In a 2005 report to investors, for instance, three analysts at Citigroup advised that “the World is dividing into two blocs—the Plutonomy and the rest” . . .
In a plutonomy there is no such animal as “the U.S. consumer” or “the UK consumer”, or indeed the “Russian consumer”. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. There are the rest, the “non-rich”, the multitudinous many, but only accounting for surprisingly small bites of the national pie.
Read ongoing conversation here and then see the new Atlantic piece by tv capitalist cheerleader Chrystia Freeland. Even she now admits the super-rich have “reached escape velocity” so that no quaint myth about American exceptionalism will save us from being left behind, floundering for our lives in the wake of their ever-accelerating planet-ocracy.
The Atlantic Home
F. Scott Fitzgerald was right when he declared the rich different from you and me. But today’s super-rich are also different from yesterday’s: more hardworking and meritocratic, but less connected to the nations that granted them opportunity—and the countrymen they are leaving ever further behind.
All while the useful-idiot bootstrap-believers heap blame on gays, immigrants, atheists and schoolteachers, Lucifer and ACORN and the United Nations (not to be redundant, lol) oh, and on all social justice and power-to-the-people public programs — you know, all except power OVER people programs like prisons, police, and the military, government meant to strike sufficient fear in people to control them at any cost, all about weapons and brute force and psychological domination, enforcing, restraining, prosecuting, deporting, punishing, torturing, killing . . .
What counts is what you DO, who and what you live and work FOR rather than against, who and what you take responsibility FOR and what results you get. Is the world more heaven and less hell because you’re in it, or vice versa? People notice the difference sooner or later, you know. . .