Democracy: the matching up of people who want free stuff with politicians who promise free stuff. Problem: free stuff as they all imagine it does not exist.
However, it does exist in the market, as explained by Frédéric Bastiat in Economic Harmonies, chapter 8, "Private Property and Common Wealth." See my discussion of that chapter.
I don't believe in democracy. I believe in mutual consent. We've put democracy on a pedestal, and it's turning out very badly for us.
ReplyDeleteWhile I was reading your discussion I kept thinking about how the central banks thwart the adding of wealth to the commons and instead appropriate it to the elites.
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