Authored by Charles Hugh Smith via OfTwoMinds blog,
The "marketplace" of individuals and entities all seeking to maximize their share of the central-state swag doesn't make a democracy.
A democratic republic is a government in which power flows from citizens to their elected representatives. The American revolutionaries did not make a big distinction between republic and democracy, for in the context of the late 1700s, the dominant political structure was monarchy, and democracy meant the...
Read this story at Zero Hedge