Capitalism without Democracy rarely provides the 'free market' that is one of the pillars of Capitalism. I actually feel that the two will seek each other out when the conditions are right.
You are viewing a single comment's thread from:
Capitalism without Democracy rarely provides the 'free market' that is one of the pillars of Capitalism. I actually feel that the two will seek each other out when the conditions are right.
Singapore. One of the wealthiest (per capita) nations on Earth.
(This does not mean that Singapore is undemocratic, but that is what economic freedom without political freedom would look like.)
Democracy refers to a system of political power, free-market capitalism refers to liberty to own and exchange property. They are two different things.
Of course they are two different things. That is how they can possibly be married :)
Please note that I never used the term Free Market Capitalism, I used the much broader Capitalism in every instance.
And one more thing. Thank you for the excellent comments and the willingness to exchange ideas. The very reason I wrote this post.