The zero-sum game investors are betting on
https://www.ft.com/content/4c73fab4-6ac2-46a5-a1aa-0a51177efbfc
The long-term problem is that voters are happy to demand public services but less content to pay the taxes that fund them. In the past, this circle was squared through economic growth. Without growth, economic policy becomes a zero-sum game, in which gains for one group can only come at the expense of losses for another. And the losers are always more angry than the winners are grateful. In the fallout, developed economies seem to be heading for one of two outcomes: plutocracy or gridlock.
https://www.ft.com/content/4c73fab4-6ac2-46a5-a1aa-0a51177efbfc
The long-term problem is that voters are happy to demand public services but less content to pay the taxes that fund them. In the past, this circle was squared through economic growth. Without growth, economic policy becomes a zero-sum game, in which gains for one group can only come at the expense of losses for another. And the losers are always more angry than the winners are grateful. In the fallout, developed economies seem to be heading for one of two outcomes: plutocracy or gridlock.
Donald Trump’s industrial revolution
Can this cabinet of oligarchs bring an end to the
neoliberal era?
Rigged Capitalism and the Rise of Pluto-populism:
On Martin Wolf’s “The Crisis of Democratic Capitalism”