Capitalism will eat democracy

unless we speak up.

By:Yanis varoufakis

IPE Assignment
Shujaat Hussain
Review:

Previous minister for Greece offers insights as associate economic corporate executive concerning the
present workings of worldwide finance. He suggests the key challenge of our time could be a lack of
democracy to balance today’s unbridled laissez-faire economy. Laissez-faire economy while not
democratic oversight will become a awfully no civilized system—brutish and damaging. This current
imbalance threatens the worldwide economy, our surroundings, and therefore the way forward for civil
society.

Capitalism relies on profit controlled by personal homeowners rather than common would like. And
untied laissez-faire economy tends to make the acute wealthy and therefore the operating poor—with a
mountain of debt for the poor and a mountain of idle profit for the rich. If this idle (excess) profit isn't
came back to/invested in society then inequality and impoverishment grow and deepen. With this
growing inequality and connected instability the rich concern reinvesting their idle profit. And this lack
of investment creates stagnant wages, lack of jobs, and additional issues concerning the longer term.

The result's low wages and state with over 1 / 4 of twenty five to fifty four year-olds in America, Japan
and Europe out of labor. The result's low mixture demand that in an exceedingly endless cycle reinforces
the pessimism of the investors.

Alternatively, this idle money may well be invested with to enhance lives, develop human abilities, and
finance inexperienced technologies that are fully essential for saving planet Earth.

The separation of the economic and political spheres created democratic government potential;
nevertheless it additionally gave rise to associate epic struggle between the 2. Over time the economic
sphere has ingested into the ability of democratic government. We’ve got shifted to associate form of
government of major banks and corporations—where representatives World Health Organization serve
bundle create necessary selections in backrooms. And many billions of greenbacks effuse of nations and
find you in protected investments and off-shore banks—all unaccountable to the good. we have a
tendency to should notice the simplest way to reclaim democracy, morality and transparency, and
reunite the political and economic spheres—before we have a tendency to find yourself with a nasty,
beastly world.