“largesses” or bailouts from the public treasury
A Scottish economist, Alexander Fraser Tyler, professed this opinion already in 1776:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesses from the public treasury. From that moment on, the majority always votes for the candidates promising them the most benefits from the public treasury, with the result that a democracy always collapses over a loose fiscal policy…”.
(from a talk by Christian Michel, Why I am not a Democrat)Explore posts in the same categories: Quotations