TED Conversations

James Whitehead

This conversation is closed. Start a new conversation
or join one »

Is Capitalism compatible with Democracy?

Is the Capitalist economic system really compatible with democracy?

Or do the contradictions within capitalism itself (eg, low wages to increase profitability, yet high earners needed to buy products) create a system in which democracy cannot function successfully?

Could it be argued that a democratic system would function better in a Socialist economy?

Related Talks:
Topics: Communism capitalism democracy economy global economics global governance marx politics socialism society
+1
Share:

Showing single comment thread. View the full conversation.

  • thumb

    James Whitehead

    • 0
    Feb 10 2012: a socialist economy that is controlled by the state WHICH IS DEMOCRATICALLY ELECTED....... Private companies are not elected, therefore un-democratic... no?
    • thumb

      E G 10+

      • +1
      Feb 10 2012: Yes, you have an democratically elected government but if it has the money what reasons do you have to think it will gonna leave the power when the time comes ?
      Just notice historically : the most tyrannies was established with the help of the people ; for example : the Bolshevik Revolution 1917, The Thirty Tyrants ..... .
      • thumb

        James Whitehead

        • 0
        Feb 11 2012: Which is why it is always human greed and corruption that undermines and abuses the system. Communism works on paper, people get in the way ;-)

        I guess in an ideal world, once the system has been established and the frameworks are in place to maintain it, the ideal leader would step down from power, although it could be argued that the type of person needed to lead a revolution is also not the type of person to give up power!
        • thumb

          E G 10+

          • +1
          Feb 11 2012: I don't think we can afford ourselves to think at an ideal world when it comes about politics , money ............ I know you agree with me .

          We have to solve the problems we have :human greed and corruption ; how ? I don't have an fully answer but I think the best way is : a restricted capitalism in a democratic system .

Showing single comment thread. View the full conversation.