PLUTOCRACY....
We'll be posting a new chart on the current state of income inequality every day for the next couple of weeks. Yesterday's chart looked at how the richest of the rich have enjoyed massive income gains for decades.
But wait, you say, isn't that the way it's always been? Yes and no. It's never been a bad time to be rich in America. But some times have been a lot better. In fact, the best time may be now, especially when you consider the amount of total income controlled by the top 1 percent since colonial times (with ancient Rome thrown in for comparison):
Sources: Rome: Walter Scheidel and Steven J. Friesen; US in 1774 and 1860: Peter H. Lindert and Jeffrey G. Williamson; US in 1929-2012, Emmanuel Saez and Thomas Piketty (Excel)
Illustrations and infographic design by Mattias Mackler
| Thu Sep. 25, 2014 6:00 AM EDT
But wait, you say, isn't that the way it's always been? Yes and no. It's never been a bad time to be rich in America. But some times have been a lot better. In fact, the best time may be now, especially when you consider the amount of total income controlled by the top 1 percent since colonial times (with ancient Rome thrown in for comparison):
Illustrations and infographic design by Mattias Mackler
plu·toc·ra·cy
noun \plü-ˈtä-krə-sē\
: government by the richest people
: a country that is ruled by the richest people
: a country that is ruled by the richest people
: a group of very rich people who have a lot of power
plural plu·toc·ra·cies
Full Definition of PLUTOCRACY
1
: government by the wealthy
2
: a controlling class of the wealthy
— plu·to·crat noun
— plu·to·crat·ic adjective
— plu·to·crat·i·cal·ly adverb
See Examples of PLUTOCRACY
- If only the wealthy can afford to run for public office, are we more a plutocracy than a democracy?
- corporate greed and America's growing plutocracy
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