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Saturday, Oct 23, 2021
Outlook.com

Crisis Of Democracy

A riveting book argues capitalism and democracy are incompatible

Crisis Of Democracy
Crisis Of Democracy
outlookindia.com
-0001-11-30T00:00:00+05:53
THE battle is long over. Capitalism has emerged the unquestioned victor. Suddenly, there are no rivals left to vanquish. Capitalism with its numerous variants as practised in different countries, like King Ozymandias, appears to be surveying the remains of a Pyrrhic victory. For, inequity refuses to subside, poverty does not go away and violence continues to strike the most vulnerable, innocent citizens. What kind of a victory is this then? Is it a good thing for human civilisation to be under the total monopoly of one system, without any competition whatsoever, which would perhaps impair its ability to adapt to rapidly changing circumstances? Doesn't capitalism suffer the risk of dying because of self-stagnation? Further, with technology and ideology both rapidly assuming newer contours, what effect will that have on the existing capitalistic structure? Perhaps the key to good governance lies in answers to questions such as these.

The elegy for the myriad other systems of human and economic organisation has barely begun to fade. And here comes an extremely persuasive and...

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