You Don’t Matter Anymore – Your Plutocracy at Work

Welcome to the Plutocracy.

A new report by Ad Age, the newspaper of record for the advertising business, has declared that you don’t matter anymore.

This is not a rag with a political agenda.  This is the source of “how do we make money by selling stuff” wisdom.  And they say you don’t matter.

Once upon a time, there was a middle class.  The middle class was where the purchasing power was.  “Follow the money,” as they say.  Where the purchasing power is, that is where your audience is, if you are an advertiser.  Madison Ave. targeted the middle class with products and product advertisements because, if you wanted to sell something, you sell to someone who can buy.

But those days are gone.  With the astounding hyper growth of the wealth and income in the top percentages over the last several decades, and stagnation of  income for everyone else (this means you), you don’t have the purchasing power you used to have.  Without that, you cease to matter.

The top 10 percent of American households, the trade journal adds, now account for nearly half of all consumer spending, and a disproportionate share of that spending comes from the top 10’s upper reaches.

“Simply put,” sums up Ad Age’s David Hirschman, “a small plutocracy of wealthy elites drives a larger and larger share of total consumer spending and has outsize purchasing influence — particularly in categories such as technology, financial services, travel, automotive, apparel, and personal care.”

The good news is that you are less likely to be bombarded with ads for things you don’t really need, though it also means you will more and more see ads for thinks you can’t afford, and won’t ever afford. 

But mostly it is an acknowledgement of what Congress has been aware of for years – that the wealthy have successfully cut you out of the process, and that you no longer matter.

Thanks to The Majority Report for talking about the analysis, to Too Much for the analysis itself, and to Ad Age for admitting the obvious.

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2 Responses to “You Don’t Matter Anymore – Your Plutocracy at Work”

  1. News Alert: The Emperor Has No Clothes « Politically Me Says:

    […] When the money is being aggregated at the top, the people below the top 1% have less to spend.  The bottom 98% make up 30% of economic activity.  When they have less to spend, it takes longer for recovery to happen.  When they have less to spend, it takes smaller problems to create downturns.  (It is no wonder why the bottom 90% are now declared irrelevant.) […]

  2. Standard & Poor « Politically Me Says:

    […] You Don’t Matter Anymore […]

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