Growth is the result of economic liberalism. Democracy is about social and political liberalism rather than economic liberalism.
There is a tradeoff between growth and fairness.
Economic liberalism promotes growth, while social and political liberalism promote fairness and reciprocity.
Capitalism as an expression of economic liberalism is antithetical to democracy as the basis for social and political liberalism.
Capitalism as an expression of economic liberalism is antithetical to democracy as the basis for social and political liberalism.
Achieving grown and fairness requires optimization of goals based on opposing values. Maximizing growth leads to a decline of fairness and reciprocity social and politically, which now goes by the term "inequality."
Vox.eu
Democracy does not cause growth
Julia Ruiz Pozuelo, Amy Slipowitz, Guillermo Valeting
ht Mark Thoma at Economist's View
Democracy does not cause growth
Julia Ruiz Pozuelo, Amy Slipowitz, Guillermo Valeting
ht Mark Thoma at Economist's View
There is a tradeoff between growth and fairness.
ReplyDeleteImplicit subsidies for banks have existed since 1694 or earlier so I'd say that the above statement is premature if not false; so let's try honest fiat and credit creation and see.