This evening I went to see Jason Brennan speak over his book Why Not Capitalism? and during the question and answer a very interesting point was made.
Democracy and capitalism are often paired as symbiont when really they’re inherently different for an economic agent.
Capitalism is fueled by self interest and incorporates an immediate feedback loop. For example if a new empanada shop opens downtown and I eat there I immediately know if the decision was a good or bad one based off the tastiness of the chilean hot pockets.
But democracy doesn’t have that immediate feedback loop, so it’s harder for an economic agent to know if the the decision made was the correct one.
What this creates is a situation where the average voter doesn’t see the value of their actions because they aren’t effected immediately.
This perceived meaninglessness doesn’t incentivize the citizen to cast their ballot and this is understandable. In a world where gratification becomes more immediate daily, will democracy be feasible? Or will a faster solution have to arise.
Maybe a more efficient solution can arise, but I’m more concerned we won’t be able to switch to renewables in time or stop the singularity from going terminator.