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I don't think he was saying it was unique to capitalism, only that it's inevitable under a capitalist system. Which is true. As you said, regulation is necessar
by bsanr2 8y ago
I don't think he was saying it was unique to capitalism, only that it's inevitable under a capitalist system. Which is true. As you said, regulation is necessary to keep capitalism from becoming a socially-corruptive influence.
- mulmen 8y agoSure but I don't see how that makes a democratic crisis inevitable. The implication seems to be that democracy and capitalism are fundamentally incompatible which I don't think is true. They are in fact complimentary in my opinion. What better way to regulate a capitalist economic system than with a democratically elected government?
- andrepd 8y agoThe argument goes as follows, if you're interested. In a capitalist society there exists wealth inequality, and with it a power inequality. Democracy is the belief that every citizen has an equal say in the decisions and affairs that concern him. Manifestly, however, in a system with such stark differences in power, this cannot be the case (just think of how a "commoner" and a billionaire cannot even be compared in terms of resources and power at their disposal). "True" democracy is impossible in capitalism, as it is in feudalism, or in a monarchy, or in any system with classes.
- TazeTSchnitzel 8y agoThat's my thinking basically, yes. In particular, the gradually escalating power differential as money flows to the top will slowly and then rapidly destabilise a democracy.