[aerosmile]

I am all up for first principles thinking, which is what you demonstrated above. The problem with this approach, however, is that you have to think deeply enough to get to the very bottom of each topic. Your analysis didn't touch on the fundamental need of any democratic society to sustain strong economic growth. It's a well-known fact that destabilization of that growth nips away at democratic principles and ultimately leads to totalitarian governance. Just look a the role of economic instability in the Nazi rise to power [1].

So, yes, people may decide that we no longer want a certain type of companies. Heck, let's take it a step further - people may also decide that we want everyone to get a million dollars, no questions asked. But people are smarter than that, which is why we still have democracies.

[1] https://www.theholocaustexplained.org/the-nazi-rise-to-power...

[tmp231]

> Your analysis didn't touch on the fundamental need of any democratic society to sustain strong economic growth

The need of the society is to defend property rights and sustain the rule of law. Economic growth is good, but you can’t make it the top of your list. Besides, we are already awash in too much regulation as it is, we should be heading the other direction towards more liberty. I’m not saying there’s never a time for regulation, just that we are waaaay past the point of reason in many areas.

[aerosmile]

It feels like we're agreeing on some subjects (eg: too much regulation can kill economic growth), but disagreeing on the importance of economic growth for the defense of property rights and rule of law. My point is that those two items can only be guaranteed in a democratic society (you won't find them in places like Russia, Middle East, most of Africa, etc). In an earlier comment, I referenced a piece that discusses the impact of economic stability on Nazi's rise to power. You will find many other examples of democratic societies turning into totalitarian regimes at the time when people lost faith in elections (which is something they do when they can no longer pay for their food and rent).

[tmp231]

Yes I think we do agree on many things. I think in general we both value property rights and that’s a good place to be.

We may disagree on which is the cart and which is the horse. I think that in general you need a moral people who will enforce the rule of law to get economic growth, so the rule of law is the horse. And the horse’s horse is the morality of the people, something Weimar Germany was certainly lacking. Get those in order first and I think prosperity will follow. Try to put prosperity first, then it won’t matter what rule of law you have b/c the most important thing is to make money.

[rileymat2]

I thought most of that was implied by the word “practical.”

As a practical matter it may be bad policy. But, right it is not.