The Death of Capitalism

I’ve been listening to a fascinating discussion regarding the death of capitalism on CBC’s “Ideas” program. I’m only about half way through it, but the subject matter is important and somewhat unsettling. Here’s a quote from where I’ve paused in my podcast app.

“Democracy was always a problem in a capitalist society. There’s an enormous inherent tension between the two. Democracy is inherently egalitarian because every citizen has one vote. And the rich also have one vote but the rich are only five percent. Whereas in the market, every dollar has a vote. And the capitalist economy in particular functions according to — I think it’s [the Gospel of] Matthew — where it says he who has will be given [more]. And he who has [little] will have even what he has taken away…”

He’s referring to Matthew 13:12 which, in the King James Version, reads, “For whosoever hath, to him shall be given, and he shall have more abundance: but whosoever hath not, from him shall be taken away even that he hath.” You might know it as “the rich get richer and the poor get poorer”. For the record, you can find it in a handful of other places in the Bible.

Anyhow, this episode is a must listen, or read, and you’ll find both the audio and the transcript here.



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