October 25, 2008

Democracy and Capitalism

The House of the Rising Sons blog voices an important concept:
Democracy is not an outgrowth of free markets. Democracy and capitalism are antagonistic entities.

More on this is said and is worth reading. The same post also quotes a successful hedge fund manager who, not trusting banks anymore, has suspended operations. He has critical words for the financial elite and governing class. For example:

legislation was repeatedly brought forth to Congress over the past eight years, which would have [reined] in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it.
The establishment is out of control. It is a historic moment in which informed people need to step up and recognize the other thing stated in that blog entry:

Democracy, like individualism, is not based on personal gain but on self-sacrifice.

Image Credit: GDAEman on DeviantArt



libhom said...

Hopefully the China example will permanently squash the notion that unregulated capitalism leads to democracy.

GDAEman said...

Sometimes you say the obvious that nobody else has seen. Thumbs up!