say the USA is a Plutonomy
-an economy dependent on the spending and investing of the wealthy. In a further sign
, the top 5% of Americans by income now account for 37% of all consumer outlays (the bottom 80% by contrast share about the same). Consumer spending accounts for roughly two-thirds of U.S. gross domestic product. In a possibly worrisome sign, the wealthy are cutting back on spending
Wealth Spawns Corruption
economies could be more at risk from corruption than Liberal
ones. Ironically, wealth condensation poses the greatest danger to economies that impose constraints on the accumulation of great wealth - broadly speaking, Socialist
economies that maintain free and unrestricted trade are less susceptible.