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Entries from November 2009

Why Democracies Fail, The Fatal Sequence, And “The Fall Of The Republic”

October 22nd, 2009 · 3 Comments · Politics, Money and Markets

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses [...]

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