The whole idea of neo-liberalism is that the two, liberal democracy and capitalism serve eachother, but both by betraying core values. if you want to analyze this relationship you really need to distinguish between the principles of capitalism, and the current practice of capitalism. Also the principles of liberal democracy and the current practice of liberal democracy.
They don´t in principle work together because capitalism tends towards monopoly and oligarchy. Democracy thrives on a just distribution of property at the very least, when the citzens are stakeholders in their businesses and own their land. So this is a conflict in principle. And there are many others. But the last great anti-trust act was in the 1920s. Glass-Stegal was repealed. which is to say...
In practice, capitalism has come to dominate the relationship, and capitalism has its own death drive. Liberal democracy and capitalism itself have in this stage of development almost totally abandoned principle and work to gether. The US military tends to attack countries that threaten the dollar. Curious, countries like Iraq, Libya who threatened to de-peg oil from the dollar. Also capitalism in the form of big tech has come to serve not only the surveilence state but has become very active in the control of information and active in elections. This is obviously just the tip of the iceberg but your analysis seemed wanting in this regard. Also capitalism at this late-stage is no longer about free competition. In the most crucial sectors its impossible for people to break in. Also money itself since the fall of bretton woods plays an increasingly mysterious and nefarious role that cannot be comprehended either within the austrian, chicago, or keynsian interpretation of the role of money in an economy. The current practice breaks every rule. Good day, sir!
Dr. Beck, as I read this informative and very useful post the thought formed in my mind, "Who is John Galt?" And the answer just as surely came, "Well, he ain't Jesus Christ and THAT's for damned sure!"
When I was a pot-smoking, deeply insecure teenager, I was taken with Ayn Rand and her "Atlas Shrugged" and all that ultra-Capitalist jazz . . . but then I grew up. For a while in my later teens right up to my twentieth year, I was an altruistic hedonist, which is a pretty good practical description of liberal democracy, wouldn't you say? But then I ran smack dab hard into the Rock of Jesus Christ who broke me to pieces and then put me back together to make me into what I am now and have been for about the last five decades, an imperfect follower of the One and Only Savior King.
Neither Capitalism nor Liberal Democracy can save us, nor ever will, and the whole entire world is about to find that out in a hurry any day now . . . but Jesus can.
I think we need to remember that original 13 colonies were a money making venture for the businessmen and the Crown. The Head of the Church of England was the Crown, so the King could easily bend the church to serve the state and get the church to support laws that protected and even enhanced the monarch's power. Even though we had the American revolution, that did not eliminate the cultural ethos that came over to the New World, when it came to businesses owners exploiting labor and intentionally sabotaging things for the common good, especially in the Southern States. We really did go from an absolute monarchy to a near total oligarchy.
So, American is going to always have this conflict as a part of her identify. Depending on the cultural mode, it morphs and takes on odd shapes and picks up on different causes. However, no matter what guise it takes, its still the same old wolf in sheep's clothing.
Whenever I think about political and economic things, I just end up thinking about Paul talking about powers and principalities. Capitalism, and democracy, should be our servants to work for the good of all people. But they end up ruling us too often instead, and get out of whack because we don’t have anything constraining them.
Sadly, as many point out including Richard Reich, we don't have a liberal democracy. When capitalism gets too powerful, concentrated, and de-regulated, political leaders that are there to guard common good exchange that duty for protecting the wealthy, and this runaway capitalism. One might wonder if politicians could realistically stand up against these huge monopolies. But we have been there a long time...with not enough concern from the citizenry. Peter Theil, right-wing billionaire, finally stated the obvious. Democracy and capitalism are incompatible.. and he believes that capitalism should be what is chosen. He has his way, certainly. A large majority of evangelicals embrace this extreme free market capitalism...and I believe embrace the extreme and dangerous movement as it takes them closer to theocracy... All this to say how far it all is from the values of Jesus. I am going to come down on the side of free-market capitalism, christianity and liberal democracy being totally incompatible...
