It is perhaps an inherent problem wherever the universal franchise is unaccompanied by widespread virtues such as honesty, self-control, providence, prudence and self-respect. Greece is therefore a cradle not only of democracy, but also of democratic corruption.Read of the rest of the article here. The American Founding Fathers knew the score: Democracy ends when the mob becomes corrupted. It's not just the bankers and politicians which are wicked, so are the people.
The Greek demonstrators did not understand, or did not want to understand, that if there were justice in the world, many people, including themselves, would be worse rather than better off, and that a reduction in their salaries and benefits was not only economically necessary but just.
Friday, June 24, 2011
It's an old article but a good one and pertinent once again to contemporary financial events.