Capitalism is eating democracy

Forget influencing Presidents and Prime Ministers, European billionaires are funding local elections in the Georgian capital, Tbilisi. When the wealth of oligarchs so dwarves that of the people, it is relatively easy to seize control of the entire political establishment, aggressively pursuing financial interests while keeping the population distracted by identity politics. Tbilisi is a perfect microcosm demonstrating the dangers of what unlimited, uncontrolled capital can do to democracy.

The rise and fall of the property-owning democracy

Ever since the Global Financial Crisis, living standards have split between those who own their own home and those who do not. Inability to find work is no longer an indicator of poverty. In fact more than half of those living in poverty come from a household where someone is in work. The property-owning democracy was meant to make people more conservative, but the rise in home ownership exacerbated the rise in inequality. What effect its reversal might have on our politics is anybody’s guess.

Something’s Rotten in the State of Denmark

Whilst politicians globally extol Danish democratic virtues, very few of them talk about the pernicious effects financialization has had on the country. The Danish economy is carrying huge levels of private debt which, unless managed, could undermine their much-vaunted democracy. Is trouble looming in the democratic utopia, and how do a new crop of politicians stop the […]