Athens to Washington, New Delhi to London, all modern democratic welfare States have lately been the choice of billions.
Capitalism and Welfare Democracy do not mix for long, not without serious consequences. Capitalism tend to concentrate the capital in few hands whereas democracy pretend to give political power to the masses. These elected or selected representatives of masses then legislate to redistribute the public wealth by the means of taxation and welfare. Current governments always protect the present, the present generation of rulers and their support groups at the cost of future ones.
As these parliamentary democracies mature, their parliamentarians become so expensive that they go beyond the purchasing power of the common masses, who voted for them in the first place. Out of variety of tools at the disposal of democratic welfare state, the most common and effective ones are protecting the wealthy class, taxing the productive citizens and robbing their savings using a technique called Inflation.
As these parliamentary democracies mature, their parliamentarians become so expensive that they go beyond the purchasing power of the common masses, who voted for them in the first place. Out of variety of tools at the disposal of democratic welfare state, the most common and effective ones are protecting the wealthy class, taxing the productive citizens and robbing their savings using a technique called Inflation.
The life of the current dominant system is probably in its mature and advanced stage. At the same time it may surprise us like an old bicycle which can remain roadworthy for many years to come. How long exactly, I don't know.
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