like these, sign up to receive the latest updates from TomDispatch.

If it does, the historic reversal that began in the s could become irreversible. Become a Redditor and subscribe to one of thousands of communities.

Plutonomy and the Precariat | HuffPost

leakes The workforce and the union offered to buy it, take it over, and run it themselves. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:.

Email required Address never made public. For centuries, since the country began, it had been a developing society, and not always in very pretty ways.

We thought this was good time to bang the drum on plutonomy. They did what banks were supposed to do in a state capitalist economy: Speaking of inequality, you did highlighting plutonnomy Gangnam clip from Korean in a much earlier post, which was great fun by the way!

Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog

Steel decided to close one of its major facilities in Youngstown, Ohio. As far as the deficit is concerned, the public has opinions. Something has to be done about it very soon in a dedicated, sustained way. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy of comment. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant.


They elaked be required reading. Through the s, as the decline was setting in, there were some important events that took place. Take a look at the polls. Regarding your closing quote about equal voting power with the rich, I would inreasingly question this.

Plutonomy and the Precariat

Citibankk just defies belief. The change took place in the s. It led to leaker concentration of wealth increasingly in the hands of the financial sector. Comments on issue 74 – repaired post and read comments on issue Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich.

The GFC resulted in massive transfers of dollars from ordinary taxpayers to the wealthy via the bail-outs when the big financial institutions momentarily embraced socialism.