“In the quest for growth, many countries have neglected to build a reliable system of social security that will help citizens buffer the market’s volatility.
(…) Democratic capitalism’s greatest problem is not that it will destroy itself economically, as Marx would have it — but that it may lose its political support.” — Raghuram Rajan
Professor Rajan’s idea that capitalism might lose its “democratic support” unless it protected its citizens with a reliable social net just wont leave me alone, I keep coming back to it over and over again … especially when the entire system’s trend at this moment seems to be going in exactly the opposite direction: leaning toward reducing not enlarging “entitlements” and the worse things get, the more cuts are being put on the table and the more entitlements are being taken off.