The 1920s were the last decade in American history during which one could be genuinely optimistic about politics. Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women — two constituencies that are notoriously tough for libertarians — have rendered the notion of “capitalist democracy” into an oxymoron.
Ironic considering the 20s expanded welfare because robber barons and ultra wealthy crashed the economy betting on the stock market. Doubly so since libertarians supposedly believe in the free market of ideas, but when forced to extend the franchise of voting to women, literally more than 50% of the population, they no longer want a “free” market. I presume theil would gladly make the same statement about civil rights along with his ideas on women’s suffrage and helping poor people stay alive.
Ironic considering the 20s expanded welfare because robber barons and ultra wealthy crashed the economy betting on the stock market. Doubly so since libertarians supposedly believe in the free market of ideas, but when forced to extend the franchise of voting to women, literally more than 50% of the population, they no longer want a “free” market. I presume theil would gladly make the same statement about civil rights along with his ideas on women’s suffrage and helping poor people stay alive.