Definition from Wiktionary, the free dictionary
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, subsequently popularized.
- An economy that is significantly influenced by the very wealthy.
- The study of the production and distribution of wealth.
- 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.
- ^ “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.’
- ^ “The Economics Of Plutonomy”, Matthew Yglesias, Slate, Moneybox, Nov. 21, 2011