The modern bread is processed, cheap, lasting sugary foods and the modern circus is entertainment media and social media.
These help keep people content enough to prevebt rebellion against the plundering of all economies.
Discussion
I'm not saying global economic conditions are on the up-and-up at the moment.
Just staying the dynamic works the same regardless of the trajectory. "Bread and Circuses" is something that happens in societies that are actually prospering as well, its just called luxuries and entertainment.
After looking up the phrase, I understand that I'm being a bit literal with my reference to the phenomenon. "Bread and Circuses" are generally bad, especially when not addressing legitimate issues.
Yea, its similar to "let them eat cake". It implies the economy is doing poorly and the ruling classes respond with distractions instead of solutions.