TEN
HOW POLITICS SUBVERTS ECONOMICS
The day the power of love overrules the love of power, the world will know peace.
—MAHATMA GANDHI
What is the relationship between the economic system called capitalism and the political system called democracy? Many believe that capitalism is the natural companion of democracy. But it depends on the type of capitalism. If capital is widely held by the citizens in the country, then citizens truly know their interests and can vote accordingly. But if capital is mostly in the hands of a few (say, in a country where one percent of the people own half of the capital), the democratic concept of “one person one vote” is a sham. U.S. capitalism today is essentially Corporate Capitalism. Capitalists are free to move ...
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