Democracy and the Growth of Government

Dr. Mark Farber expresses skepticism about the effectiveness of the current democratic system and predicts that it will eventually be abandoned due to the influence of the elite. Throughout history, there has always been a top ruling class and a larger population with lesser privileges. He believes that societies will revert back to this hierarchical structure, but the nature of the leadership, whether oppressive or benign, remains uncertain. Farber also notes the tendency for governments to continually expand their power, leading to a dominance of government over the private sector.