Democracies are on track to lose their global economic dominance as 'authoritarian capitalism' rises

[CousinIT]

https://www.cnbc.com/2019/07/05/democracies-are-on-track-to-lose-their-global-economic-dominance.html

This week’s mini-drama over President Donald Trump’s Fourth of July speech, with all its military accompaniment, shouldn’t distract anyone from the far more significant story of global democratic decline on this 243rd anniversary of American Independence.

Dangers are accelerating to the democratic ideals that the American Revolution inspired. If no unanticipated shock disrupts current trajectories – say a democratic uprising in China, a Russian regime change or, still significant, a Venezuelan dictator’s decline – autocratic powers will surpass democracies in their economic size and influence within the coming decade.

And history has shown prosperity often precedes political dominance.

What’s been broadly reported by now is that global democratic freedoms are in their 13th year of decline, a result both of surging autocracies like Russia and China, fraying freedoms in liberal democracies and Western complacency about both. “The overall losses are still shallow compared with the gains of the late 20th century, but the pattern is consistent and ominous,” Freedom House reported in its 2019 assessment

Less recognized, but perhaps ultimately more decisive, is that within five years at current trends autocratic countries will account for more than half of global income for the first time in more than a century. That’s based on an analysis of International Monetary Fund figures by political scientists Roberto Stefan Foa and Yascha Mounk.

That would mark a stunning reversal in fortunes.

[rampartc]

1. the chinese economic model seems to appeal to capitalists everywhere.

[Wounded Bear]

3. China is like the worst parts of capitalism and communism rolled into one...

[lunasun]

2. Seems like the philosophical wave across the globe emerging . Climate change will accelerate it imo

Can America push back or continue towards it?
Too many welcome it here. Workers no longer unite . Just look at the Putin Russian oligarchs worship that has grown in just 4- 5 years right in the US + elected authoritarian pop stars like Duerte or Bolsonaro

[Farmer-Rick]

4. Capitalism is an authoritarian economic system

The worker is given orders with no vote on how to run the corporation. It's all top down...he who gets lucky or is born into capital makes all the rules. He who is unlucky or is born into the working class takes all the sh*t. Older capitalist economies are almost feudal systems as the wealthy gobble up all the income and competition turns to monopoly markets.

So is it any wonder that authoritarian and feudal economic systems can Not long sustain democratic governance?

If you want democracy to last, you have to integrate it into the economy too.