The new capitalism is increasingly bothered by democracy

The new capitalism that emerged from the combination of digitalization, globalization and financialization is destroying everything that comes its way. The classic tension between capitalism and democracy is reformulated with new keys. The new capitalism that emerged from the fusion between tech magnates and politicians without social buffers is bothered by democracy, its rules, its institutional firewalls, so much intermediation and so much politically correct nonsense. Competition rules. And if in front of you is a giant like China, which operates in a much more expeditious scenario, the solution is clear; less democracy, more authoritarian techno-solutionism.

Traditionally, criticism of the compatibility between the competitive market economy and the democratic political system came mainly from the side of democracy, arguing that the inequalities inherent in the functioning of capitalism contradict the principles of equality and social justice typical of a democratic system. This criticism centered on the idea that the concentration of wealth and power in the hands of a privileged minority, a natural result of the functioning of the free market, seriously undermines equality of opportunity and the ability of citizens to participate equally in life. policy. The report of a liberal like Beveridge a little over 80 years ago laid the foundations for what was the paradigm of coexistence between the market economy and the democratic system and its combination of representativeness and the defense of equality and dignity for all through redistributive policies paid for with the taxes of those who had the most.