Phil Gramm Quotes
It should be no surprise that Mr. Biden has turned once again to more government largess as his political capital has collapsed. Giving away taxpayer money has become this administration’s only consistent policy. With progressive Democrats increasingly comfortable bearing the label “socialist,” have we now entered the bread-and-circus phase of American democracy?
Socialism in its then pure form had the state owning and controlling all the major assets of the nation. In this sense it was contradictory to individual freedom and hence democracy. However, in the years after Tocqueville’s quotation and the industrial revolution, socialism has gradually moved away from state ownership and operations of all institutions and resources. Democracy has tended to adopt a more regulatory view to control the excesses of unbridled capitalism. The range of democratic nations by the 21st century encompassed differences but some were described as “social democracies” and had some state ownership but were basically capitalistic economies. Even the self-described Communist nations had become heavily capitalistic albeit with less political freedom. At the same time, even the United States—the epitome of 21st century capitalism, owned and controlled a few of the resources and means of production and tended to regulate the others—a substantial difference from the American democracy which Tocqueville studied.
William Philip Gramm is an American economist and politician who represented Texas in both houses of Congress. Though he began his political career as a Democrat, Gramm switched to the Republican Party in 1983.