The paradox of Western capitalism chipping away at the foundation of the very system it created
06-03-2022 9:44 pmThe economic and military armament of the big illiberal powers – Russia and China, in particular – was achieved with capital originating in liberal countries. The capital’s unscrupulous pursuit of globalization opportunities after the fall of communism thinned the middle class “at home” and created in autocratic countries economies so strong that the capitalist society became dependent on them. We are faced with a paradox: the capital of democratic Western countries finances the weakening of the democracy in these societies. Chasing opportunities has always been instrumental in the efficient allocation of capital, but… As subjects of the experiment called “communism”, our regional neighbors and us are probably best suited to call the failure of this system and recognize the main causes for its malfunction. To all of us having experienced that era, it is obvious that the key
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