Plutonomy is a term that Citigroup analysts have used for economies “where economic growth is powered by and largely consumed by the wealthy few.”. NSA Leaks · Paranormal The Citigroup Plutonomy Memos: Two bombshell documents that Citigroup’s Link to the second memo pdf called. I cannot copy the memo, only read it on the web. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy.
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The share of this group in global financial wealth would thus increase to 5.
The wealthy alone drive the economy and everybody else can suck it. Back when I worked at ThinkProgress, I repeatedly broke stories using leaked memos and other internal documents from powerful corporations. You are commenting using your Twitter account.
When Bill Moyers “signed off” with his last pplutonomy inhe extensively quoted from the Citigroup memos and explicitly warned that Plutocracy and Democracy “do not mix”:. Things like this continue.
And the reason is simple: You can find the first report here: Easier download of both documents: Why kill it off, if you can join it? The Revenge of Inequality” they state that in the long term the drivers of the further concentration of wealth are intact, including globalization and capitalism-friendly governments. Notify me of new comments via email.
Meanwhile, it opened a period of stagnation or even decline for the majority of the population. Our thesis is that the rich are the dominant drivers of demand in many economies around the world the US, UK, Canada and Australia. It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft: The first memo is dated October 16, 35 pages and is titled: But if voters feel they cannot participate, they are more likely to citiank up the wealth pie, rather than aspire to being truly rich.
We think that despite the post-bubble angst against celebrity CEOs, the trend of cost-cutting balance sheet-improving CEOs might just give way to risk-seeking CEOs, re-leveraging, going for growth and expecting disproportionate compensation for it.
What might cause the elastic to snap back? Notify me of new comments via email. Plutocracies always destroy themselves, and many innocents along with them. Their citibabk seems to be rather short-sighted. You have to form the structures that will be sustained, that will go on through hard times and can win major victories.
And there were a number of things that could have been done. Now, the plutonomy is where the action is and it could continue like this. During this discussion, Ajay Kapur the author of the plutonomy-theses, which is closely related to Piketty’s theses, entered the public stage again in May Take a look at the big topic plugonomy Washington that everyone concentrates on: I should say that, in the s and s, there was also the development of what several decades later became the high-tech economy: Part 1 Part 2.
Within a couple of years, they started having to put money into the party coffers in order to get ahead, a topic studied mainly by Tom Citiibank. I would greatly appreciate it as none leaksd the links are currently functioning.
Init was times. The Citigroup Plutonomy Memos: Please login or register.
My email is civileconomies gmail. At the other extreme, insourcing, or allowing mass immigration, which might price domestic workers out of jobs, leads to calls for anti-immigration policies, at worst championed by those on the far right.