
Martin Wolf: Is Capitalism Killing Democracy?
Capitalisn't
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The Relationship Between Market Capitalism and Liberal Democracy
I was trying to think about what is special and different about the political and economic arrangements, and indeed the social assumptions of our society. It seemed to me that it starts off with we don't accept the notion of a scribed status. And once you accept that, you accept the idea that individuals have agency, they have the right to exercise that agency. But I also argue that politics, as Aristotle once said, is an inherent feature of human society. You cannot abolish politics. We need collective decision-making. That means that agency also applies to collective decision- making. So that economic life can and should be organized in different ways. The market is, of course, the most powerful
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