“There is an inherent tendency in #capitalism towards cronyism, and democracy enhances it. That means that capitalism is not sustainable in a #democracy, and those of us who defend #markets need to take that part of the argument from the left seriously. #Cronyism is not the opposite of capitalism. It is something that capitalism turns into in a political system that allows #freedom, and we should be worried about that. We should credit that as legitimate #criticism.”
— #MichaelMunger, on the #FreeThoughts podcast
https://www.libertarianism.org/podcasts/free-thoughts/capitalism-and-its-critics
@tripu It's definitely a problem but I don't see how democracy is the root cause. Isn't there cronyism too when democracy isn't present?
The Dark Enlightenment makes pretty convincing arguments in that regard, in support of a monarchy, but I'm not sold. Maybe something like Elon Musk proposes; IIRC, supermajority to pass a new law, but simple majority to abolish it.
Switzerland seems to be doing fine while many monarchies aren't.
@gasull
I think that within secular, liberal, parliamentary democracies, that distinction between monarchies and republics is moot. Switzerland could very well have a King and be as prosperous as it is, and I don't think replacing the King of Norway with a President would change much, either…
