Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”

In October 16, 2005, Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances” urging investors to put money into a “Plutonomy Basket" Here are my favorite excerpts: The World is dividing into two blocs - the Plutonomy and the rest. The U.S., UK, and Canada are the key Plutonomies - economies …

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Jefferson on the Inequality of Property

Thomas Jefferson to James Madison 28 Oct. 1785, Fontainebleau, Paris, France Papers 8:681--82 I set out yesterday morning to take a view of the place. For this purpose I shaped my course towards the highest of the mountains in sight, to the top of which was about a league. As soon as I had got …

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Aristotle on the Inequality of Property

Politics by Aristotle. Written in 350 BCE Book 2 Our purpose is to consider what form of political community is best of all for those who are most able to realize their ideal of life. We must therefore examine not only this but other constitutions, both such as actually exist in well-governed states, and any …

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UN Trade & Development Report 2017

Hi, The latest UNCTAD report is out. We have been warned. Full Report: http://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=1852 Foreword: In sharp contrast to the ambitions of the 2030 Agenda for Sustainable Development, the world economy remains unbalanced in ways that are not only exclusionary, but also destabilizing and dangerous for the political, social and environmental health of the planet. …

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10 Principles of Concentration of Wealth and Power

Requiem for the American Dream is a timely 75-minute teach-in by Noam Chomsky, the M.I.T. linguistics professor who has been a leading leftist political analyst, critic and writer for six decades. Mr. Chomsky, already the subject of several documentaries, focuses here on an election-season theme: financial inequality in America and what he calls its corrosive …

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Pope Francis: Don’t Believe the Hype!

The hype surrounding the new Pope has to stop. There’s nothing progressive about Pope Francis. Whatever the TV or your friends are repeating is false or completely out of context. Let me walk you through some of the most talked-about points: Homosexuality We all heard the now famous line from the Pope when asked about …

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