Two views on the Democratic nature of Capitalism
Noam Chomsky's view of the Democratic nature of Capitalism:
"Personally, I'm in favor of democracy, which means that the central institutions of society have to be under popular control. Now, under capitalism, we can't have democracy by definition. Capitalism is a system in which the central institutions of society are in principle under autocratic control. Thus, a corporation or an industry is, if we were to think of it in political terms, fascist that is, it has tight control at the top and strict obedience has to be establishedat every level--there's little bargaining, a little give and take,but the line of authority is perfectly straightforward. Just as I'm opposed to political fascism, I'm opposed to economic fascism. I think that until the major institutions of society are under the popular control of participants and communities, it's pointless to talk about democracy"
Ludwig Von Mises's view of the Democratic nature of Capitalism:
"What has been called the democracy of the market manifests itself in the fact that profit-seeking business is unconditionally subject to the supremacy of the buying public. Non-profit organizations are sovereign unto themselves. They are, within the limits drawn by the
amount of capital at their disposal, in a position to defy the wishes of the public..........
The consumers by their buying and abstention from buying elect the entrepreneurs in a daily
repeated plebiscite as it were. They determine who should own and who not, and how much each owner should own."
What side are you on? What side are those leaders whom you support on?
"Personally, I'm in favor of democracy, which means that the central institutions of society have to be under popular control. Now, under capitalism, we can't have democracy by definition. Capitalism is a system in which the central institutions of society are in principle under autocratic control. Thus, a corporation or an industry is, if we were to think of it in political terms, fascist that is, it has tight control at the top and strict obedience has to be establishedat every level--there's little bargaining, a little give and take,but the line of authority is perfectly straightforward. Just as I'm opposed to political fascism, I'm opposed to economic fascism. I think that until the major institutions of society are under the popular control of participants and communities, it's pointless to talk about democracy"
Ludwig Von Mises's view of the Democratic nature of Capitalism:
"What has been called the democracy of the market manifests itself in the fact that profit-seeking business is unconditionally subject to the supremacy of the buying public. Non-profit organizations are sovereign unto themselves. They are, within the limits drawn by the
amount of capital at their disposal, in a position to defy the wishes of the public..........
The consumers by their buying and abstention from buying elect the entrepreneurs in a daily
repeated plebiscite as it were. They determine who should own and who not, and how much each owner should own."
What side are you on? What side are those leaders whom you support on?
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