"Ajay Kapur, global strategist at Citigroup, and his research team came up with the term “Plutonomy” in 2005 to describe a country that is defined by massive income and wealth inequality. According to their definition, the U.S. is a Plutonomy, along with the U.K., Canada and Australia." Robert Franks.
Read more here.
Read Edward Fullbrook here.
Or rational wiki here.
In France, the U.K., and the U.S., the share of total income currently appropriated by capital is thirty per cent. The top 0.1 per cent of income earners own twenty per cent of wealth. The top one per cent own 40 per cent. The top ten per cent own 80 to 90 per cent. The bottom 50 per cent own a mere five per cent of wealth.
Al Engler - Capitalism actually widens economic disparity, rabb.ca.
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