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Piketty and Plutonomy: The revenge of inequality

When wealth and income are as concentrated as they are, and expected (a la Piketty) to get even more so, examining the “average” consumer or “average” investor makes little sense. Examining the fat tail – the behavior of the plutonomists, rather than that of the multitudinous many – is more advantageous to investors. That’s what we have attempted in this report.