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One Percent

other word formation type Widening; noun
The top one percent of Americans as measured by income.
 
The term ‘one percent’ has changed in meaning in recent weeks. The ‘one percent’ is now synonymous with both the top one percent of Americans in terms of income, as well as a group that the other ‘ninety-nine percent’ perceive as the oppressive elite that in part created the economic crisis but is somehow immune to the effects of the crisis.
Etymology : An extension of the term 'one percent' to refer to the American elite.
Source : Discussed in my Sociology 101 class.
Last modified: 3 December 2011


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