Hmm. Still not sure this is a flaw of democracy. All the mechanisms by which wealth has flowed upwards to the top seem like they would still have happened just as smoothly or even more so, absent the consent of the governed.
I think his argument is that fat cats are able to get even fatter without, for instance, revolutionary redistribution, because democracy acts like a pressure-valve, and voters aren’t so conscious of the extent to which the dice (to swap metaphors) are loaded
Hmm. Still not sure this is a flaw of democracy. All the mechanisms by which wealth has flowed upwards to the top seem like they would still have happened just as smoothly or even more so, absent the consent of the governed.
I think his argument is that fat cats are able to get even fatter without, for instance, revolutionary redistribution, because democracy acts like a pressure-valve, and voters aren’t so conscious of the extent to which the dice (to swap metaphors) are loaded