{"id":51185,"date":"2020-02-15T20:00:41","date_gmt":"2020-02-16T01:00:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=51185"},"modified":"2020-02-15T20:00:44","modified_gmt":"2020-02-16T01:00:44","slug":"poetic-justice-coming-for-the-1","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=51185","title":{"rendered":"Poetic Justice Coming For The 1%"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.dollarcollapse.com\/poetic-justice-1\/\">Poetic Justice Coming For The 1%<\/a><\/h3>\n\n\n\n<p>To understand just how grim the coming decade is likely to be for the world\u2019s super-rich, let\u2019s start with three premises:<\/p>\n\n\n\n<p>1) Capitalist democracy \u2014 defined as free individuals managing their own property and periodically electing new leaders \u2014 is the only system of social organization that\u2019s consistent with human nature and is, therefore, sustainable.&nbsp;<\/p>\n\n\n\n<p>2) Capitalism inevitably produces inequality as a few participants \u2014 through energy, creativity, and (frequently) luck \u2014 do extremely well while the vast majority do okay and a few do very badly.&nbsp;<\/p>\n\n\n\n<p>3) Since the big winners \u2014 now commonly known as the 1% \u2014 are vastly outnumbered by the rest of society, they can only keep their exulted position if they convince the 99% to let them be. If the rich fail to make their case, everyone else will simply vote to expropriate the most visible fortunes.&nbsp;<\/p>\n\n\n\n<p>If you accept these assertions, it follows that enlightened elites would be all about fostering upward mobility, because when people on the lower rungs of the economic ladder know that by working hard and following the rules they can move their families to the next higher rung in a reasonable amount of time, they focus on their on improving prospects and don\u2019t much care if a few billionaires live like princes and kings.&nbsp;<\/p>\n\n\n\n<p>But that\u2019s emphatically not the case these days. The current generation of corporate and political winners have blatantly and systematically exploited nearly everyone else. Amazon, for instance, staffs its hellscape warehouses with RV caravans of migrant senior citizens working long, hard days for subsistence wages. Apple makes its high-margin phones in Chinese sweatshop factories where suicide is the biggest occupational health hazard.<\/p>\n\n\n\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poetic Justice Coming For The 1% To understand just how grim the coming decade is likely to be for the world\u2019s super-rich, let\u2019s start with three premises: 1) Capitalist democracy \u2014 defined as free individuals managing their own property and periodically electing new leaders \u2014 is the only system of social organization that\u2019s consistent with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1253,111,204,7544],"class_list":["post-51185","post","type-post","status-publish","format-standard","hentry","category-economics","tag-1253","tag-capitalism","tag-democracy","tag-john-rubino"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51185"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51185\/revisions"}],"predecessor-version":[{"id":51187,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51185\/revisions\/51187"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}