NotWord ‘Plutonomy’ Is Nonetheless Descriptive
Generally, I hate seeing slang and misused English words suddenly accepted as standard English by the dictionary people (who authorized them anyway?), but a NotWord making its rounds does have several things going for it.
Plutonomy is not in any dictionary, so let’s look at its definition courtesy of the blog One Stop Thought Shop:
In a "[tag]plutonomy[/tag]," according to Citigroup global strategist [tag]Ajay Kapur[/tag], economic growth is powered by and largely consumed by the wealthy few. Canada and Britain fall into that category too, he says, the euro zone and Japan much less so.
There may be some truth to the fact that our society’s economic survival hinges on the consumption and spending habits of the super rich, so coining a word like plutonomy provides a useful shortcut to describe this phenomenon.
Right now, it seems to be a neutral term, descriptive rather than judgmental, but if you hear Hillary and the Democrats start using it, then you’ll know it’s been morphed into a pejorative.
Plutonomy may be safe from the hands of the politicians, however. It’s just too obscure and hard to remember for mass consumption. Instead, the old saw about "the rich get richer and the poor get poorer" will no doubt fill the Democrats’ carpetbags until time itself ceases.