The whole idea of neo-liberalism is that the two, liberal democracy and capitalism serve eachother, but both by betraying core values. if you want to analyze this relationship you really need to distinguish between the principles of capitalism, and the current practice of capitalism. Also the principles of liberal democracy and the current practice of liberal democracy.
They don´t in principle work together because capitalism tends towards monopoly and oligarchy. Democracy thrives on a just distribution of property at the very least, when the citzens are stakeholders in their businesses and own their land. So this is a conflict in principle. And there are many others. But the last great anti-trust act was in the 1920s. Glass-Stegal was repealed. which is to say...
In practice, capitalism has come to dominate the relationship, and capitalism has its own death drive. Liberal democracy and capitalism itself have in this stage of development almost totally abandoned principle and work to gether. The US military tends to attack countries that threaten the dollar. Curious, countries like Iraq, Libya who threatened to de-peg oil from the dollar. Also capitalism in the form of big tech has come to serve not only the surveilence state but has become very active in the control of information and active in elections. This is obviously just the tip of the iceberg but your analysis seemed wanting in this regard. Also capitalism at this late-stage is no longer about free competition. In the most crucial sectors its impossible for people to break in. Also money itself since the fall of bretton woods plays an increasingly mysterious and nefarious role that cannot be comprehended either within the austrian, chicago, or keynsian interpretation of the role of money in an economy. The current practice breaks every rule. Good day, sir!
Dr. Beck, as I read this informative and very useful post the thought formed in my mind, "Who is John Galt?" And the answer just as surely came, "Well, he ain't Jesus Christ and THAT's for damned sure!"
When I was a pot-smoking, deeply insecure teenager, I was taken with Ayn Rand and her "Atlas Shrugged" and all that ultra-Capitalist jazz . . . but then I grew up. For a while in my later teens right up to my twentieth year, I was an altruistic hedonist, which is a pretty good practical description of liberal democracy, wouldn't you say? But then I ran smack dab hard into the Rock of Jesus Christ who broke me to pieces and then put me back together to make me into what I am now and have been for about the last five decades, an imperfect follower of the One and Only Savior King.
Neither Capitalism nor Liberal Democracy can save us, nor ever will, and the whole entire world is about to find that out in a hurry any day now . . . but Jesus can.
Praise the LORD, huh!
I think we need to remember that original 13 colonies were a money making venture for the businessmen and the Crown. The Head of the Church of England was the Crown, so the King could easily bend the church to serve the state and get the church to support laws that protected and even enhanced the monarch's power. Even though we had the American revolution, that did not eliminate the cultural ethos that came over to the New World, when it came to businesses owners exploiting labor and intentionally sabotaging things for the common good, especially in the Southern States. We really did go from an absolute monarchy to a near total oligarchy.
So, American is going to always have this conflict as a part of her identify. Depending on the cultural mode, it morphs and takes on odd shapes and picks up on different causes. However, no matter what guise it takes, its still the same old wolf in sheep's clothing.
Whenever I think about political and economic things, I just end up thinking about Paul talking about powers and principalities. Capitalism, and democracy, should be our servants to work for the good of all people. But they end up ruling us too often instead, and get out of whack because we don’t have anything constraining them.
Sadly, as many point out including Richard Reich, we don't have a liberal democracy. When capitalism gets too powerful, concentrated, and de-regulated, political leaders that are there to guard common good exchange that duty for protecting the wealthy, and this runaway capitalism. One might wonder if politicians could realistically stand up against these huge monopolies. But we have been there a long time...with not enough concern from the citizenry. Peter Theil, right-wing billionaire, finally stated the obvious. Democracy and capitalism are incompatible.. and he believes that capitalism should be what is chosen. He has his way, certainly. A large majority of evangelicals embrace this extreme free market capitalism...and I believe embrace the extreme and dangerous movement as it takes them closer to theocracy... All this to say how far it all is from the values of Jesus. I am going to come down on the side of free-market capitalism, christianity and liberal democracy being totally incompatible...
We are in BIG trouble.