Thursday, November 05, 2009


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.

1 comment:

  1. Anonymous1:51 PM

    On the basis of a speculative analysis, a speculative interpretation leads to the conclusion, no need to study the effects of a massive recession on the vast majority of the population. No partisan science there!

    Chuckie K