- Dec 29, 2012
I don't know if your expressed faith in the virtues of parliamentary democracy is either insincere or naïve.All countries should be democratic. It makes them wealthier, healthier,freer and safer.
Democratic states of the capitalist world have not one sovereign, but two: their people,
below, and the international markets above. Globalization, financialisation and European integration have weakened the former and strengthened the latter. The balance of power is now rapidly shifting towards the top. Formerly, leaders were required who understood and spoke the language of the people; today it is the language of money that they have to master. People whisperers are succeeded by capital whisperers who, it is hoped, know the secret tricks needed to ensure that investors receive their money back with compound interest. Since investor confidence is more important now than voter confidence, the ongoing takeover of power by the confidants of capital is seen by centre left and right alike not as a problem, but as the solution
- Wolfgang Streek, (2012) Markets and People New Left Review 2012 73:63-71