Sep 6th 2012, 2:00:08
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship."
It seems to me the only thing prolonging the existence of the Democratic system is the innovation of new technologies and economic engines that have primarily come from the United States. The United States has, until recently, avoided the decent into democratic socialism to which Europe has succumbed. New innovations allow the state to continue to fund itself. As socialism spreads, which seems to be inevitable under democracy, the incentives for developing new innovations diminishes, while the amount of money required to fund the state increases.
The question for Democracy becomes, can the state itself facilitate the development of new innovations that will expand its economy and feed its ever expanding need for cash? The answer seems to me to be no. Europe has declined into stagnation and debt crises, which seems to be the ultimate fate of all democracy.
People will always vote for their own self interest, which is an expanded state providing more and more benefits. The result is suicide, indicating to me that Democracy is a failed system.