Democracy incomplete without capitalism
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Re: "Democracy depends on the word in front", Letters, October 18.
If there should be a word in front of the democracy, then let it be capitalist.
When “The Wealth of Nations” by Adam Smith was published in 1776, the Netherlands was leading the way as the first capitalist, quasi-democratic country. Soon after, American colonies engaged in a revolution to install true capitalism in America, with democracy having been the means to achieve that goal.
Wars and revolutions have come about because of economic disparities that betray capitalism, but some of the oldest democracies today seem to have forgotten that equation.
To put it bluntly: People will vote first for better economies, but voting itself cannot create better economies. True capitalism can.
Guy Baker
