Plutonomy on a single page

Can the Middle Class Be Saved? - Magazine - The Atlantic: "In a plutonomy, Kapur and his co-authors wrote, “economic growth is powered by and largely consumed by the wealthy few.” America had been in this state twice before, they noted—during the Gilded Age and the Roaring Twenties. In each case, the concentration of wealth was the result of rapid technological change, global integration, laissez-faire government policy, and “creative financial innovation.” In 2005, the rich were nearing the heights they’d reached in those previous eras, and Citigroup saw no good reason to think that, this time around, they wouldn’t keep on climbing. “The earth is being held up by the muscular arms of its entrepreneur-plutocrats,” the report said. The “great complexity” of a global economy in rapid transformation would be “exploited best by the rich and educated” of our time."

'via Blog this'

Some wheels within wheels: 1. we are no longer educating the bulk of the "educated" 2. Occupy will I hope create the proper agenda for the one percent to follow beginning with investment in car-free communities where all aspects of cities are within walking distance and stratified zoning is a forgotten nightmare and 3 We need some wisdom about the complicity between philanthropy and capitalism and why it keeps the crack through which unfortunates fall open at roughly the same rate year after year. It's going to be an interesting spring.

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