1. Old News, But Not Enough People Know It This is old news, but old news that most people don’t know about, because Citigroup has been. Ajay Kapur, global strategist at Citigroup, and his research team came up with the term “Plutonomy” in to describe a country that is defined. Equity risk premium embedded in “global imbalances” are unwarranted. Citigroup’s second Plutonomy report, titled “Revisiting Plutonomy.

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It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft: So the analysts plutono,y to think about “losers”as they call them, or the people who could need a bath, as Newt Gingrich would call it.

Views Read Edit View history. In andseveral analysts at Equtiy took a very, very close look at the economic inequalities within the USA and other countries citigroip wrote two memos which were addressed to their very wealthy customers. You got to admire the cluelessness of people who deny the down and praise the up as if gravity had nothing to do with it.

While there is evidence that this is positive for the average worker for example Ottaviano and Peri it is also clear that high-cost substitutable labor loses. Smith bruceedmonds Kevin P. The full report is available here http: The key challenge for corporates in this space is to maintain the mystique of prestige while trying to grow revenue and hit the mass-affluent market. Citigroup seems to be perfectly happy with the rule cititroup the rich.

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. By using this site, you agree to the Terms of Use and Privacy Policy. In plutonomies the rich absorb a disproportionate chunk of the economy and have a massive impact on reported aggregate numbers like savings rates, current account deficits, consumption levels, etc.

Show them to your conservative friends, the ones who believe we still live in a society where everyone can be rich if they just work hard enough. Realitybase readers know that I think this is in large part due to unbalanced foreign trade and even more to globalization by exposing Americans to foreign labor competition. You are commenting using your Twitter account.

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Our thesis is that the rich are the dominant drivers of demand in many economies around the world the US, UK, Canada and Australia. However, labor has, relatively speaking, lost out.

Outsourcing, offshoring or insourcing of cheap labor is done to undercut current labor costs. Equity multiples appear too low, the profit share of GDP is high and likely going higher, stocks look likely to beat housing, and we are bullish on equities.

There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take.

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

Wealth concentration Economic inequality. So what are we talking about? Disruptive technology-driven productivity gains, creative financial innovation, capitalist- friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions.

Notify me of new comments via email. The Koch Brothers and others can buy politicians and make sure that they get their way, also thanks to the Koch-friend Clarence Thomas and his colleagues in the Supreme Court who made the “Citizens United” decision possible.

The Citigroup analysts basically predicted the OWS-movement. To use Rawls-ian analysis, the invisible hand stops working.

They posit a few reasons for this change: From Citigroup, Equity Strategy, March 5, emphasis added. It seems inevitable therefore, that plutonomists and their agents have gone to great lengths to suppress these documents.

Significantly it notes that: Ultimately, the rise in income and wealth inequality to some extent is an economic disenfranchisement of the masses to the benefit of the few. Learn how your comment data is processed.

More info about that campaign here. These economies have seen the rich take an 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.

The fact that a work is unpublished shall not itself bar a finding of fair use if such finding is made upon consideration of all the above factors.

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The Revenge of Inequality” they state that in the strtegy term the drivers of the further concentration of wealth are intact, including globalization and capitalism-friendly governments. Michael Moore referred to them in Capitalism: Despite not having received widespread mainstream coverage, the Citigroup ditigroup have been discussed in a handful TV-clips or documentaries. You are commenting using your Facebook account.

Clearly, this is a brazen abuse of copyright law to suppress legitimate journalism. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant.

Your reference will not appear until it has been cleared by eqquity website editor. Sam Pizzigoti discusses and links to the recent Ad Age story, with this lede:. This page was last edited on 29 Novemberat However this does not mean that governments are incapable of revoking property rights.

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Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:. Still true, as per evidence by Thomas Piketty and others.

Plutonomics

When Bill Moyers “signed off” with his last plutonomg inhe extensively quoted from the Citigroup memos and explicitly warned that Plutocracy and Democracy “do not mix”:. These guidelines exist to further that reputation. However in democracies this is rarely tolerated forever.