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Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone… (edition 2012)

by Chrystia Freeland

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202658,111 (3.71)20
Member:M109Rider
Title:Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else
Authors:Chrystia Freeland
Info:Penguin Press HC, The (2012), Edition: First Edition, Hardcover, 336 pages
Collections:Your library
Rating:*****
Tags:eBook, Economics, Reading

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Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by Chrystia Freeland

Recently added bydanigoose1, KelMunger, Albertyne, vickidrak, private library, StephenBarkley, cupocofe
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    Down the Up Escalator: How the 99 Percent Live in the Great Recession by Barbara Garson (Jestak)
    Jestak: These two books offer a very effective counterpoint to each other.
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In 2011 the Occupy Wall Street movement brought the issue of wealth distribution into our public conversations. The protesters and activists labeled themselves the 99 percent—those with far less wealth than the 1 percent who worked on Wall Street.

Chrystia Freeland goes further in Plutocrats. The real division isn't between the 99 and the 1 percent, it's between the 99.99 and the 0.01 percent! This 0.01 percent is an elite group of "super-rich" who live and see the world in dramatically different ways from the rest of society:

- Unlike the aristocracy of earlier centuries, the 0.01 percent feel that their wealth is self-made.
- National identity is less important for the 0.01 percent since they have far more in common with the rest of the people in their wealth-bracket than their fellow countrymen and women.
- The 0.01 percent like to view themselves as philanthropists, often engaging in large-scale humanitarian efforts.

Freeland has done a remarkable job, as a reporter, working her way into the community of the super-rich and learning how they think and operate. If you want to understand the mindset of a multi-billionaire, this is an interesting read.

That said, I found the book to be overloaded with business-speak that took away from the immediacy of the prose. Perhaps this is just par for the genre—I don't read many business books! ( )
1 vote StephenBarkley | Aug 12, 2014 |
3 of the 4 posted reviews made me wonder if the writers didn't read the entire book. The last two chapters "Rent-Seeking" and "Plutocrats and the Rest of Us" along with the Conclusion are fascinating and I'd say required reading to understand the global economy, the super-elite, and the implications for the rest of us. ( )
1 vote FranklynCee | Jan 19, 2014 |
I have not finished this yet, but I'm enjoying it. It is not a "Lifestyles of the Rich and Famous" that I feared, so far. Author provides a helpful overview of the forces behind the growing (national) income inequality and the growing (global) income equality. As incomes go up in the rising nations, they have to go down somewhere. That is, they have to go down for those who are not in the top tier taking advantage of globalization.
  bradleybunch | Mar 30, 2013 |
Meh! The author goes on and on with dropping names and telling us how many billions of dollars the people she talked to have. Got tiring after a while. This should have been an article in the New Yorker instead of a book. ( )
1 vote SymphonySil | Jan 18, 2013 |
Read this book with my Ipad handy to research what was written. Book covers the role that the ultra rich play in the economy of our country as well as the world. Growing up I thought 1 million was a lot of money. Not in todays world. Billions covers it. Great book to understand what is happening in our economy and the influence that the ultra rich have out everyday world of the middle class. ( )
  oldbookswine | Dec 31, 2012 |
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A journalist and industry specialist for Reuters examines the growing disparity between the rich and the poor, taking a non-partisan look into the businesspeople who are amassing colossal fortunes and preferring the company of similar people around the world.… (more)

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