The dilemma of probability theory (wonkish) | Real-World Economics Review Blog
Economics should be taught like Science.
Saturday, February 1, 2014
Democracy/Capatalism
Democracy is a requirement of Modern Capitalism.It is a prerequisite.Because Big business involves complex activities in a very competitive atmosphere it cannot survive without systems / rules being in place.
Business can only thrive in a situation where there is peace , law and order and a system based on Legislative / Executive / Judicial power and which is ensured by Democracy.
Hence Modern Capitalism is dependent on Democracy to survive and prosper , but it is not true the other way around , Democracy can survive without Capitalism also for example Socialism, Communism.
Hence Voters/Consumers have real power in their hand , if they think about it and utilize their choice properly.
Business can only thrive in a situation where there is peace , law and order and a system based on Legislative / Executive / Judicial power and which is ensured by Democracy.
Hence Modern Capitalism is dependent on Democracy to survive and prosper , but it is not true the other way around , Democracy can survive without Capitalism also for example Socialism, Communism.
Hence Voters/Consumers have real power in their hand , if they think about it and utilize their choice properly.
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