big on love, tolerance, and the human potential
Following up on a popular 2005 post American Plutonomy, I’ve found the CitiGroup reports “where a group of strategic analysts looked at segments of the population in the national indices of consumption, economic growth, wage costs, etc., and showed that in certain economies wealth is concentrated in a small percentage of the population. Japan and …
Warren Buffet’s essay in the NY Times: “Stop Coddling the Super-Rich” Thinmk about this statement via John Robb: “It should have been self evident that a ‘plutonomy’ wasn’t stable. Centralized demand is as toxic as centralized planning for an economy.” When the rich steal from everyone, it’s Free Markets; When the rich steal from the …
Opinion is increasingly pointing to much more than mere regulation. Many are calling for the dismantling of centuries of banking chicanery. In The Quiet Coup, Simon Johnson points out that the United States is no better than a banana republic: The crash has laid bare many unpleasant truths about the United States. If the IMF’s …
Where does our money go? After more than two hundred years dedicated to growth, hard work and prosperity, why are we sinking, carrying the shame of millions in poverty, worried for our children, afraid of next month, and listening to silly oligarchs tell us to polish, well, to accept their limitless credit cards? Launching our …
Every person who improves his or her status in life does so at the expense of another. Perhaps plutonomy, where we rely upon social power and economic power to establish policy and drive markets, is an upside down hierarchy. The few have the most. Generally, we think that this is OK. There’s a number of …
There is no evidence that the conservative economic policies begun in the 1980s, from supply-side policies to the current plutonomy of tax cuts for the wealthy, have helped the American economy. Neither Carter nor Reagan had much to do with the economic events that occurred during their terms. Myth: Carter ruined the economy; Reagan saved …
Why is there a mass movement of religious zealots in the USA? Why now? The European Tribune tries to explain: Growth has slowed.For example, measures of wealth which have shown a sharp rise in the US and UK during the past several decades are based primarily upon the super wealthy having become even more wealthy …
We know very little about ‘the rich’. Tabloids make it up. Journals and news reports speak only of institutions. Major media skims only the surface while it tends to stimulate unsubstantiated opinion and often scornful judgement. A hundred million dollars per year barely qualifies for a rich list, yet spending only a small part can …