Plutonomy

Economic growth that is powered and consumed by the wealthiest upper class of society. Plutonomy refers to a society where the majority of the wealth is controlled by an ever-shrinking minority; as such, the economic growth of that society becomes dependent on the fortunes of that same wealthy minority.

This buzz word was initially coined by analysts at Citigroup in 2005 to describe the incredible growth of the U.S. economy during that period despite increasing interest rates, commodity prices and an inflated national debt. Citigroup analysts argued that as such an economy continues to grow in the face of contradictory elements, the more important the society's ultra rich become to maintaining such growth. The analysts also believed that in addition to the U.S., Canada, Great Britain and China are also becoming plutonomies.


Investment dictionary. . 2012.

Look at other dictionaries:

  • plutonomy — n. An economy that is driven by or that disproportionately benefits wealthy people, or one where the creation of wealth is the principal goal. [Blend of pluto (wealth) and economy.] Example Citations: Wealthy business people and families from the …   New words

  • plutonomy — noun a) An economy that is significantly influenced by the very wealthy. b) The study of the production and distribution of wealth See Also: plutonomic, plutarch …   Wiktionary

  • plutonomy — plu·ton·o·my …   English syllables

  • plutonomy —   n. economics …   Dictionary of difficult words

  • plutonomy — plüˈtänəmē noun ( es) Etymology: International Scientific Vocabulary plut + nomy : political economy : economics …   Useful english dictionary

  • Citigroup — Not to be confused with CIT Group, another large financial services company. Citigroup Inc. Type Public Traded as NYSE:  …   Wikipedia

  • Criticism of capitalism — This article lists arguments against capitalism, For a summary of ideologies opposed to capitalism, see Anti capitalism. Part of a series on Capitalism …   Wikipedia

  • plutonomist — noun An economist who studies plutonomy …   Wiktionary

  • plutonomic — adjective Of or pertaining to plutonomy …   Wiktionary

  • plutonomics — noun The study of wealth. Syn: plutonomy See Also: plutonomic, plutarch …   Wiktionary

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