In a series of research notes over the past year, Kapur and his team explained that Plutonomies have three basic characteristics.
1. They are all created by “disruptive technology-driven productivity gains, creative financial innovation, capitalist friendly cooperative governments, immigrants…the rule of law and patenting inventions. Often these wealth waves involve great complexity exploited best by the rich and educated of the time.”
2. There is no “average” consumer in Plutonomies. There is only the rich “and everyone else.” The rich account for a disproportionate chunk of the economy, while the non-rich account for “surprisingly small bites of the national pie.” Kapur estimates that in 2005, the richest 20% may have been responsible for 60% of total spending.
3. Plutonomies are likely to grow in the future, fed by capitalist-friendly governments, more technology-driven productivity and globalization.
Kapur says that once we understand the Plutonomy, we can solve some of the recent mysteries of the American economy. For instance, some economists have been puzzled (especially last year) about why wild swings in oil prices have had only muted effects on consumer spending.
Kapur’s explanation: the Plutonomy. Since the rich don’t care about higher oil prices, and they dominate spending, higher oil prices don’t matter as much to total consumer spending.
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Comentário: Destaquei o papel dos governos nas plutonomias porque estou convencido de que é a intervenção dos governos na economia que as favorece e incentiva. Estes governos não são amigos do capitalismo, são amigos dos capitalistas - o que é radicalmente diferente.