ChineseRestaurantCapitalism

keeping the economy honest

The right way to be a dictator!

The King of Saudi Arabia just announced $36bn of  benefits for his people  in the face of  Arab uprising spreading. Ok, that’s someone who knows how to be a dictator… excuse me, I mean “monarch” since they’re our friends.  King Abdullah’s package gives 18m lower and middle-income Saudi’s new unemployment benefits, education,  housing subsidies, and debt write-offs.  This is what I call dictatorship by bribery.  If you’re cash rich, you can afford to throw a bone to the underclass while still taking most of the pie.  Generally, people can take a lot of injustice and unfairness before they start doing something about it.  It’s only when they’re so desperate and at their wits’ end with no hope for better future do they start to riot and overthrow you.  So the strategy is to keep them just below the desperation line… read more

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