LiberLion on Nostr: **Democracy: A System Of Corrupt Incentives** 1. Perverse incentives for politicians ...
**Democracy: A System Of Corrupt Incentives**
1. Perverse incentives for politicians → They seek re-election rather than good governance, fostering populism and corruption.
2. Irresponsible use of public money → They spend inefficiently since they manage others' resources without accountability, unlike business owners.
3. Subsidies for the unproductive
→ Wealth is redistributed from productive sectors to state dependents, discouraging work and investment.
4. Tyranny of the majority
→ Majorities can impose short-term populist policies, weakening institutions and increasing state dependency.
5. Decline of meritocracy
→ Mediocrity is rewarded over effort and productivity, eroding innovation and economic growth.
1. Perverse incentives for politicians → They seek re-election rather than good governance, fostering populism and corruption.
2. Irresponsible use of public money → They spend inefficiently since they manage others' resources without accountability, unlike business owners.
3. Subsidies for the unproductive
→ Wealth is redistributed from productive sectors to state dependents, discouraging work and investment.
4. Tyranny of the majority
→ Majorities can impose short-term populist policies, weakening institutions and increasing state dependency.
5. Decline of meritocracy
→ Mediocrity is rewarded over effort and productivity, eroding innovation and economic growth.