Neofeudalism is also a steady-state economy—one in which growth is essentially nil or close to it—but characterized not by some harmonious socially sustaining socioeconomic life. Rather, it would be one in which the rate of return on “capital” lies at its historic norms of 4 to 5 percent for a rather much larger and much more comfortable ruling class than existed in pre-modern periods across the world, coupled with the conditions for at least a handful of distinct—if almost certainly overlapping—surplus populations: First, a massive number of socioeconomically expendable people (no longer needed for the basic stable reproduction of the sated and well-off) who face direct, permanent ecological adversity. (Think about the UN’s estimate of one to two billion who may “no longer have adequate water” if the world warms by 2 degrees Celsius.) And second, an over-large body—also facing severe economic and ecological constriction—of what one might term “neoserfs”: people who work in basic production and extraction, maintenance, and non-essential service functions. In between these groups and a ruling class would be a third mass: loyal retainers, if you will. Those who perform high level services, especially governance and security.