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The word "plutonomy" refers to economic growth that is powered and consumed by the wealthy. The word was coined by Ajay Kapur, a global strategist at Citigroup, in 2005.

Factors that create and maintain plutonomy

Ajay Kapur, a global strategist at Citigroup, defined six factors that helped create and maintain a plotonomy:

  • business-friendly government and tax policies
  • increasingly complex financial systems
  • control of the rule of law
  • globalization
  • technology changes
  • patent protection

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