Plutonomy

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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

Sourcewatch resources

• Citigroup Plutonomy Report, Part 1, Oct 16, 2005.
• Citigroup Plutonomy Report, Part 2, March 5, 2006.

External resources

• Michael Moore, Capitalism: A Love Story, Movie web site.

• Plutonomy, David C. Korten.

External articles

• We're living in a plutonomy, Sunday Telegraph UK, April 2, 2006.

• Robert Frank, The Wealth Report, Wall Street Journal blogs, January 8. 2007.

• Greed at a Glance, Multinational Monitor, March/April 2007.

• jamess, Citigroup's Shocking 'Plutonomy' Reports -- h/t Michael Moore, Daily Kos diary, October 4, 2009.

• Plutonomy on the ropes: How to save capitalism, St. Louis Today editorial, October 4, 2009.