{"id":403435,"date":"2019-04-20T20:09:14","date_gmt":"2019-04-20T19:09:14","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/stephen-moore-gets-something-right-its-capitalism-vs-democracy\/"},"modified":"2019-04-20T20:09:14","modified_gmt":"2019-04-20T19:09:14","slug":"stephen-moore-gets-something-right-its-capitalism-vs-democracy","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/stephen-moore-gets-something-right-its-capitalism-vs-democracy\/","title":{"rendered":"Stephen Moore Gets Something Right: It\u2019s Capitalism vs. Democracy"},"content":{"rendered":"
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Photo by Nathaniel St. Clair<\/p>\n<\/div>\n

Capitalism is a lot more important than democracy. I\u2019m not even a big believer in democracy.<\/em><\/p>\n

\u2013 Stephen Moore, a potential future member of the Federal Reserve Board<\/p>\n

The dominant American ideology has long claimed that capitalism is about democracy.\u00a0It isn\u2019t \u2013 and one need not be an anti-capitalist \u201cradical\u201d to know better. My old copy of Webster\u2019s New Twentieth Century Dictionary\u00a0<\/em>defines capitalism as \u201cthe economic system in which all or most of the means of production and distribution \u2026 are privately owned and operated for profit, originally under fully competitive conditions: it has been generally characterized by a tendency toward concentration of wealth and, [in] its latter phase, by the growth of great corporations, increased government controls, etc.\u201d<\/p>\n

There\u2019s nothing\u2014nada, zero, zip\u2014about popular self-rule (democracy) in that definition. And there shouldn\u2019t be. \u201cDemocracy and capitalism have very different beliefs about the proper distribution of power,\u201d liberal economist\u00a0Lester Thurow noted<\/a>\u00a0in the mid-1990s: \u201cOne [democracy] believes in a completely equal distribution of political power, \u2018one man, one vote,\u2019 while the other [capitalism] believes that it is the duty of the economically fit to drive the unfit out of business and into extinction. \u2026 To put it in its starkest form, capitalism is perfectly compatible with slavery. Democracy is not.\u201d<\/p>\n

Thurow might have added that capitalism is…<\/p>\n<\/div>\n

Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Photo by Nathaniel St. Clair Capitalism is a lot more important than democracy. I\u2019m not even a big believer in democracy. \u2013 Stephen Moore, a potential future member of the Federal Reserve Board The dominant American ideology has long claimed that capitalism is about democracy.\u00a0It isn\u2019t \u2013 and one need not be an anti-capitalist \u201cradical\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-403435","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/403435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=403435"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/403435\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=403435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=403435"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=403435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}