Cambridge, MA – The Occupy movement has been an extremely exciting development. Unprecedented, in fact. There’s never been anything like it that I can think of. If the bonds and associations it has ...

Has the American economy turned into a “plutonomy”? In 2005, three Citigroup analysts — Ajay Kapur, Niall MacLeod and Narendra Singh — answered yes. They explained: “Plutonomies have occurred before ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Robert Kelly is managing director of ...

The capitalist mode of production represents a radical break from traditional methods of organising economic activity. Because it has taken extremely diverse forms and evolved in complex ways over ...

We are closing in on the 20th anniversary of one of the most revealing pieces of bank analyst research in recent American history. On October 16, 2005, Citigroup released an “industry note” for ...

On the history of the US economy in decline. By signing up, you confirm that you are over the age of 16 and agree to receive occasional promotional offers for ...

This article appears in the December 2025 issue of The American Prospect magazine. Subscribe here. We are living in a new Gilded Age. The first, from roughly 1870 to 1890, was marked by dramatic ...

My post this morning on the growing class divergence between first class travelers and coach travelers reminded me of an old piece of market analysis done in 2005 for Citigroup that’s become a bit of ...

A few years before the financial crisis, Ajay Kapur started advising investors to bet on the rich. He now says it may be time to unwind that trade. In the mid-2000s, Kapur and his then-colleagues at ...

Faith in Corporate America and its doctrine of “free enterprise” have been tanking for the past year or more. Some 15 million people remain out of work, and the jobless rate, which hit 9.8% in ...

Russia's new -business elite will join -celebrities including supermodel Jerry Hall, designer Stella McCartney and Mohamed Al Fayed, the owner of Harrods, at the Old Billingsgate Market in the City of ...

Plutonomy refers to the rich, those who buy luxury goods and so on, and that’s where the action is. They claimed that their plutonomy index was way outperforming the stock market. As for the rest, we ...