Opinion | Cost of capitalism
Summary
The article explores the inherent conflict between capitalism and democracy, emphasizing how wealth concentration undermines political equality and threatens democratic ideals across societies.
Key Points
- The top 10 percent own three-quarters of global wealth, while the bottom half holds only 2 percent, highlighting severe wealth inequality.
- Capitalism and democracy initially coexist but inevitably conflict as capitalism concentrates wealth, undermining political equality.
- Wealth transforms into social and then political capital, allowing the rich to influence laws and policies disproportionately.
- To preserve democracy, society must curb wealth concentration through public ownership and critical political education to resist misleading narratives.
