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	<title> &#187; dead peasants</title>
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		<title>The Scorpion and The Frog</title>
		<link>http://www.nonpersons.com/2009/10/18/the-scorpion-and-the-frog/</link>
		<comments>http://www.nonpersons.com/2009/10/18/the-scorpion-and-the-frog/#comments</comments>
		<pubDate>Sun, 18 Oct 2009 17:00:18 +0000</pubDate>
		<dc:creator>Mr. Repose</dc:creator>
				<category><![CDATA[Essays]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[bullshit]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[corp speak]]></category>
		<category><![CDATA[corporate]]></category>
		<category><![CDATA[dead peasants]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[exploitation]]></category>
		<category><![CDATA[externalities]]></category>
		<category><![CDATA[externality]]></category>
		<category><![CDATA[globalization]]></category>
		<category><![CDATA[plutonomy]]></category>
		<category><![CDATA[pollution]]></category>
		<category><![CDATA[Propaganda]]></category>
		<category><![CDATA[pyramid scams]]></category>
		<category><![CDATA[shareholders]]></category>
		<category><![CDATA[stakeholders]]></category>
		<category><![CDATA[unions]]></category>

		<guid isPermaLink="false">http://www.nonpersons.com/?p=1028</guid>
		<description><![CDATA[Our whole plutonomy thesis is based on the idea that the rich will keep getting richer. This thesis is not without its risks. For example, a policy error leading to asset deflation, would likely damage plutonomy. Furthermore, the rising wealth gap between the rich and poor will probably at some point lead to a political backlash. Whilst the rich are getting a greater share of the wealth, and the poor a lesser share, political enfrachisement remains as was – one person, one vote (in the plutonomies). At some point it is likely that labor will fight back against the rising profit share of the rich and there will be a political backlash against the rising wealth of the rich. This could be felt through higher taxation (on the rich or indirectly though higher corporate taxes/regulation) or through trying to protect indigenous laborers, in a push-back on globalization – either anti-immigration, or protectionism. We don’t see this happening yet, though there are signs of rising political tensions. However we are keeping a close eye on developments. [...]]]></description>
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