plutonomy

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English[edit]

Etymology[edit]

Blend of plutocracy and economy, from Ancient Greek roots πλοῦτος (ploutos, wealth) + νόμος (nomos, law) (English -nomy).

In occasional use since 19th century, re-coined 2005 by team of Citigroup global strategist Ajay Kapur to describe economies with significant income and wealth inequality,[1] subsequently popularized.[2]

Noun[edit]

plutonomy (uncountable)

  1. An economy that is significantly influenced by the very wealthy.
  2. The study of the production and distribution of wealth.

Quotations[edit]

  • 1866, Frederic Harrison, "Industrial Co-operation", in The Fortnightly Review, vol. III, page 499
    On this side it [Socialism] is a crude compromise between the claims of labour and of capital — the hybrid child of Plutonomy and Communism.

Related terms[edit]

Derived terms[edit]

References[edit]

  1. ^ Plutonomics”, Robert Frank, Wall Street Journal blog The Wealth Report, January 8, 2007:
    ‘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.’
  2. ^ The Economics Of Plutonomy”, Matthew Yglesias, Slate, Moneybox, Nov. 21, 2011
  • “plutonomy” in OED Online, Oxford University Press, 1989. (2006)