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Democracy works with one person = one vote. When you have one dollar = one vote you get a plutocracy instead. So when consumers vote with their wallets, this v
by nextaccountic 4y ago
Democracy works with one person = one vote. When you have one dollar = one vote you get a plutocracy instead.
So when consumers vote with their wallets, this vote isn't democratic at all. People that don't have money in their wallets don't get to vote.
- kqr 4y agoPut differently: we want market economies to be about satisfying the greatest need. In practise, they're about satisfying the greatest ability to pay. And ability to pay does not come with need -- it comes with privilege, luck, and political skill.
- mulmen 4y agoThe point is you don’t get to tell other people how to spend their money outside the narrow exception of taxation and prohibition, both of which are democratically defined.