Hearn: The resolution of the Bitcoin experiment

Actually, democracy is "government of the middle class, by the middle class, for the middle class". Which is why it's now under so much threat. And which is also why attempts to impose it on other countries fail so disastrously.

Democracy blossomed in Britain with the rise of the Victorian middle class. Democracy survived in India despite people saying it wouldn't, because there was a large middle class. Various attempts to "democratise" South America have imploded because the countries had no middle class to speak of and they elected a dictator to power (and just look at the similar mess in Africa. In fact, because of hyper-inflation, that's probably why a certain AH was *elected* to power in Germany!).

The middle class is being squeezed. More and more of the world's wealth is being concentrated in the hands of fewer and fewer people. Even as the "average salary" is rising, the salary of the "average man" is falling ...

I think our democratic experiment is coming to an end. Look at pretty much EVERY election nowadays, America being a perfect example, victory goes to the person who managed to outspend everyone else. Our setup isn't quite so bad - there are strict spending limits - but it's still pretty obvious that throwing money at a constituency will win that constituency. It's just that there's a limit to the amount of money you can throw.

Cheers,
Wol