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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
- technology changes
- patent protection
- Citigroup Plutonomy Report, Part 1, Oct 16, 2005.
- Citigroup Plutonomy Report, Part 2, March 5, 2006.
- Plutonomy, David C. Korten.
- 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.