Thursday, April 17, 2014

Democratic capitalism, revisiting an oxymoron

See “Democratic capitalism is an oxymoron” for my earlier thoughts.

I finally finished “American Umpire” by Elizabeth Cobbs Hoffman.  Her frequent use of “democratic capitalism” inspired the blog entry above.  She uses the term on her final page.

Reading that led me to think that a democracy can lead to capitalism but capitalism doesn’t always lead to democracy.  In a democracy, the implied individual freedom can lead to the raising of capital for various projects.  In a capitalistic society, the power structure can more easily lead to an oligarchy than a democracy.  Unfortunately, the world is filled with oligarchic capitalism.  Will the United States and other countries we call democratic move to oligarchic capitalism?  Your voting in every election can prevent such a change.

See also “Oil companies, Fortune 500, and U.S foreign policy”.