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A Brief History of Creative Work and PlutonomyPlutonomy: The New Financialized World Order

A Brief History of Creative Work and Plutonomy: Plutonomy: The New Financialized World Order [The term plutonomy was introduced by John Malcolm Forbes Ludlow, in the nineteenth century, which meant the science of production and distribution of wealth, but in the twenty-first century it appeared in an internal report of the Citibank, in the journal Citigroup, in the USA in the year 2006. This internally circulated report was meant to serve as a document for their future investments and banking activities. However, according to the new definition for the Greek word plutonomy meaning the norm of the rich is interpreted as a rich oligarchy should rule everything with the influence of their wealth. One scary aspect of this report is that for the sake of plutonomy the rights of the non-plutonomy (“the rest”) would be ignored; which is more than 90% of the population and owning only a miniscule potion of the total national wealth. It also implied that the wealth movement in the future would go into the direct control of the plutonomy that would become influential in all aspects of human “life”, the nation-states may have only a limited say over the national wealth. The plutonomy then would negate all the influence and relevance of the “the rest”, and also would be able to negate authority of the nation states. ] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Brief History of Creative Work and PlutonomyPlutonomy: The New Financialized World Order

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Publisher
Springer Singapore
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021
ISBN
978-981-15-9262-1
Pages
55 –60
DOI
10.1007/978-981-15-9263-8_9
Publisher site
See Chapter on Publisher Site

Abstract

[The term plutonomy was introduced by John Malcolm Forbes Ludlow, in the nineteenth century, which meant the science of production and distribution of wealth, but in the twenty-first century it appeared in an internal report of the Citibank, in the journal Citigroup, in the USA in the year 2006. This internally circulated report was meant to serve as a document for their future investments and banking activities. However, according to the new definition for the Greek word plutonomy meaning the norm of the rich is interpreted as a rich oligarchy should rule everything with the influence of their wealth. One scary aspect of this report is that for the sake of plutonomy the rights of the non-plutonomy (“the rest”) would be ignored; which is more than 90% of the population and owning only a miniscule potion of the total national wealth. It also implied that the wealth movement in the future would go into the direct control of the plutonomy that would become influential in all aspects of human “life”, the nation-states may have only a limited say over the national wealth. The plutonomy then would negate all the influence and relevance of the “the rest”, and also would be able to negate authority of the nation states. ]

Published: Nov 11, 2020

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