My point was directed against those who argue in favor of degrowth, so I am not sure I need a lesson in this.
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Replying to @BrankoMilan
Yes I think you're right. The degrowth people annoy me.
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Replying to @Noahpinion @BrankoMilan
However, I would not call rich-country growth "plutocratic growth". When that growth goes negative, it's not the plutocrats who suffer most. In fact, most American plutocrats did fine in the Great Recession.
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Replying to @Noahpinion
It is the standard terminology. It is plutocratic because the weights are counties total GDPs.
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Replying to @BrankoMilan
I just think that terminology is misleading. A proper measure of "plutocratic" growth would be individually weighted, not country-weighted.
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Replying to @Noahpinion
If it is individually-weighted it is democratic, not plutocratic.
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Replying to @BrankoMilan
I mean, the plutocratic rate of growth should be the rate of growth for plutocrats. What you have there is not that.
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Replying to @Noahpinion
Noah, you want to change the accepted terminology. Fine w./me, call it total GDP-weighted---but plutocratic growth rate is standard. It has nothing to do w/ *plutocrats*: it has to do with weighting being proportional to total income.
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Replying to @BrankoMilan
I googled for the term "plutocratic growth rate", and every link I found was either a Branko Milanovic post or something discussing and referencing a Branko Milanovic post. Among whom, other than Branko Milanovic, is this term standard?
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Replying to @Noahpinion @BrankoMilan
Does this imply "bad faith" from Branko or simply that he forgot that he invented his own terminology?
1 reply 0 retweets 2 likes
Haha no, I just think the term might be a lot more rare than Branko thinks!
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