They are inseparably linked — and as yet very few societies have been able to champion both at the same time. To have sufficient agency to claim to be “free,” there must of necessity be both egalitarian economic mobility and opportunity, and the broadest consensus of democratic will in self-governance. Sure, civic institutions and competitive markets are helpful first steps…but until you also ensure equity of economic and political influence for every individual, then concentrations of economic power will always coincide with concentrations of political power — it is inevitable and unstoppable. That is why it is so important to extend and support democratic mechanisms across all aspects of society — including economic systems, institutions and processes. This has been the primary failing of modern democratic societies, and why they are increasingly being “captured” by plutocrats and crony capitalism. To reverse this trend, we must move toward a political economy that champions equity rather than arbitrary privilege, and consensus and direct/semi-direct democratic mechanisms rather than insulated party bureaucracies.
My 2 cents.
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